Life360 (NASDAQ:LIF) Price Target Raised to $42.00

Key Points

• DA Davidson raised its price target on Life360 from $40 to $42 while keeping a neutral rating, which still implies downside from the stock’s current price.
• Other analysts remain mixed on the stock: some firms maintain bullish targets as high as $72, while others have recently downgraded Life360, leaving the consensus at Moderate Buy with a $64.17 target.
• Life360 shares rose 1.3% to $49.66, and the company shows solid liquidity metrics, but insiders have recently sold shares and the stock remains volatile with a beta of 2.63.

Life360 (NASDAQ:LIF - Get Free Report) had its target price lifted by equities research analysts at DA Davidson from $40.00 to $42.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. DA Davidson's target price indicates a potential downside of 15.42% from the company's current price.

Several other equities analysts have also commented on the company. Canaccord Genuity Group set a $72.00 price target on Life360 in a research report on Tuesday, May 12th. UBS Group dropped their price objective on shares of Life360 from $75.00 to $64.00 and set a "buy" rating on the stock in a research note on Tuesday, May 12th. Weiss Ratings cut shares of Life360 from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, May 12th. Wall Street Zen downgraded shares of Life360 from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Finally, Bank of America began coverage on shares of Life360 in a report on Wednesday, April 22nd. They set a "buy" rating and a $60.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $64.17.

Life360 Stock Up 1.3%

Shares of NASDAQ LIF traded up $0.64 on Monday, hitting $49.66. The company had a trading volume of 148,909 shares, compared to its average volume of 1,119,177. Life360 has a 12-month low of $37.01 and a 12-month high of $112.54. The business has a 50 day moving average of $43.76 and a two-hundred day moving average of $51.16. The company has a quick ratio of 5.23, a current ratio of 5.37 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $4.02 billion, a P/E ratio of 28.64 and a beta of 2.63.

Insiders Place Their Bets

In other news, CEO Lauren Antonoff sold 2,716 shares of the stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $45.23, for a total transaction of $122,844.68. Following the completion of the transaction, the chief executive officer directly owned 309,781 shares in the company, valued at approximately $14,011,394.63. This represents a 0.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Charles J. Prober sold 7,930 shares of the firm's stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $37.27, for a total transaction of $295,551.10. Following the sale, the director directly owned 105,456 shares of the company's stock, valued at $3,930,345.12. The trade was a 6.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 63,060 shares of company stock valued at $2,695,278. Corporate insiders own 6.80% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Life360 by 18.0% during the third quarter. Vanguard Group Inc. now owns 8,271,920 shares of the company's stock worth $879,305,000 after purchasing an additional 1,260,236 shares during the last quarter. Geode Capital Management LLC raised its stake in Life360 by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 1,153,096 shares of the company's stock valued at $74,372,000 after buying an additional 85,857 shares in the last quarter. State Street Corp lifted its holdings in Life360 by 17.3% during the 4th quarter. State Street Corp now owns 905,153 shares of the company's stock worth $58,057,000 after buying an additional 133,722 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Life360 by 86.3% during the 3rd quarter. Franklin Resources Inc. now owns 760,122 shares of the company's stock worth $80,801,000 after buying an additional 352,110 shares during the last quarter. Finally, Citigroup Inc. grew its position in shares of Life360 by 158.4% in the 3rd quarter. Citigroup Inc. now owns 749,569 shares of the company's stock worth $79,679,000 after acquiring an additional 459,463 shares in the last quarter. 20.00% of the stock is owned by institutional investors and hedge funds.

About Life360

Life360, Inc NASDAQ: LIF operates a location-based safety and communication platform designed to help families stay connected and secure. Through its flagship mobile application, Life360 offers real-time location sharing, check-in alerts and geofencing tools that enable users to monitor the whereabouts of family members or other trusted circles. The company's services extend to emergency response features, including SOS alerts, 24/7 roadside assistance and crash detection capabilities powered by machine-learning algorithms, all aimed at enhancing user safety on the road and at home.

The Life360 platform is offered under a freemium model, with a basic no-cost tier providing essential location sharing and alerts.

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