Brokerages Set LifeStance Health Group, Inc. (NASDAQ:LFST) PT at $9.75

Shares of LifeStance Health Group, Inc. (NASDAQ:LFST) have been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $9.75.

A number of research firms have recently commented on LFST. The Goldman Sachs Group began coverage on shares of LifeStance Health Group in a research report on Friday, June 5th. They issued a “neutral” rating and a $9.00 price target on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of LifeStance Health Group in a research note on Wednesday, May 27th. Wall Street Zen upgraded shares of LifeStance Health Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday. JPMorgan Chase & Co. lifted their target price on shares of LifeStance Health Group from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Finally, Barclays boosted their target price on shares of LifeStance Health Group from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Friday, March 6th.

LifeStance Health Group Stock Performance

Shares of NASDAQ LFST opened at $11.27 on Friday. The business’s 50-day simple moving average is $8.32 and its 200-day simple moving average is $7.40. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.48 and a current ratio of 1.48. LifeStance Health Group has a 52 week low of $3.74 and a 52 week high of $11.62. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 187.83 and a beta of 1.12.

LifeStance Health Group (NASDAQ:LFST) last posted its earnings results on Wednesday, May 6th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.03. The firm had revenue of $403.48 million during the quarter, compared to analyst estimates of $387.46 million. LifeStance Health Group had a return on equity of 1.56% and a net margin of 1.55%.The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. As a group, equities research analysts expect that LifeStance Health Group will post 0.12 earnings per share for the current fiscal year.

Insider Transactions at LifeStance Health Group

In related news, Director Robert Bessler sold 894,337 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $10.13, for a total transaction of $9,059,633.81. Following the completion of the transaction, the director owned 539,763 shares of the company’s stock, valued at approximately $5,467,799.19. The trade was a 62.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric Shuey sold 243,362 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total value of $1,951,763.24. Following the sale, the director owned 867,562 shares of the company’s stock, valued at approximately $6,957,847.24. The trade was a 21.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 7,762,394 shares of company stock worth $64,107,859. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On LifeStance Health Group

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE raised its holdings in LifeStance Health Group by 165.0% in the 1st quarter. Bank of America Corp DE now owns 1,994,027 shares of the company’s stock valued at $12,702,000 after acquiring an additional 1,241,475 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of LifeStance Health Group by 359.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,909 shares of the company’s stock worth $44,000 after purchasing an additional 5,404 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of LifeStance Health Group by 32.1% during the 1st quarter. California State Teachers Retirement System now owns 166,084 shares of the company’s stock worth $1,058,000 after purchasing an additional 40,402 shares in the last quarter. Quantinno Capital Management LP increased its position in shares of LifeStance Health Group by 46.4% during the first quarter. Quantinno Capital Management LP now owns 22,210 shares of the company’s stock valued at $141,000 after purchasing an additional 7,043 shares during the period. Finally, Orbimed Advisors LLC bought a new stake in shares of LifeStance Health Group during the first quarter valued at approximately $3,185,000. 85.50% of the stock is owned by institutional investors.

About LifeStance Health Group

LifeStance Health Group (NASDAQ:LFST) is a leading provider of outpatient mental health services in the United States. Headquartered in New York City, the company operates a growing network of clinics that deliver integrated, patient-centered psychological and psychiatric care. LifeStance’s mission is to expand access to high-quality mental health treatment by combining evidence-based therapy modalities with personalized treatment plans.

The company’s service offerings include individual, family, and group psychotherapy, psychiatric medication management, psychological assessment, and telehealth services.