LifeStance Health Group (NASDAQ:LFST) Shares Gap Up Following Better-Than-Expected Earnings

LifeStance Health Group, Inc. (NASDAQ:LFST)’s stock price gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $7.51, but opened at $8.02. LifeStance Health Group shares last traded at $7.31, with a volume of 768,998 shares changing hands.

The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. LifeStance Health Group had a negative net margin of 7.90% and a negative return on equity of 6.66%.

Wall Street Analyst Weigh In

A number of research firms have commented on LFST. Barclays lifted their target price on shares of LifeStance Health Group from $6.00 to $7.00 and gave the stock an “underweight” rating in a research report on Monday, November 11th. The Goldman Sachs Group raised shares of LifeStance Health Group from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $8.70.

Institutional Trading of LifeStance Health Group

Hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. lifted its stake in LifeStance Health Group by 124.4% in the 4th quarter. Blue Trust Inc. now owns 3,828 shares of the company’s stock worth $27,000 after purchasing an additional 2,122 shares in the last quarter. Townsquare Capital LLC purchased a new stake in LifeStance Health Group in the 3rd quarter worth $73,000. R Squared Ltd purchased a new stake in LifeStance Health Group in the 4th quarter worth $80,000. Ameriprise Financial Inc. purchased a new stake in LifeStance Health Group in the 4th quarter worth $87,000. Finally, Cibc World Markets Corp purchased a new stake in LifeStance Health Group in the 4th quarter worth $96,000. Hedge funds and other institutional investors own 85.50% of the company’s stock.

LifeStance Health Group Stock Performance

The firm has a market cap of $2.83 billion, a PE ratio of -28.40 and a beta of 1.28. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.19. The firm’s 50 day simple moving average is $7.78 and its 200 day simple moving average is $7.20.

About LifeStance Health Group

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.