Citigroup Initiates Coverage on Life360 (NASDAQ:LIF)

Key Points

• Citigroup has initiated coverage of Life360 (NASDAQ:LIF) with a buy rating and a price target of $90.00, indicating a potential upside of 17.80% from the current stock price.
• Life360 has received several upgrades from other analysts, with target prices ranging from $58.00 to $87.00, while its consensus target price is currently $71.00.
• Institutional investors have significantly increased their stakes in Life360, with Vanguard Group growing its holdings by 3,865.6% in the first quarter.

Equities researchers at Citigroup assumed coverage on shares of Life360 (NASDAQ:LIF - Get Free Report) in a report issued on Thursday, Marketbeat Ratings reports. The firm set a "buy" rating and a $90.00 price target on the stock. Citigroup's target price would suggest a potential upside of 20.97% from the stock's current price.

Several other brokerages also recently commented on LIF. Wall Street Zen lowered shares of Life360 from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. UBS Group upped their price target on shares of Life360 from $57.00 to $71.00 and gave the company a "buy" rating in a report on Monday, June 16th. Loop Capital lifted their price objective on Life360 from $52.00 to $58.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. JMP Securities raised their target price on Life360 from $55.00 to $62.00 and gave the company a "market outperform" rating in a report on Monday, June 16th. Finally, Stifel Nicolaus lifted their price target on Life360 from $48.00 to $87.00 and gave the stock a "buy" rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $71.00.

Life360 Stock Performance

Shares of Life360 stock traded down $2.19 during midday trading on Thursday, reaching $74.40. 711,987 shares of the company's stock traded hands, compared to its average volume of 690,953. Life360 has a 52 week low of $28.94 and a 52 week high of $78.32. The company's 50 day simple moving average is $66.42 and its 200 day simple moving average is $51.44. The company has a market cap of $5.69 billion, a price-to-earnings ratio of 826.67 and a beta of 3.46.

Life360 (NASDAQ:LIF - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $103.62 million during the quarter, compared to analysts' expectations of $101.48 million. Life360 had a return on equity of 4.05% and a net margin of 2.42%. As a group, equities research analysts predict that Life360 will post -0.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Charles J. Prober sold 7,942 shares of the company's stock in a transaction dated Friday, June 13th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Lauren Antonoff sold 4,546 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $62.50, for a total transaction of $284,125.00. Following the transaction, the chief operating officer owned 312,324 shares of the company's stock, valued at approximately $19,520,250. This represents a 1.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,168 shares of company stock valued at $6,950,554 in the last ninety days. 8.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Life360

Hedge funds have recently modified their holdings of the stock. Teacher Retirement System of Texas raised its stake in shares of Life360 by 81.8% in the first quarter. Teacher Retirement System of Texas now owns 13,365 shares of the company's stock valued at $513,000 after acquiring an additional 6,014 shares during the last quarter. Emerald Advisers LLC increased its stake in shares of Life360 by 53.8% in the first quarter. Emerald Advisers LLC now owns 270,817 shares of the company's stock valued at $10,397,000 after buying an additional 94,679 shares in the last quarter. Barclays PLC increased its stake in shares of Life360 by 280.6% in the fourth quarter. Barclays PLC now owns 30,952 shares of the company's stock valued at $1,278,000 after buying an additional 22,820 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Life360 by 320.0% in the first quarter. Bank of New York Mellon Corp now owns 549,272 shares of the company's stock valued at $21,087,000 after buying an additional 418,493 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Life360 by 2,816.3% during the 4th quarter. BNP Paribas Financial Markets now owns 72,996 shares of the company's stock worth $3,013,000 after buying an additional 70,493 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.