Life360 (NASDAQ:LIF) Coverage Initiated by Analysts at Citigroup

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.

Research analysts at Citigroup began coverage on shares of Life360 (NASDAQ:LIF - Get Free Report) in a research note issued on Thursday, Marketbeat.com reports. The brokerage set a "buy" rating and a $90.00 price target on the stock. Citigroup's price target suggests a potential upside of 16.91% from the stock's previous close.

Other equities research analysts have also recently issued reports about the company. Loop Capital boosted 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. Stifel Nicolaus boosted their target price on Life360 from $48.00 to $87.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Canaccord Genuity Group boosted their target price on Life360 from $75.00 to $86.00 and gave the company a "buy" rating in a research report on Monday, July 28th. UBS Group boosted their price target on Life360 from $57.00 to $71.00 and gave the company a "buy" rating in a report on Monday, June 16th. Finally, JMP Securities boosted their price target on Life360 from $55.00 to $62.00 and gave the company a "market outperform" rating in a report on Monday, June 16th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Life360 presently has an average rating of "Moderate Buy" and an average price target of $71.00.

Life360 Price Performance

Shares of Life360 stock traded up $2.58 during trading on Thursday, reaching $76.98. 474,541 shares of the stock traded hands, compared to its average volume of 651,378. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 855.33 and a beta of 3.46. The business has a fifty day simple moving average of $66.42 and a two-hundred day simple moving average of $51.52. Life360 has a 52-week low of $28.94 and a 52-week high of $78.32.

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

Insider Buying and Selling at Life360

In related news, Director John Philip Coghlan sold 3,125 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $61.03, for a total value of $190,718.75. Following the transaction, the director directly owned 29,778 shares of the company's stock, valued at $1,817,351.34. This represents a 9.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Lauren Antonoff sold 4,546 shares of the company's stock in a transaction 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 completion of the transaction, the chief operating officer directly owned 312,324 shares in the company, valued at approximately $19,520,250. The trade was a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,168 shares of company stock valued at $6,950,554.

Institutional Trading of Life360

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Keystone Financial Group Inc. purchased a new stake in shares of Life360 during the 2nd quarter worth $62,000. Summit Investment Advisors Inc. lifted its position in shares of Life360 by 82.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the company's stock worth $44,000 after purchasing an additional 484 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Life360 by 2,938.9% during the 1st quarter. GAMMA Investing LLC now owns 2,188 shares of the company's stock worth $84,000 after purchasing an additional 2,116 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Life360 by 937.4% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,189 shares of the company's stock worth $84,000 after purchasing an additional 1,978 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Life360 by 433.3% during the 1st quarter. New York State Common Retirement Fund now owns 3,200 shares of the company's stock worth $123,000 after purchasing an additional 2,600 shares during the last quarter. Institutional investors and hedge funds own 20.00% of the company's stock.

About Life360

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.