JMP Securities Issues Positive Forecast for Life360 (NASDAQ:LIF) Stock Price

Key Points

• JMP Securities has raised its price target for Life360 (NASDAQ:LIF) from $62 to $95, suggesting a potential upside of 28.83% from the current stock price and maintaining a "market outperform" rating.
• Other research firms like UBS Group and Citigroup have also increased their price targets for Life360, with UBS setting a target of $71 and Citigroup at $90, indicating a general bullish sentiment among analysts.
• Life360 has recently reported earnings of $0.05 per share, which exceeded analysts' expectations, reflecting a revenue of $103.62 million for the quarter, surpassing forecasts.

Life360 (NASDAQ:LIF - Get Free Report) had its price objective lifted by analysts at JMP Securities from $62.00 to $95.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. JMP Securities' target price would indicate a potential upside of 28.83% from the company's current price.

Several other research firms have also recently weighed in on LIF. UBS Group boosted their price target on Life360 from $57.00 to $71.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Wall Street Zen cut Life360 from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Citigroup initiated coverage on 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 upped their price objective on Life360 from $87.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Loop Capital upped their price objective on Life360 from $52.00 to $58.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Life360 presently has a consensus rating of "Moderate Buy" and an average price target of $83.86.

Life360 Price Performance

LIF opened at $73.74 on Tuesday. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 819.33 and a beta of 3.46. The stock's 50 day simple moving average is $67.99 and its 200 day simple moving average is $52.79. Life360 has a 1 year low of $29.62 and a 1 year high of $78.32.

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

Insider Activity at Life360

In other news, CFO Russell John Burke sold 3,104 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $75.87, for a total value of $235,500.48. Following the completion of the sale, the chief financial officer directly owned 196,418 shares of the company's stock, valued at $14,902,233.66. This trade represents a 1.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Lauren Antonoff sold 4,546 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $75.69, for a total value of $344,086.74. Following the completion of the sale, the chief operating officer directly owned 307,778 shares of the company's stock, valued at $23,295,716.82. The trade was a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 112,793 shares of company stock valued at $7,156,984 over the last ninety days.

Institutional Investors Weigh In On Life360

Several hedge funds and other institutional investors have recently modified their holdings of the business. Catalyst Funds Management Pty Ltd raised its holdings in shares of Life360 by 269.8% in 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 period. Root Financial Partners LLC purchased a new stake in shares of Life360 in the second quarter worth approximately $2,592,000. Intech Investment Management LLC raised its holdings in shares of Life360 by 81.7% in the second quarter. Intech Investment Management LLC now owns 10,268 shares of the company's stock worth $670,000 after buying an additional 4,616 shares during the period. SG Americas Securities LLC raised its holdings in shares of Life360 by 185.1% in the second quarter. SG Americas Securities LLC now owns 26,851 shares of the company's stock worth $1,752,000 after buying an additional 17,434 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Life360 by 64.5% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 3,654 shares of the company's stock worth $238,000 after buying an additional 1,433 shares during the period. 20.00% of the stock is currently owned by hedge funds and other 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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