Canaccord Genuity Group Increases Life360 (NASDAQ:LIF) Price Target to $90.00

Key Points

• Canaccord Genuity Group has increased its price target for Life360 (NASDAQ:LIF) from $86.00 to $90.00, reflecting a potential upside of 7.72% from the last closing price.
• Life360 has recently seen a surge in trading activity, with its share price rising 13.3% on Tuesday, hitting $83.55, and experiencing higher-than-average trading volume.
• Analysts have varying ratings on Life360, with seven analysts rating it a "buy" while one has rated it a "hold," indicating overall positive sentiment towards the stock.

Life360 (NASDAQ:LIF - Get Free Report) had its price objective upped by analysts at Canaccord Genuity Group from $86.00 to $90.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's price objective would suggest a potential upside of 7.72% from the stock's previous close.

LIF has been the topic of several other reports. UBS Group restated a "buy" rating and issued a $85.00 price objective (up from $71.00) on shares of Life360 in a report on Tuesday. Citigroup began coverage on shares of Life360 in a research report on Thursday, July 31st. They set a "buy" rating and a $90.00 price objective for the company. Stifel Nicolaus increased their target price on shares of Life360 from $87.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday. Wall Street Zen cut shares of Life360 from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Loop Capital raised their target price on shares of Life360 from $52.00 to $58.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $86.43.

Life360 Trading Up 13.3%

NASDAQ LIF traded up $9.81 on Tuesday, reaching $83.55. The company's stock had a trading volume of 2,170,759 shares, compared to its average volume of 662,309. The firm has a market cap of $6.39 billion, a PE ratio of 928.33 and a beta of 3.46. Life360 has a 52 week low of $29.62 and a 52 week high of $84.02. The business has a 50-day moving average price of $67.99 and a 200 day moving average price of $52.79.

Life360 (NASDAQ:LIF - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.06. Life360 had a net margin of 2.42% and a return on equity of 4.05%. The firm had revenue of $115.38 million for the quarter, compared to analyst estimates of $109.33 million. Analysts anticipate that Life360 will post -0.17 earnings per share for the current fiscal year.

Insider Activity

In other Life360 news, Director Brit Morin sold 47,584 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $61.14, for a total value of $2,909,285.76. Following the transaction, the director directly owned 26,442 shares of the company's stock, valued at $1,616,663.88. This trade represents a 64.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles J. Prober sold 7,942 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $61.63, for a total transaction of $489,465.46. Following the transaction, the director owned 105,456 shares of the company's stock, valued at approximately $6,499,253.28. This represents a 7.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 112,793 shares of company stock valued at $7,156,984 in the last 90 days.

Institutional Trading of Life360

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. grew its holdings in Life360 by 53.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,642 shares of the company's stock worth $107,000 after acquiring an additional 570 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Life360 by 50.8% during the 2nd quarter. Rhumbline Advisers now owns 24,455 shares of the company's stock valued at $1,596,000 after acquiring an additional 8,238 shares during the period. Legal & General Group Plc lifted its position in shares of Life360 by 11.5% during the 2nd quarter. Legal & General Group Plc now owns 71,410 shares of the company's stock valued at $4,660,000 after acquiring an additional 7,354 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Life360 by 292.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 186,091 shares of the company's stock valued at $12,142,000 after acquiring an additional 138,633 shares during the period. Finally, Catalyst Funds Management Pty Ltd raised its holdings in Life360 by 269.8% during the second quarter. Catalyst Funds Management Pty Ltd now owns 61,588 shares of the company's stock worth $4,019,000 after buying an additional 44,935 shares during the last quarter. Institutional investors own 20.00% of the company's stock.

Life360 Company Profile

Life360 Inc is a family connection and safety company. Its business category includes mobile app and Tile tracking devices with a range of services, including location sharing, safe driver reports and crash detection with emergency dispatch. Life360 Inc is based in SAN FRANCISCO.

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