Stifel Nicolaus Issues Positive Forecast for Life360 (NASDAQ:LIF) Stock Price

Key Points

• Stifel Nicolaus has raised its price target for Life360 (NASDAQ:LIF) from $48.00 to $87.00, indicating a potential upside of 13.29% from the stock's previous close.
• Life360 posted earnings of $0.05 per share, surpassing expectations and reporting $103.62 million in revenue for the quarter, beating analyst forecasts.
• A number of brokerages, including Loop Capital and UBS Group, have recently issued buy ratings on Life360, with the average consensus target price now at $67.83.

Life360 (NASDAQ:LIF - Get Free Report) had its target price boosted by analysts at Stifel Nicolaus from $48.00 to $87.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Stifel Nicolaus' price objective suggests a potential upside of 13.87% from the stock's current price.

Several other analysts also recently issued reports on LIF. Canaccord Genuity Group lifted their price target on Life360 from $75.00 to $86.00 and gave the company a "buy" rating in a research note on Monday. Wall Street Zen downgraded Life360 from a "buy" rating to a "hold" rating in a research note on Saturday. Citigroup reissued an "outperform" rating on shares of Life360 in a research note on Monday, June 16th. UBS Group lifted their price target on Life360 from $57.00 to $71.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Finally, Loop Capital lifted their price target on Life360 from $52.00 to $58.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $67.83.

Life360 Stock Performance

Shares of LIF stock traded up $0.50 on Tuesday, reaching $76.40. 625,471 shares of the company's stock traded hands, compared to its average volume of 667,995. The business's 50 day moving average price is $65.84 and its two-hundred day moving average price is $50.88. Life360 has a 12-month low of $28.94 and a 12-month high of $78.32. The company has a market capitalization of $5.85 billion and a P/E ratio of 848.89.

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. 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 analysts' expectations of $101.48 million. Research analysts predict that Life360 will post -0.17 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Charles J. Prober sold 7,942 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $61.63, for a total value of $489,465.46. Following the completion of the transaction, the director owned 105,456 shares in the company, valued at $6,499,253.28. This trade represents a 7.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Lauren Antonoff sold 4,546 shares of the firm's stock in a transaction dated 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 owned 312,324 shares of the company's stock, valued at $19,520,250. The trade was a 1.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,293 shares of company stock worth $7,085,866 over the last 90 days. 8.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Life360

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Life360 by 3,865.6% during the first quarter. Vanguard Group Inc. now owns 5,683,626 shares of the company's stock worth $218,194,000 after purchasing an additional 5,540,302 shares during the period. Millennium Management LLC boosted its holdings in shares of Life360 by 9.2% during the fourth quarter. Millennium Management LLC now owns 1,114,922 shares of the company's stock worth $46,013,000 after acquiring an additional 94,077 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Life360 by 320.0% during the first quarter. Bank of New York Mellon Corp now owns 549,272 shares of the company's stock worth $21,087,000 after acquiring an additional 418,493 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Life360 by 402.9% during the fourth quarter. Franklin Resources Inc. now owns 539,592 shares of the company's stock worth $22,269,000 after acquiring an additional 432,292 shares during the period. Finally, Marshall Wace LLP boosted its holdings in shares of Life360 by 86.2% during the fourth quarter. Marshall Wace LLP now owns 411,326 shares of the company's stock worth $16,975,000 after acquiring an additional 190,422 shares during the period. Institutional investors 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.