Life360 (NASDAQ:LIF) Given New $90.00 Price Target at Canaccord Genuity Group

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 - Free Report) had its price objective boosted by Canaccord Genuity Group from $86.00 to $90.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms also recently commented on LIF. Wall Street Zen downgraded Life360 from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Stifel Nicolaus increased their target price on Life360 from $87.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. UBS Group restated a "buy" rating and issued a $85.00 price target (up from $71.00) on shares of Life360 in a research note on Tuesday, August 12th. Citigroup initiated coverage on Life360 in a research note on Thursday, July 31st. They set a "buy" rating and a $90.00 target price on the stock. Finally, JMP Securities lifted their price objective on Life360 from $62.00 to $95.00 and gave the company a "market outperform" rating in a research note on Tuesday, August 12th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $86.43.

Life360 Trading Up 0.1%

Life360 stock traded up $0.10 during midday trading on Tuesday, reaching $85.43. The stock had a trading volume of 941,198 shares, compared to its average volume of 840,572. The company has a fifty day moving average of $69.73 and a 200 day moving average of $53.88. The company has a quick ratio of 7.01, a current ratio of 7.14 and a debt-to-equity ratio of 0.84. Life360 has a 52-week low of $29.62 and a 52-week high of $89.80. The firm has a market cap of $6.63 billion, a price-to-earnings ratio of 266.98 and a beta of 3.46.

Life360 (NASDAQ:LIF - Get Free Report) last posted its quarterly earnings data 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 6.45% and a return on equity of 7.65%. The company had revenue of $115.38 million for the quarter, compared to analyst estimates of $109.33 million. On average, analysts anticipate that Life360 will post -0.17 earnings per share for the current fiscal year.

Insider Activity

In other Life360 news, Director John Philip Coghlan sold 3,125 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $61.03, for a total value of $190,718.75. Following the completion of the transaction, the director owned 29,778 shares in the company, valued at $1,817,351.34. This trade represents a 9.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Lauren Antonoff sold 4,546 shares of Life360 stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $62.50, for a total value of $284,125.00. Following the sale, the chief operating officer owned 312,324 shares in the company, valued at $19,520,250. This represents a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 120,723 shares of company stock worth $7,824,134 over the last quarter.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LIF. California State Teachers Retirement System lifted its holdings in Life360 by 0.4% during the 2nd quarter. California State Teachers Retirement System now owns 61,697 shares of the company's stock worth $4,026,000 after buying an additional 254 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Life360 by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 21,127 shares of the company's stock valued at $1,379,000 after purchasing an additional 343 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Life360 by 6.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,175 shares of the company's stock valued at $237,000 after buying an additional 378 shares during the period. Summit Investment Advisors Inc. grew its position in Life360 by 82.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the company's stock worth $44,000 after buying an additional 484 shares in the last quarter. Finally, WealthPlan Investment Management LLC boosted its position in Life360 by 5.6% in the first quarter. WealthPlan Investment Management LLC now owns 10,550 shares of the company's stock valued at $405,000 after buying an additional 558 shares in the last quarter. 20.00% of the stock is owned by institutional investors and hedge funds.

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.