Life360, Inc. (NASDAQ:LIF) Stock Has Consensus Target Price of $59.94 According to Brokerages

Shares of Life360, Inc. (NASDAQ:LIF) have earned a consensus rating of “Moderate Buy” from the eleven brokerages that are presently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $59.94.

LIF has been the subject of a number of recent research reports. Morgan Stanley set a $65.20 target price on Life360 in a report on Wednesday, August 12th. DA Davidson reissued a “neutral” rating and set a $40.00 target price on shares of Life360 in a research report on Tuesday, September 29th. Bank of America increased their price target on Life360 from $60.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, July 16th. UBS Group lowered their price target on Life360 from $64.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Finally, Citigroup lowered their price target on Life360 from $66.65 to $60.10 and set a “buy” rating for the company in a research report on Thursday, August 13th.

Life360 Stock Performance

Life360 stock opened at $43.37 on Friday. The company’s 50-day moving average price is $43.09 and its 200-day moving average price is $46.33. The company has a quick ratio of 5.46, a current ratio of 5.60 and a debt-to-equity ratio of 0.51. The company has a market cap of $3.53 billion, a PE ratio of 25.36 and a beta of 2.27. Life360 has a twelve month low of $37.01 and a twelve month high of $100.18.

Life360 (NASDAQ:LIF) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The business had revenue of $158.96 million during the quarter, compared to the consensus estimate of $156.68 million. Life360 had a net margin of 25.73% and a return on equity of 5.66%. On average, equities research analysts forecast that Life360 will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling at Life360

In other news, Director Alex Haro sold 50,000 shares of the stock in a transaction on Monday, September 21st. The shares were sold at an average price of $40.88, for a total value of $2,044,000.00. Following the sale, the director owned 1,010,303 shares of the company’s stock, valued at approximately $41,301,186.64. This represents a 4.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Chris Hulls sold 250,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $46.84, for a total transaction of $11,710,000.00. Following the completion of the sale, the director directly owned 382,056 shares in the company, valued at approximately $17,895,503.04. This represents a 39.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 456,790 shares of company stock valued at $21,269,295. Insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Life360

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Life360 by 44.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,861 shares of the company’s stock valued at $103,000 after acquiring an additional 569 shares during the last quarter. Handelsbanken Fonder AB increased its stake in Life360 by 2.4% in the second quarter. Handelsbanken Fonder AB now owns 25,300 shares of the company’s stock worth $1,401,000 after purchasing an additional 600 shares during the period. Royal Bank of Canada increased its stake in Life360 by 85.5% in the first quarter. Royal Bank of Canada now owns 2,059 shares of the company’s stock worth $84,000 after purchasing an additional 949 shares during the period. Illinois Municipal Retirement Fund lifted its position in shares of Life360 by 13.2% during the first quarter. Illinois Municipal Retirement Fund now owns 11,326 shares of the company’s stock worth $462,000 after purchasing an additional 1,323 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in shares of Life360 by 13.8% during the first quarter. Pictet Asset Management Holding SA now owns 13,126 shares of the company’s stock worth $536,000 after purchasing an additional 1,596 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 technology company that develops connected safety and security products for families, individuals and pets. Its primary offering is the Life360 mobile application, which provides location sharing, family communication, driving safety tools, emergency assistance and other features intended to help users coordinate and stay connected.

The company also offers services such as crash detection, roadside assistance, SOS support and digital safety features. Through its ownership of Tile, Life360 provides Bluetooth-enabled finding devices and related tracking services for personal belongings.