LifeStance Health Group (NASDAQ:LFST) Posts Quarterly Earnings Results, Beats Estimates 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, beating analysts’ consensus estimates of ($0.07) by $0.05, Briefing.com reports. LifeStance Health Group had a negative return on equity of 10.51% and a negative net margin of 13.05%. The business had revenue of $312.70 million during the quarter, compared to analysts’ expectations of $302.25 million. During the same quarter in the previous year, the business earned ($0.17) earnings per share. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year. LifeStance Health Group updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

LifeStance Health Group Trading Down 4.0 %

Shares of NASDAQ:LFST traded down $0.31 during trading hours on Friday, hitting $7.37. 3,243,556 shares of the company’s stock traded hands, compared to its average volume of 1,502,032. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.22 and a quick ratio of 1.22. The business has a fifty day moving average price of $6.90 and a 200-day moving average price of $6.20. LifeStance Health Group has a 1 year low of $4.64 and a 1 year high of $9.20. The firm has a market capitalization of $2.82 billion, a P/E ratio of -18.05 and a beta of 1.24.

Insider Buying and Selling at LifeStance Health Group

In other LifeStance Health Group news, insider Ann Varanakis sold 5,269 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was 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 $1,651,683.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 6.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LFST has been the subject of several research analyst reports. 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. UBS Group reduced their price target on shares of 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, LifeStance Health Group currently has a consensus rating of “Hold” and an average price target of $8.25.

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.