LifeStance Health Group (NASDAQ:LFST) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

LifeStance Health Group (NASDAQ:LFST) announced its quarterly earnings data on Thursday. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.05, Briefing.com reports. The business had revenue of $312.70 million during the quarter, compared to analyst estimates of $302.25 million. LifeStance Health Group had a negative return on equity of 10.51% and a negative net margin of 13.05%. LifeStance Health Group’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period last year, the company earned ($0.17) earnings per share. LifeStance Health Group updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

LifeStance Health Group Trading Down 4.2 %

Shares of LFST stock traded down $0.32 during trading hours on Friday, hitting $7.36. 3,799,092 shares of the company’s stock traded hands, compared to its average volume of 1,082,470. LifeStance Health Group has a 12 month low of $4.64 and a 12 month high of $9.20. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.20. The stock’s 50 day simple moving average is $6.92 and its 200 day simple moving average is $6.21. The stock has a market cap of $2.82 billion, a PE ratio of -17.95 and a beta of 1.24.

Insiders Place Their Bets

In related news, insider Ann Varanakis sold 5,269 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $6.28, for a total transaction of $33,089.32. Following the transaction, the insider now directly owns 263,007 shares in the company, valued at approximately $1,651,683.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

LFST has been the topic of several research analyst reports. UBS Group lowered their price target on LifeStance Health Group from $9.00 to $7.50 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Barclays cut their target price on shares of LifeStance Health Group from $8.00 to $6.00 and set an “underweight” rating for the company in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.25.

LifeStance Health Group Company Profile

LifeStance Health Group, Inc, through its subsidiaries, provides outpatient mental health services to children, adolescents, adults, and geriatrics in the United States. The company offers patients a suite of mental health services, including psychiatric evaluations and treatment, psychological, and neuropsychological testing, as well as individual, family, and group therapy.