LifeStance Health Group (NASDAQ:LFST) Posts Earnings Results, Beats Expectations By $0.01 EPS

LifeStance Health Group (NASDAQ:LFST) released its earnings results on Thursday. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01, Briefing.com reports. The company had revenue of $312.30 million for the quarter, compared to analysts’ expectations of $305.85 million. LifeStance Health Group had a negative return on equity of 11.92% and a negative net margin of 15.69%. The business’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.13) EPS. LifeStance Health Group updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

LifeStance Health Group Stock Performance

LifeStance Health Group stock traded down $0.33 during midday trading on Friday, reaching $5.60. The stock had a trading volume of 1,994,944 shares, compared to its average volume of 1,522,360. LifeStance Health Group has a 12 month low of $4.64 and a 12 month high of $9.20. The firm’s 50-day moving average price is $5.38 and its 200 day moving average price is $6.08. The firm has a market capitalization of $2.14 billion, a PE ratio of -11.67 and a beta of 1.20. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.20.

Wall Street Analyst Weigh In

LFST has been the topic of a number of recent analyst reports. Barclays lowered their target price on LifeStance Health Group from $8.00 to $6.00 and set an “underweight” rating on the stock in a research note on Friday. Morgan Stanley reiterated an “overweight” rating and set a $10.00 target price on shares of LifeStance Health Group in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, LifeStance Health Group has an average rating of “Hold” and a consensus target price of $8.40.

Insider Activity at LifeStance Health Group

In related news, insider Paula Cipollone sold 48,278 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $7.22, for a total value of $348,567.16. Following the sale, the insider now directly owns 239,915 shares in the company, valued at approximately $1,732,186.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other LifeStance Health Group news, insider Danish J. Qureshi sold 150,000 shares of LifeStance Health Group stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $5.21, for a total transaction of $781,500.00. Following the completion of the transaction, the insider now owns 439,002 shares of the company’s stock, valued at approximately $2,287,200.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paula Cipollone sold 48,278 shares of LifeStance Health Group stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $7.22, for a total value of $348,567.16. Following the transaction, the insider now directly owns 239,915 shares of the company’s stock, valued at approximately $1,732,186.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,085,716 shares of company stock worth $23,996,444. Company insiders own 6.60% of the company’s stock.

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.