JPMorgan Chase & Co. Forecasts Strong Price Appreciation for LifeStance Health Group (NASDAQ:LFST) Stock

LifeStance Health Group (NASDAQ:LFST) had its price objective raised by analysts at JPMorgan Chase & Co. from $8.00 to $9.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 17.65% from the stock’s current price.

Several other equities research analysts have also recently weighed in on LFST. Jefferies Financial Group upgraded shares of LifeStance Health Group to a “strong-buy” rating in a research report on Thursday, March 12th. Weiss Ratings upgraded shares of LifeStance Health Group from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Friday, February 27th. Zacks Research upgraded shares of LifeStance Health Group from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Wall Street Zen upgraded shares of LifeStance Health Group from a “hold” rating to a “buy” rating in a report on Sunday, February 8th. Finally, UBS Group raised their price target on shares of LifeStance Health Group from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $9.86.

LifeStance Health Group Trading Down 3.0%

LFST opened at $7.65 on Thursday. LifeStance Health Group has a twelve month low of $3.74 and a twelve month high of $8.89. The company has a quick ratio of 1.65, a current ratio of 1.48 and a debt-to-equity ratio of 0.18. The company has a fifty day moving average of $6.88 and a 200-day moving average of $6.79. The stock has a market cap of $2.97 billion, a PE ratio of 127.50 and a beta of 1.20.

LifeStance Health Group (NASDAQ:LFST) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.03. LifeStance Health Group had a net margin of 1.55% and a return on equity of 1.56%. The company had revenue of $403.48 million during the quarter, compared to analysts’ expectations of $387.46 million. LifeStance Health Group’s revenue for the quarter was up 21.2% on a year-over-year basis. On average, sell-side analysts predict that LifeStance Health Group will post 0.11 EPS for the current year.

LifeStance Health Group announced that its board has approved a share repurchase program on Wednesday, February 25th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other LifeStance Health Group news, Director Eric Shuey sold 243,362 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total value of $1,951,763.24. Following the completion of the sale, the director directly owned 867,562 shares in the company, valued at approximately $6,957,847.24. This trade represents a 21.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Bessler sold 575,034 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $8.02, for a total transaction of $4,611,772.68. Following the completion of the sale, the director owned 986,931 shares of the company’s stock, valued at $7,915,186.62. The trade was a 36.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 11,182,996 shares of company stock worth $85,295,948. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LFST. Silversmith Partners I GP LLC bought a new position in shares of LifeStance Health Group in the fourth quarter valued at $100,842,000. AustralianSuper Pty Ltd bought a new position in shares of LifeStance Health Group in the third quarter valued at $17,056,000. Vanguard Group Inc. lifted its stake in shares of LifeStance Health Group by 21.1% in the fourth quarter. Vanguard Group Inc. now owns 17,700,041 shares of the company’s stock valued at $124,608,000 after buying an additional 3,086,506 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of LifeStance Health Group by 38.5% in the first quarter. Jennison Associates LLC now owns 10,228,801 shares of the company’s stock valued at $65,157,000 after buying an additional 2,843,388 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of LifeStance Health Group by 62.3% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,793,336 shares of the company’s stock valued at $26,363,000 after buying an additional 1,839,465 shares in the last quarter. 85.50% of the stock is owned by institutional investors.

About LifeStance Health Group

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.