Citigroup Issues Pessimistic Forecast for Life360 (NASDAQ:LIF) Stock Price

Key Points

• Citigroup lowered its Life360 price target from $66.65 to $60.10 but maintained a “buy” rating, implying about 19.5% upside from the prior close.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $60.72, though targets range from $32.20 to $68.00.
• Life360’s latest quarterly revenue of $158.96 million exceeded estimates, but adjusted EPS of $0.06 fell short of the $0.08 consensus; shares recently traded at $50.28.

Life360 (NASDAQ:LIF - Get Free Report) had its price objective reduced by investment analysts at Citigroup from $66.65 to $60.10 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's target price would suggest a potential upside of 19.53% from the company's previous close.

Other analysts have also recently issued research reports about the company. Evercore set a $68.00 price target on Life360 in a research report on Tuesday, May 12th. Macquarie Infrastructure assumed coverage on Life360 in a research report on Tuesday, April 28th. They issued an "outperform" rating and a $32.20 price objective on the stock. DA Davidson lifted their target price on Life360 from $42.00 to $47.00 and gave the company a "neutral" rating in a research note on Tuesday. Bank of America lifted their price objective on shares of Life360 from $60.00 to $66.00 and gave the company a "buy" rating in a research report on Thursday, July 16th. Finally, Wall Street Zen downgraded shares of Life360 from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $60.72.

Life360 Stock Performance

Shares of LIF traded up $1.13 during trading hours on Thursday, hitting $50.28. The stock had a trading volume of 1,132,257 shares, compared to its average volume of 1,052,066. Life360 has a 12 month low of $37.01 and a 12 month high of $112.54. The stock has a fifty day moving average price of $52.85 and a 200 day moving average price of $48.37. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.37 and a quick ratio of 5.23. The firm has a market capitalization of $4.07 billion, a PE ratio of 29.27 and a beta of 2.35.

Life360 (NASDAQ:LIF - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.02). The firm had revenue of $158.96 million for the quarter, compared to the consensus estimate of $156.68 million. Life360 had a net margin of 25.73% and a return on equity of 5.93%. Analysts anticipate that Life360 will post 0.42 EPS for the current year.

Insider Activity at Life360

In related news, Director Charles J. Prober sold 7,930 shares of the business's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $46.07, for a total value of $365,335.10. Following the completion of the transaction, the director owned 109,911 shares in the company, valued at $5,063,599.77. The trade was a 6.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brit Morin sold 10,701 shares of the firm's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $60.00, for a total value of $642,060.00. Following the completion of the transaction, the director owned 20,157 shares of the company's stock, valued at $1,209,420. The trade was a 34.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 94,707 shares of company stock worth $5,008,946 in the last three months. Corporate insiders own 6.80% of the company's stock.

Institutional Investors Weigh In On Life360

A number of large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Life360 by 6.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,175 shares of the company's stock worth $237,000 after purchasing an additional 378 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Life360 by 12.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 138,748 shares of the company's stock worth $5,327,000 after buying an additional 15,420 shares in the last quarter. Strs Ohio bought a new position in Life360 during the 1st quarter worth $157,000. New York State Common Retirement Fund raised its holdings in Life360 by 59.4% in the 2nd quarter. New York State Common Retirement Fund now owns 5,100 shares of the company's stock valued at $333,000 after acquiring an additional 1,900 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Life360 by 1,065.1% during the 2nd quarter. Invesco Ltd. now owns 163,970 shares of the company's stock valued at $10,699,000 after acquiring an additional 149,896 shares during the period. Institutional investors 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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