Life360 (NASDAQ:LIF) Price Target Cut to $60.10 by Analysts at Citigroup

Life360 (NASDAQ:LIF) had its target price dropped by Citigroup from $66.65 to $60.10 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 19.53% from the company’s current price.

A number of other research firms have also recently commented on LIF. Morgan Stanley set a $65.20 price target on Life360 in a report on Wednesday. Canaccord Genuity Group set a $72.00 target price on Life360 in a research report on Tuesday, May 12th. Macquarie Infrastructure began coverage on shares of Life360 in a report on Tuesday, April 28th. They issued an “outperform” rating and a $32.20 target price for the company. Evercore set a $68.00 price target on shares of Life360 in a report on Tuesday, May 12th. Finally, DA Davidson upped their price target on shares of Life360 from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.72.

Life360 Price Performance

NASDAQ:LIF traded up $1.13 during mid-day trading on Thursday, reaching $50.28. The stock had a trading volume of 1,132,257 shares, compared to its average volume of 1,052,066. The stock has a 50-day simple moving average of $52.85 and a two-hundred day simple moving average of $48.37. The stock has a market capitalization of $4.07 billion, a PE ratio of 29.27 and a beta of 2.35. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.37 and a quick ratio of 5.23. Life360 has a 12 month low of $37.01 and a 12 month high of $112.54.

Life360 (NASDAQ:LIF) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.02). The firm had revenue of $158.96 million for the quarter, compared to analyst estimates of $156.68 million. Life360 had a net margin of 25.73% and a return on equity of 5.93%. On average, equities analysts anticipate that Life360 will post 0.42 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Chris Hulls sold 27,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $63.34, for a total transaction of $1,710,180.00. Following the transaction, the director owned 419,554 shares in the company, valued at $26,574,550.36. The trade was a 6.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles J. Prober sold 7,930 shares of Life360 stock in a transaction on Monday, June 15th. The shares were sold at an average price of $46.07, for a total transaction of $365,335.10. Following the completion of the sale, the director directly owned 109,911 shares of the company’s stock, valued at approximately $5,063,599.77. This trade represents a 6.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 94,707 shares of company stock worth $5,008,946 in the last quarter. 6.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LIF. NewEdge Advisors LLC bought a new stake in shares of Life360 during the third quarter worth about $32,000. Strive Financial Group LLC purchased a new stake in shares of Life360 in the fourth quarter worth approximately $26,000. IFP Advisors Inc bought a new position in shares of Life360 in the third quarter valued at approximately $47,000. MCF Advisors LLC purchased a new position in shares of Life360 during the fourth quarter valued at approximately $32,000. Finally, Advisory Services Network LLC bought a new stake in Life360 during the third quarter worth $80,000. 20.00% of the stock is owned by institutional investors and hedge funds.

About Life360

Life360, Inc (NASDAQ: LIF) operates a location-based safety and communication platform designed to help families stay connected and secure. Through its flagship mobile application, Life360 offers real-time location sharing, check-in alerts and geofencing tools that enable users to monitor the whereabouts of family members or other trusted circles. The company’s services extend to emergency response features, including SOS alerts, 24/7 roadside assistance and crash detection capabilities powered by machine-learning algorithms, all aimed at enhancing user safety on the road and at home.

The Life360 platform is offered under a freemium model, with a basic no-cost tier providing essential location sharing and alerts.