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

LifeStance Health Group (NASDAQ:LFST) posted its quarterly earnings results on Thursday. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05, Briefing.com reports. The business had revenue of $312.70 million during the quarter, compared to analysts’ expectations of $302.25 million. LifeStance Health Group had a negative net margin of 13.05% and a negative return on equity of 10.51%. The business’s quarterly revenue was up 18.9% on a year-over-year basis. During the same period last year, the company posted ($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 Stock Performance

LFST traded down $0.27 during trading on Friday, hitting $7.41. 2,848,715 shares of the company traded hands, compared to its average volume of 1,500,213. LifeStance Health Group has a one year low of $4.64 and a one year high of $9.20. The stock’s fifty day moving average is $6.90 and its 200 day moving average is $6.20. 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 firm has a market cap of $2.84 billion, a P/E ratio of -18.05 and a beta of 1.24.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. UBS Group dropped their price target on LifeStance Health Group from $9.00 to $7.50 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Barclays decreased their price target 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 analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $8.25.

Insider Buying and Selling at LifeStance Health Group

In other LifeStance Health Group news, insider Ann Varanakis sold 5,269 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $6.28, for a total transaction of $33,089.32. Following the completion of the sale, the insider now owns 263,007 shares of the company’s stock, valued at $1,651,683.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate 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.