Citigroup Cuts Life360 (NASDAQ:LIF) Price Target to $60.10

Life360 (NASDAQ:LIF) had its price objective lowered by Citigroup from $66.65 to $60.10 in a research note published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also recently commented on LIF. Morgan Stanley set a $65.20 target price on shares of Life360 in a report on Wednesday. Bank of America raised their price objective on Life360 from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. UBS Group decreased their price objective on Life360 from $64.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday. Macquarie Infrastructure began coverage on Life360 in a research report on Tuesday, April 28th. They set an “outperform” rating and a $32.20 target price on the stock. Finally, DA Davidson lifted their target price on Life360 from $42.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.72.

Life360 Price Performance

LIF stock opened at $51.21 on Thursday. The firm has a market capitalization of $4.17 billion, a P/E ratio of 29.95 and a beta of 2.35. Life360 has a 12 month low of $37.01 and a 12 month high of $112.54. The firm has a 50 day moving average of $53.01 and a 200-day moving average of $48.27. The company has a current ratio of 5.60, a quick ratio of 5.23 and a debt-to-equity ratio of 0.51.

Life360 (NASDAQ:LIF) last released its quarterly earnings results on Monday, August 10th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). Life360 had a net margin of 25.73% and a return on equity of 5.66%. The firm had revenue of $158.96 million for the quarter, compared to analysts’ expectations of $156.68 million. As a group, sell-side analysts predict that Life360 will post 0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Life360 news, Director John Philip Coghlan sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $54.82, for a total value of $219,280.00. Following the completion of the sale, the director owned 20,431 shares of the company’s stock, valued at approximately $1,120,027.42. This trade represents a 16.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brit Morin sold 10,701 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $60.00, for a total value of $642,060.00. Following the sale, the director owned 20,157 shares in the company, valued at $1,209,420. The trade was a 34.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 94,707 shares of company stock valued at $5,008,946. 6.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Life360

Several institutional investors and hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC acquired a new position in shares of Life360 in the 3rd quarter valued at $32,000. Strive Financial Group LLC purchased a new position in Life360 in the 4th quarter worth $26,000. IFP Advisors Inc acquired a new stake in Life360 during the 3rd quarter worth about $47,000. MCF Advisors LLC acquired a new stake in Life360 during the 4th quarter worth about $32,000. Finally, Advisory Services Network LLC purchased a new stake in Life360 during the 3rd quarter valued at about $80,000. 20.00% of the stock is currently 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.