Canaccord Genuity Group Issues Positive Forecast for LifeStance Health Group (NASDAQ:LFST) Stock Price

LifeStance Health Group (NASDAQ:LFST) had its price target lifted by research analysts at Canaccord Genuity Group from $11.00 to $13.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 14.64% from the company’s current price.

A number of other brokerages have also issued reports on LFST. The Goldman Sachs Group initiated coverage on LifeStance Health Group in a research report on Friday, June 5th. They issued a “neutral” rating and a $9.00 target price on the stock. Zacks Research cut shares of LifeStance Health Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings restated a “hold (c-)” rating on shares of LifeStance Health Group in a report on Wednesday, May 27th. Wall Street Zen upgraded LifeStance Health Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 4th. Finally, KeyCorp increased their price target on LifeStance Health Group from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, LifeStance Health Group has a consensus rating of “Moderate Buy” and an average price target of $11.12.

LifeStance Health Group Stock Performance

Shares of LFST opened at $11.34 on Tuesday. 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 twelve month low of $3.74 and a twelve month high of $11.76. The firm’s 50 day moving average price is $9.08 and its two-hundred day moving average price is $7.71. The firm has a market cap of $4.40 billion, a P/E ratio of 189.00 and a beta of 1.12.

LifeStance Health Group (NASDAQ:LFST) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.03. The company had revenue of $403.48 million during the quarter, compared to the consensus estimate of $387.46 million. LifeStance Health Group had a net margin of 1.55% and a return on equity of 1.56%. The company’s quarterly revenue was up 21.2% compared to the same quarter last year. On average, analysts forecast that LifeStance Health Group will post 0.12 EPS for the current fiscal year.

Insider Activity

In other news, Director Eric Shuey sold 243,362 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total transaction of $1,951,763.24. Following the transaction, the director directly owned 867,562 shares in the company, valued at $6,957,847.24. The trade was a 21.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Darren M. Black sold 5,899,661 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total transaction of $47,315,281.22. Following the completion of the sale, the director directly owned 23,310,115 shares in the company, valued at approximately $186,947,122.30. The trade was a 20.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 7,757,293 shares of company stock valued at $64,072,101 in the last quarter. Company insiders own 3.50% of the company’s stock.

Institutional Trading of LifeStance Health Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Handelsbanken Fonder AB boosted its stake in shares of LifeStance Health Group by 37.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 41,100 shares of the company’s stock worth $440,000 after acquiring an additional 11,100 shares during the period. Contravisory Investment Management Inc. bought a new stake in LifeStance Health Group in the 2nd quarter valued at $451,000. Bank of America Corp DE lifted its holdings in LifeStance Health Group by 165.0% during 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 purchasing an additional 1,241,475 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in LifeStance Health Group by 359.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,909 shares of the company’s stock valued at $44,000 after purchasing an additional 5,404 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in LifeStance Health Group by 32.1% during the first 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 during the period. Institutional investors own 85.50% of the company’s stock.

LifeStance Health Group Company Profile

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.