UBS Raised the Firm's PT on LifeStance Health Group (LFST), Kept a Buy Rating

LifeStance Health Group, Inc. (NASDAQ:LFST) is one of the Best 52-Week Low Penny Stocks to Buy Now. On August 8, UBS raised the firm’s price target for LifeStance Health Group, Inc. (NASDAQ:LFST) from $8.50 to $9, while maintaining a Buy rating on the stock.

The increased price target follows the company’s fiscal second-quarter earnings release. The company exceeded both revenue and earnings estimates during the quarter. LifeStance Health Group, Inc. (NASDAQ:LFST) posted a revenue of $345.31 million, reflecting a 10.56% year-over-year growth and ahead of estimates by $58,730. Moreover, the EPS of negative $0.01 also beat the analyst consensus by $0.02.

Management noted that they increased the number of clinicians providing care by 11% year-over-year, which led to a 12% increase in visit volumes during the quarter. Looking ahead, management has reaffirmed its full-year revenue guidance in the range of $1.40 billion to $1.44 billion.

LifeStance Health Group, Inc. (NASDAQ:LFST) is a reimagining mental health company that provides both virtual and in-person mental healthcare for children, adolescents, and adults.

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Disclosure: None. This article is originally published at Insider Monkey.