LifeMD, Inc. (NASDAQ:LFMD) Stock Has Consensus Price Target of $7.57

Shares of LifeMD, Inc. (NASDAQ:LFMD) have been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $7.57.

LFMD has been the subject of a number of research reports. B. Riley Financial started coverage on shares of LifeMD in a report on Friday, September 11th. They issued a “buy” rating and a $8.00 price objective for the company. Lake Street Capital set a $5.00 price target on shares of LifeMD in a report on Thursday, August 6th. KeyCorp set a $5.00 target price on shares of LifeMD and gave the stock an “overweight” rating in a report on Friday, August 7th. Mizuho set a $7.00 target price on shares of LifeMD in a report on Thursday, August 6th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $9.00 target price on shares of LifeMD in a report on Thursday, September 17th.

Hedge Funds Weigh In On LifeMD

Several hedge funds and other institutional investors have recently modified their holdings of LFMD. BlackRock Inc. lifted its position in LifeMD by 8.0% in the 2nd quarter. BlackRock Inc. now owns 3,034,535 shares of the company’s stock valued at $12,533,000 after purchasing an additional 225,510 shares during the last quarter. State Street Corp boosted its stake in LifeMD by 22.6% during the 2nd quarter. State Street Corp now owns 1,318,784 shares of the company’s stock valued at $5,447,000 after purchasing an additional 243,376 shares during the period. Walleye Capital LLC acquired a new position in LifeMD during the 2nd quarter valued at about $1,338,000. Russell Investments Group Ltd. grew its position in LifeMD by 5,801.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 314,770 shares of the company’s stock worth $1,300,000 after purchasing an additional 309,436 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in LifeMD in the 2nd quarter worth about $1,078,000. Institutional investors and hedge funds own 35.52% of the company’s stock.

LifeMD Price Performance

NASDAQ LFMD opened at $2.29 on Wednesday. LifeMD has a 12 month low of $2.06 and a 12 month high of $6.03. The company has a market capitalization of $110.38 million, a price-to-earnings ratio of -45.79 and a beta of 1.99. The company’s fifty day moving average price is $2.81 and its two-hundred day moving average price is $3.65.

LifeMD (NASDAQ:LFMD) last released its earnings results on Wednesday, August 5th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $47.28 million during the quarter, compared to the consensus estimate of $49.16 million. LifeMD had a negative return on equity of 168.23% and a net margin of 0.10%. As a group, analysts anticipate that LifeMD will post -0.48 EPS for the current year.

LifeMD Company Profile

LifeMD, Inc is a direct-to-consumer telehealth company that provides virtual medical care, prescription treatments and related health services through its digital platform. The company connects patients with licensed health care providers for online consultations, ongoing care and, when clinically appropriate, prescription medications.

Its services include virtual primary care and programs focused on areas such as weight management, men’s health, women’s health, dermatology and chronic-care support.