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

LifeMD, Inc. (NASDAQ:LFMD) has been given an average recommendation of “Moderate Buy” by the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $7.57.

Several equities research analysts have issued reports on the company. Weiss Ratings restated a “sell (d)” rating on shares of LifeMD in a research report on Tuesday, August 4th. Mizuho set a $7.00 price objective on LifeMD in a research note on Thursday, August 6th. B. Riley Financial began coverage on LifeMD in a research note on Friday, September 11th. They set a “buy” rating and a $8.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of LifeMD in a report on Thursday, September 17th. Finally, Lake Street Capital set a $5.00 target price on LifeMD in a research note on Thursday, August 6th.

LifeMD Stock Down 0.8%

LFMD opened at $2.63 on Friday. The company has a market capitalization of $126.77 million, a price-to-earnings ratio of -52.59 and a beta of 1.99. The firm has a 50-day moving average price of $3.17 and a 200-day moving average price of $3.92. LifeMD has a twelve month low of $2.56 and a twelve month high of $6.68.

LifeMD (NASDAQ:LFMD) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business had revenue of $47.28 million for the quarter, compared to analysts’ expectations of $49.16 million. LifeMD had a net margin of 0.10% and a negative return on equity of 168.23%. On average, sell-side analysts expect that LifeMD will post -0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LifeMD

A number of institutional investors and hedge funds have recently modified their holdings of the company. Chapin Davis Inc. bought a new stake in LifeMD during the 3rd quarter worth approximately $29,000. State Street Corp boosted its holdings in LifeMD by 22.6% in 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. WINTON GROUP Ltd bought a new position in LifeMD in the 2nd quarter valued at $113,000. Integrated Wealth Concepts LLC purchased a new position in shares of LifeMD during the 2nd quarter valued at $25,000. Finally, Penn Capital Management Company LLC purchased a new position in shares of LifeMD during the 2nd quarter valued at $926,000. 35.52% of the stock is owned by hedge funds and other institutional investors.

About LifeMD

LifeMD, Inc is a U.S.-based telehealth company that provides virtual medical care through its digital health platform. The company connects patients with licensed health care professionals through online consultations and supports diagnosis, treatment, prescription management and ongoing care without requiring an in-person visit.

Its services include virtual primary care and programs focused on areas such as weight management, men’s and women’s health, dermatology and other common health needs.