Life360, Inc. (NASDAQ:LIF) Receives $58.67 Consensus PT from Brokerages

Shares of Life360, Inc. (NASDAQ:LIF) have earned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $59.50.

A number of brokerages recently commented on LIF. Citigroup reaffirmed an “outperform” rating on shares of Life360 in a research report on Monday, June 16th. Stifel Nicolaus lowered their target price on Life360 from $52.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Canaccord Genuity Group set a $75.00 price target on shares of Life360 and gave the stock a “buy” rating in a report on Wednesday. Loop Capital raised their price objective on shares of Life360 from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, May 13th. Finally, UBS Group boosted their target price on shares of Life360 from $57.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, June 16th.

Life360 Stock Performance

Shares of LIF opened at $63.92 on Monday. The firm has a market capitalization of $4.89 billion and a P/E ratio of 710.22. Life360 has a 52 week low of $28.94 and a 52 week high of $67.11. The stock has a 50 day moving average price of $57.30 and a two-hundred day moving average price of $46.98.

Life360 (NASDAQ:LIF) last released its quarterly earnings results on Monday, May 12th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.09. The business had revenue of $103.62 million for the quarter, compared to analysts’ expectations of $101.48 million. Life360 had a net margin of 2.42% and a return on equity of 4.05%. On average, equities analysts forecast that Life360 will post -0.17 earnings per share for the current year.

Insider Activity

In related news, General Counsel Susan L. Stick sold 500 shares of the stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $62.33, for a total transaction of $31,165.00. Following the sale, the general counsel owned 106,422 shares of the company’s stock, valued at approximately $6,633,283.26. This represents a 0.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brit Morin sold 448 shares of the company’s stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $63.23, for a total value of $28,327.04. Following the sale, the director owned 25,994 shares in the company, valued at approximately $1,643,600.62. This represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,308 shares of company stock valued at $5,451,594. 8.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Rhumbline Advisers increased its stake in Life360 by 83.6% in the fourth quarter. Rhumbline Advisers now owns 12,651 shares of the company’s stock valued at $522,000 after acquiring an additional 5,762 shares during the last quarter. New York State Common Retirement Fund purchased a new position in shares of Life360 in the 4th quarter worth about $25,000. Bank of New York Mellon Corp increased its position in shares of Life360 by 1,007.8% during the 4th quarter. Bank of New York Mellon Corp now owns 130,779 shares of the company’s stock valued at $5,397,000 after purchasing an additional 118,974 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Life360 by 203.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 42,186 shares of the company’s stock valued at $1,741,000 after purchasing an additional 28,279 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new position in shares of Life360 during the 4th quarter valued at about $334,000. 20.00% of the stock is currently owned by hedge funds and other 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.