Life360 (NASDAQ:LIF) Price Target Raised to $62.00

Life360 (NASDAQ:LIF - Get Free Report) had its target price hoisted by investment analysts at JMP Securities from $55.00 to $62.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. JMP Securities' target price indicates a potential downside of 1.07% from the stock's previous close.

Other equities research analysts have also issued research reports about the stock. Loop Capital increased their price objective on shares of Life360 from $52.00 to $58.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Stifel Nicolaus reduced their target price on shares of Life360 from $52.00 to $48.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. UBS Group increased their target price on shares of Life360 from $55.00 to $57.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Finally, Canaccord Genuity Group increased their target price on shares of Life360 from $58.00 to $70.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $58.67.

Life360 Stock Performance

NASDAQ:LIF traded up $0.45 on Monday, hitting $62.67. The stock had a trading volume of 524,613 shares, compared to its average volume of 457,864. The stock has a market cap of $4.80 billion and a P/E ratio of 696.33. Life360 has a 1 year low of $28.94 and a 1 year high of $65.79. The firm's fifty day simple moving average is $52.10 and its two-hundred day simple moving average is $45.93.

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

Insider Activity

In related news, CFO Russell John Burke sold 3,030 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $64.13, for a total value of $194,313.90. Following the completion of the transaction, the chief financial officer now directly owns 195,730 shares of the company's stock, valued at approximately $12,552,164.90. This trade represents a 1.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brit Morin sold 47,584 shares of the firm's stock in a transaction that occurred on 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 transaction, the director now directly owns 26,442 shares of the company's stock, valued at approximately $1,616,663.88. This trade represents a 64.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 102,485 shares of company stock valued at $5,563,017 in the last three months. Company insiders own 8.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. New York State Common Retirement Fund bought a new position in Life360 in the 4th quarter worth approximately $25,000. Summit Investment Advisors Inc. boosted its holdings in Life360 by 82.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the company's stock worth $44,000 after buying an additional 484 shares during the period. GAMMA Investing LLC boosted its holdings in Life360 by 2,938.9% in the 1st quarter. GAMMA Investing LLC now owns 2,188 shares of the company's stock worth $84,000 after buying an additional 2,116 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in Life360 by 937.4% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,189 shares of the company's stock worth $84,000 after buying an additional 1,978 shares during the period. Finally, Strs Ohio bought a new position in Life360 in the 1st quarter worth approximately $157,000. 20.00% of the stock is owned by 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.