LifeStance Health Group (NASDAQ:LFST) Stock Price Target Raised at Canaccord Genuity Group

LifeStance Health Group (NASDAQ:LFST) had its price objective hoisted by analysts at Canaccord Genuity Group from $15.00 to $16.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group‘s target price would suggest a potential upside of 15.85% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. BTIG Research raised their price target on LifeStance Health Group from $18.00 to $20.00 and gave the company a “buy” rating in a report on Thursday. Wall Street Zen downgraded shares of LifeStance Health Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 5th. KeyCorp upped their price objective on shares of LifeStance Health Group from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Friday. Barclays increased their price objective on shares of LifeStance Health Group from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, September 10th. Finally, Weiss Ratings upgraded shares of LifeStance Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $13.75.

LifeStance Health Group Stock Performance

NASDAQ:LFST traded up $0.38 on Friday, hitting $13.81. The company’s stock had a trading volume of 2,321,528 shares, compared to its average volume of 3,662,855. LifeStance Health Group has a one year low of $5.87 and a one year high of $15.66. The firm has a market capitalization of $5.28 billion, a P/E ratio of 106.36 and a beta of 1.35. The stock has a fifty day moving average of $12.59 and a two-hundred day moving average of $9.46. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.18.

LifeStance Health Group (NASDAQ:LFST) last issued its earnings results on Thursday, November 5th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. The company had revenue of $455.86 million during the quarter, compared to the consensus estimate of $431.59 million. LifeStance Health Group had a return on equity of 3.39% and a net margin of 3.19%. LifeStance Health Group’s quarterly revenue was up 25.3% compared to the same quarter last year. Research analysts predict that LifeStance Health Group will post 0.16 earnings per share for the current year.

Insider Transactions at LifeStance Health Group

In related news, COO Lisa Miller sold 47,912 shares of LifeStance Health Group stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $10.85, for a total transaction of $519,845.20. Following the completion of the sale, the chief operating officer directly owned 281,289 shares of the company’s stock, valued at approximately $3,051,985.65. This trade represents a 14.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Tpg Gp A, Llc sold 13,643,207 shares of LifeStance Health Group stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $10.62, for a total value of $144,890,858.34. Following the sale, the insider directly owned 98,101,407 shares of the company’s stock, valued at approximately $1,041,836,942.34. The trade was a 12.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 13,777,580 shares of company stock worth $146,433,781. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On LifeStance Health Group

A number of hedge funds and other institutional investors have recently modified their holdings of LFST. Fifth Third Bancorp boosted its position in shares of LifeStance Health Group by 10.7% in the third quarter. Fifth Third Bancorp now owns 180,736 shares of the company’s stock valued at $2,174,000 after acquiring an additional 17,414 shares during the period. Maryland State Retirement & Pension System grew its stake in shares of LifeStance Health Group by 80.5% in the third quarter. Maryland State Retirement & Pension System now owns 60,294 shares of the company’s stock valued at $725,000 after acquiring an additional 26,896 shares in the last quarter. Summit Creek Advisors LLC bought a new position in LifeStance Health Group during the third quarter worth about $2,408,000. StoneX Group Inc. bought a new position in LifeStance Health Group during the third quarter worth about $132,000. Finally, Pictet Asset Management Holding SA raised its stake in LifeStance Health Group by 56.6% in the 3rd quarter. Pictet Asset Management Holding SA now owns 41,302 shares of the company’s stock worth $497,000 after purchasing an additional 14,936 shares in the last quarter. Institutional investors and hedge funds own 85.50% of the company’s stock.

Key Headlines Impacting LifeStance Health Group

Here are the key news stories impacting LifeStance Health Group this week:

• Positive Sentiment: LifeStance reported Q3 adjusted earnings of $0.06 per share, ahead of the roughly $0.04 consensus, and revenue of $455.9 million versus estimates of $431.6 million. Revenue rose 25.3% year over year, and the company raised its full-year outlook—factors that suggest stronger growth and results than investors had anticipated. LifeStance Q3 results and outlook
• Positive Sentiment: BTIG Research raised its price target to $20 from $18 and maintained a Buy rating. KeyCorp raised its target to $17 from $15 and reiterated an Overweight rating, adding to the positive analyst backdrop. BTIG target update KeyCorp target update
• Neutral Sentiment: Coverage noted LFST had hit a 52-week high and highlighted its momentum, but offered no new company-specific development beyond the earnings report and analyst updates. LifeStance at a fresh high

About LifeStance Health Group

LifeStance Health Group, Inc is a provider of outpatient behavioral health services in the United States. Through a network of clinicians and care centers, the company offers mental health care through in-person appointments and telehealth visits.

LifeStance’s services include individual, couples and family therapy; psychiatric evaluation and medication management; psychological and neuropsychological testing; and treatment for conditions such as depression, anxiety, attention-deficit/hyperactivity disorder, bipolar disorder, post-traumatic stress disorder and other behavioral health concerns.