Barclays Boosts LifeStance Health Group (NASDAQ:LFST) Price Target to $9.00

LifeStance Health Group (NASDAQ:LFST) had its target price lifted by equities research analysts at Barclays from $8.00 to $9.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 28.76% from the company’s previous close.

A number of other research analysts have also weighed in on LFST. KeyCorp lifted their price target on shares of LifeStance Health Group from $8.00 to $9.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Weiss Ratings upgraded shares of LifeStance Health Group from a “sell (d-)” rating to a “hold (c-)” rating in a report on Friday, February 27th. UBS Group upped their target price on shares of LifeStance Health Group from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Wall Street Zen upgraded LifeStance Health Group from a “hold” rating to a “buy” rating in a report on Sunday, February 8th. Finally, BTIG Research lifted their price target on LifeStance Health Group from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.83.

LifeStance Health Group Trading Up 0.6%

LifeStance Health Group stock traded up $0.04 during mid-day trading on Friday, hitting $6.99. 317,671 shares of the company’s stock were exchanged, compared to its average volume of 2,208,662. The company’s 50 day simple moving average is $7.14 and its 200-day simple moving average is $6.26. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $2.72 billion, a P/E ratio of 349.67 and a beta of 1.11. LifeStance Health Group has a fifty-two week low of $3.74 and a fifty-two week high of $8.09.

LifeStance Health Group (NASDAQ:LFST) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). LifeStance Health Group had a return on equity of 0.65% and a net margin of 0.68%.The business had revenue of $382.20 million for the quarter, compared to analyst estimates of $378.51 million. During the same period in the prior year, the business earned ($0.01) EPS. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, equities analysts anticipate that LifeStance Health Group will post -0.18 earnings per share for the current year.

LifeStance Health Group declared that its board has authorized a share repurchase plan on Wednesday, February 25th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at LifeStance Health Group

In related news, Director Darren M. Black sold 4,314,939 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $7.01, for a total transaction of $30,247,722.39. Following the sale, the director owned 29,209,776 shares in the company, valued at approximately $204,760,529.76. This represents a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Bessler sold 119,942 shares of the stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $7.04, for a total value of $844,391.68. Following the transaction, the director directly owned 1,318,983 shares of the company’s stock, valued at $9,285,640.32. This trade represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 4,585,025 shares of company stock worth $32,138,986. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On LifeStance Health Group

Institutional investors have recently bought and sold shares of the business. Park Edge Advisors LLC raised its stake in LifeStance Health Group by 14.4% in the fourth quarter. Park Edge Advisors LLC now owns 11,863 shares of the company’s stock valued at $84,000 after buying an additional 1,495 shares during the period. California State Teachers Retirement System increased its holdings in shares of LifeStance Health Group by 1.6% during the 4th quarter. California State Teachers Retirement System now owns 125,682 shares of the company’s stock worth $885,000 after acquiring an additional 1,966 shares during the last quarter. Vident Advisory LLC raised its stake in LifeStance Health Group by 12.7% in the 2nd quarter. Vident Advisory LLC now owns 21,732 shares of the company’s stock valued at $112,000 after acquiring an additional 2,447 shares during the period. Xponance LLC lifted its holdings in LifeStance Health Group by 26.4% during the 4th quarter. Xponance LLC now owns 13,144 shares of the company’s stock valued at $93,000 after purchasing an additional 2,745 shares during the last quarter. Finally, State of Wyoming boosted its position in LifeStance Health Group by 3.8% during the third quarter. State of Wyoming now owns 89,927 shares of the company’s stock worth $495,000 after purchasing an additional 3,298 shares during the period. Institutional investors and hedge funds 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.