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LifeStance Health Group Inc. (NASDAQ:LFST) is one of the 10 Stocks Outperforming Wall Street With Monster Returns.

LifeStance Health climbed to a new two-year high on Thursday, as investors gobbled up shares following a stellar earnings performance in the first quarter of the year, with profits soaring by over 1,900 percent.

At intra-day trading, the stock climbed to its highest price of $8.89 before trimming a few cents to end the session up by 20.24 percent at $8.85 apiece.

Photo by Gustavo Fring on Pexels

In an updated report, LifeStance Health Group Inc. (NASDAQ:LFST) said that its net income skyrocketed by 1,908 percent to $14.2 million from only $709,000 in the same period last year, while revenues increased by 21 percent to $403.5 million from $333 million year-on-year.

LifeStance Health Group Inc. (NASDAQ:LFST) CEO Dave Bourdon pointed to the growing demand for mental healthcare as having buoyed the company’s strong results during the period.

Looking ahead, the company raised its revenue growth forecast for the full year period to a range of $1.64 billion to $1.68 billion from the $1.615 billion to $1.655 billion previously.

It also targets revenues at $405 million to $425 million for the second quarter, or an implied growth of 17 percent to 23 percent from the $345.3 million in the same period a year earlier.

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