Bank of America Issues Positive Forecast for Life360 (NASDAQ:LIF) Stock Price

Key Points

• Bank of America raised its price target on Life360 from $60 to $66 and kept a buy rating, implying about 18.8% upside from the prior close.
• Other analysts remain generally constructive, with the stock carrying a Moderate Buy consensus and a MarketBeat consensus target of $64.65.
• Life360 shares opened at $55.56; the company has a market cap of about $4.5 billion, while insiders have recently sold shares and institutional investors own about 20% of the stock.

Life360 (NASDAQ:LIF - Get Free Report) had its target price raised by Bank of America from $60.00 to $66.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's price objective points to a potential upside of 18.79% from the stock's previous close.

A number of other equities analysts also recently commented on the company. Canaccord Genuity Group set a $72.00 price objective on Life360 in a report on Tuesday, May 12th. Citigroup boosted their target price on shares of Life360 from $60.15 to $66.65 and gave the stock a "buy" rating in a research report on Monday, July 6th. DA Davidson raised their price target on shares of Life360 from $40.00 to $42.00 and gave the company a "neutral" rating in a report on Monday, June 22nd. Wall Street Zen lowered shares of Life360 from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Finally, Macquarie Infrastructure assumed coverage on shares of Life360 in a report on Tuesday, April 28th. They issued an "outperform" rating and a $32.20 price objective for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.65.

Life360 Stock Performance

Shares of LIF stock opened at $55.56 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.37 and a quick ratio of 5.23. Life360 has a fifty-two week low of $37.01 and a fifty-two week high of $112.54. The stock's 50-day moving average is $47.34 and its two-hundred day moving average is $49.25. The firm has a market cap of $4.50 billion, a P/E ratio of 32.12 and a beta of 2.34.

Insider Activity at Life360

In related news, Director Brit Morin sold 4,655 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $55.00, for a total value of $256,025.00. Following the completion of the sale, the director owned 25,975 shares in the company, valued at approximately $1,428,625. This trade represents a 15.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Chris Hulls sold 16,042 shares of Life360 stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $47.07, for a total value of $755,096.94. Following the sale, the director directly owned 406,899 shares in the company, valued at approximately $19,152,735.93. This trade represents a 3.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 57,006 shares of company stock worth $2,614,066. Insiders own 6.80% of the company's stock.

Institutional Investors Weigh In On Life360

A number of institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System raised its position in shares of Life360 by 0.4% during the second quarter. California State Teachers Retirement System now owns 61,697 shares of the company's stock worth $4,026,000 after acquiring an additional 254 shares during the last quarter. Swiss Life Asset Management Ltd raised its holdings in Life360 by 8.2% during the 4th quarter. Swiss Life Asset Management Ltd now owns 3,617 shares of the company's stock worth $232,000 after purchasing an additional 273 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Life360 by 21.1% during the 4th quarter. Russell Investments Group Ltd. now owns 1,673 shares of the company's stock valued at $107,000 after purchasing an additional 292 shares during the period. NewEdge Advisors LLC bought a new position in shares of Life360 in the 3rd quarter valued at about $32,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Life360 by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,127 shares of the company's stock worth $1,379,000 after acquiring an additional 343 shares during the period. Institutional investors and hedge funds own 20.00% of the company's stock.

Life360 Company Profile

Life360, Inc NASDAQ: LIF operates a location-based safety and communication platform designed to help families stay connected and secure. Through its flagship mobile application, Life360 offers real-time location sharing, check-in alerts and geofencing tools that enable users to monitor the whereabouts of family members or other trusted circles. The company's services extend to emergency response features, including SOS alerts, 24/7 roadside assistance and crash detection capabilities powered by machine-learning algorithms, all aimed at enhancing user safety on the road and at home.

The Life360 platform is offered under a freemium model, with a basic no-cost tier providing essential location sharing and alerts.

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