Life360 (NASDAQ:LIF) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Key Points

• Life360's price target has been increased from $75.00 to $86.00 by Canaccord Genuity Group, indicating a potential upside of 12.78% from its previous close.
• The company reported a quarterly EPS of $0.05, surpassing the consensus estimate of (-$0.04), alongside revenue of $103.62 million during the quarter.
• Various analysts have given Life360 ratings ranging from "buy" to "hold," resulting in a consensus rating of "Moderate Buy" with an average price target of $61.33.

Life360 (NASDAQ:LIF - Free Report) had its price objective lifted by Canaccord Genuity Group from $75.00 to $86.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

LIF has been the subject of several other reports. Stifel Nicolaus reduced their price objective on Life360 from $52.00 to $48.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. UBS Group increased their price objective on Life360 from $57.00 to $71.00 and gave the company a "buy" rating in a report on Monday, June 16th. Wall Street Zen lowered shares of Life360 from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. JMP Securities raised their price target on Life360 from $55.00 to $62.00 and gave the company a "market outperform" rating in a research report on Monday, June 16th. Finally, Citigroup reissued an "outperform" rating on shares of Life360 in a research report on Monday, June 16th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Life360 has a consensus rating of "Moderate Buy" and an average target price of $71.00.

Life360 Stock Performance

Shares of NASDAQ:LIF traded down $2.19 during trading on Monday, reaching $74.40. 711,987 shares of the stock were exchanged, compared to its average volume of 652,597. Life360 has a 12-month low of $28.94 and a 12-month high of $78.32. The firm has a market cap of $5.69 billion and a price-to-earnings ratio of 826.67. The firm's 50-day moving average price is $66.16 and its 200 day moving average price is $51.13.

Life360 (NASDAQ:LIF - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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 business had revenue of $103.62 million for the quarter, compared to analyst estimates of $101.48 million. As a group, equities research analysts forecast that Life360 will post -0.17 EPS for the current year.

Insider Activity

In other Life360 news, CFO Russell John Burke sold 3,104 shares of the business's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $61.95, for a total value of $192,292.80. Following the completion of the sale, the chief financial officer directly owned 202,626 shares of the company's stock, valued at $12,552,680.70. The trade was a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Brit Morin sold 47,584 shares of the company's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $61.14, for a total transaction of $2,909,285.76. Following the completion of the sale, the director owned 26,442 shares in the company, valued at approximately $1,616,663.88. This trade represents a 64.28% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,168 shares of company stock worth $6,950,554. Corporate insiders own 8.00% of the company's stock.

Hedge Funds Weigh In On Life360

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake 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 in the last quarter. Millennium Management LLC boosted its holdings in Life360 by 9.2% during the 4th quarter. Millennium Management LLC now owns 1,114,922 shares of the company's stock valued at $46,013,000 after acquiring an additional 94,077 shares during the period. Bank of New York Mellon Corp lifted its holdings in Life360 by 320.0% during the 1st 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. Franklin Resources Inc. increased its position in shares of Life360 by 402.9% in the 4th quarter. Franklin Resources Inc. now owns 539,592 shares of the company's stock valued at $22,269,000 after purchasing an additional 432,292 shares during the last quarter. Finally, Marshall Wace LLP grew its position in shares of Life360 by 86.2% in the 4th quarter. Marshall Wace LLP now owns 411,326 shares of the company's stock valued at $16,975,000 after buying an additional 190,422 shares during the last quarter. 20.00% of the stock is owned by hedge funds and other institutional investors.

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.