Evercore ISI Raises Life360 (NASDAQ:LIF) Price Target to $95.00

Key Points

• Evercore ISI has raised its price target for Life360 (NASDAQ:LIF) from $55.00 to $95.00, indicating a potential upside of 28.83% from the stock's previous close.
• Life360 recently reported quarterly earnings of $0.05 per share, outperforming analysts' expectations of ($0.04), with revenue of $103.62 million.
• Several analysts have recently upgraded their ratings on Life360, with a consensus rating of "Moderate Buy" and an average target price of $83.86, following high institutional investor interest.

Life360 (NASDAQ:LIF - Get Free Report) had its price objective lifted by investment analysts at Evercore ISI from $55.00 to $95.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Evercore ISI's price target would indicate a potential upside of 28.83% from the stock's previous close.

A number of other equities research analysts have also issued reports on LIF. Citigroup initiated coverage on shares of Life360 in a report on Thursday, July 31st. They issued a "buy" rating and a $90.00 price objective for the company. Loop Capital upped their price objective on shares of Life360 from $52.00 to $58.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Wall Street Zen lowered shares of Life360 from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. JMP Securities upped their price objective on shares of Life360 from $62.00 to $95.00 and gave the company a "market outperform" rating in a report on Tuesday. Finally, Canaccord Genuity Group increased their target price on shares of Life360 from $75.00 to $86.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $83.86.

Life360 Stock Down 0.1%

LIF opened at $73.74 on Tuesday. The company has a market cap of $5.64 billion, a P/E ratio of 819.33 and a beta of 3.46. Life360 has a 52-week low of $29.62 and a 52-week high of $78.32. The firm's 50-day moving average price is $67.99 and its 200-day moving average price is $52.79.

Life360 (NASDAQ:LIF - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.09. Life360 had a net margin of 2.42% and a return on equity of 4.05%. The company had revenue of $103.62 million during the quarter, compared to analysts' expectations of $101.48 million. On average, research analysts anticipate that Life360 will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling

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 transaction of $190,718.75. Following the completion of the sale, the director directly owned 29,778 shares in the company, valued at approximately $1,817,351.34. This trade represents a 9.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles J. Prober sold 7,942 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $61.63, for a total value of $489,465.46. Following the sale, the director owned 105,456 shares of the company's stock, valued at $6,499,253.28. The trade was a 7.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 112,793 shares of company stock worth $7,156,984.

Institutional Trading of Life360

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Life360 by 3,865.6% in the first quarter. Vanguard Group Inc. now owns 5,683,626 shares of the company's stock valued at $218,194,000 after acquiring an additional 5,540,302 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Life360 by 320.0% during the first quarter. Bank of New York Mellon Corp now owns 549,272 shares of the company's stock worth $21,087,000 after buying an additional 418,493 shares in the last quarter. Marshall Wace LLP grew its stake in Life360 by 86.2% in the fourth quarter. Marshall Wace LLP now owns 411,326 shares of the company's stock valued at $16,975,000 after purchasing an additional 190,422 shares in the last quarter. Citadel Advisors LLC grew its stake in Life360 by 1,233.3% in the fourth quarter. Citadel Advisors LLC now owns 200,781 shares of the company's stock valued at $8,286,000 after purchasing an additional 185,722 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Life360 by 2,245.1% in the first quarter. Victory Capital Management Inc. now owns 189,645 shares of the company's stock valued at $7,280,000 after buying an additional 181,558 shares during the last quarter. 20.00% of the stock is currently owned by institutional investors.

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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