Canaccord Genuity Group Increases Life360 (NASDAQ:LIF) Price Target to $70.00

Life360 (NASDAQ:LIF) had its price target hoisted by equities researchers at Canaccord Genuity Group from $58.00 to $70.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 15.95% from the company’s previous close.

LIF has been the topic of several other research reports. Stifel Nicolaus lowered their price target on shares of Life360 from $52.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. UBS Group lifted their target price on shares of Life360 from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Finally, Loop Capital increased their price target on Life360 from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $51.00.

Life360 Stock Performance

Shares of Life360 stock opened at $60.37 on Tuesday. The stock has a market cap of $4.62 billion and a P/E ratio of 670.78. The stock’s fifty day moving average is $41.26 and its 200 day moving average is $43.25. Life360 has a one year low of $26.00 and a one year high of $62.64.

Life360 (NASDAQ:LIF) last posted its quarterly earnings data 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 negative return on equity of 4.03% and a negative net margin of 4.72%. The firm had revenue of $103.62 million for the quarter, compared to the consensus estimate of $101.48 million. Analysts predict that Life360 will post -0.17 EPS for the current year.

Insider Buying and Selling at Life360

In other Life360 news, Director Charles J. Prober sold 50,000 shares of Life360 stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $41.52, for a total value of $2,076,000.00. Following the sale, the director now owns 102,742 shares of the company’s stock, valued at $4,265,847.84. The trade was a 32.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John Philip Coghlan sold 3,125 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $43.30, for a total value of $135,312.50. Following the sale, the director now directly owns 32,903 shares in the company, valued at $1,424,699.90. This trade represents a 8.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 173,881 shares of company stock worth $7,220,851. Insiders own 8.00% of the company’s stock.

Hedge Funds Weigh In On Life360

Several institutional investors have recently bought and sold shares of LIF. New York State Common Retirement Fund bought a new stake in shares of Life360 in the 4th quarter worth about $25,000. Summit Investment Advisors Inc. increased its stake in Life360 by 82.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the company’s stock worth $44,000 after acquiring an additional 484 shares during the last quarter. GAMMA Investing LLC raised its position in Life360 by 2,938.9% during the first quarter. GAMMA Investing LLC now owns 2,188 shares of the company’s stock valued at $84,000 after purchasing an additional 2,116 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of Life360 by 937.4% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,189 shares of the company’s stock valued at $84,000 after purchasing an additional 1,978 shares during the last quarter. Finally, KBC Group NV purchased a new position in shares of Life360 in the 4th quarter worth approximately $147,000. Institutional investors own 20.00% of the company’s stock.

Life360 Company Profile

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.