Canaccord Genuity Group Reaffirms Buy Rating for Life360 (NASDAQ:LIF)

Life360 (NASDAQ:LIF)‘s stock had its “buy” rating reaffirmed by stock analysts at Canaccord Genuity Group in a report released on Tuesday,Benzinga reports. They presently have a $115.00 target price on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 90.30% from the stock’s previous close.

A number of other analysts have also recently commented on the company. DA Davidson assumed coverage on Life360 in a research report on Thursday, December 11th. They issued a “buy” rating and a $94.00 price target on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Life360 in a research note on Monday, December 8th. Zacks Research lowered Life360 from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Citigroup reiterated a “market outperform” rating on shares of Life360 in a research note on Tuesday, November 11th. Finally, UBS Group cut their price objective on shares of Life360 from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $93.63.

Life360 Stock Performance

Life360 stock opened at $60.43 on Tuesday. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 177.74 and a beta of 3.60. The stock’s 50 day simple moving average is $83.16 and its two-hundred day simple moving average is $81.58. Life360 has a fifty-two week low of $29.62 and a fifty-two week high of $112.54. The company has a debt-to-equity ratio of 0.79, a quick ratio of 6.62 and a current ratio of 6.80.

Life360 (NASDAQ:LIF) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.03 by $0.08. The business had revenue of $124.50 million during the quarter, compared to analyst estimates of $119.26 million. Life360 had a return on equity of 7.95% and a net margin of 6.46%. As a group, analysts expect that Life360 will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Alex Haro sold 100,000 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $76.45, for a total transaction of $7,645,000.00. Following the transaction, the director owned 861,315 shares in the company, valued at $65,847,531.75. This represents a 10.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles J. Prober sold 7,930 shares of Life360 stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $68.30, for a total transaction of $541,619.00. Following the completion of the sale, the director directly owned 105,456 shares of the company’s stock, valued at approximately $7,202,644.80. This trade represents a 6.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 609,869 shares of company stock worth $47,470,759 in the last three months. 8.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Life360

Hedge funds have recently modified their holdings of the business. SBI Securities Co. Ltd. grew its stake in shares of Life360 by 824.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 268 shares of the company’s stock valued at $28,000 after acquiring an additional 239 shares during the period. NewEdge Advisors LLC bought a new position in shares of Life360 in the third quarter worth approximately $32,000. CWM LLC raised its position in shares of Life360 by 71.4% during the 3rd quarter. CWM LLC now owns 384 shares of the company’s stock valued at $41,000 after purchasing an additional 160 shares during the period. IFP Advisors Inc bought a new stake in shares of Life360 during the 3rd quarter valued at $47,000. Finally, Jones Financial Companies Lllp boosted its holdings in Life360 by 1,663.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 529 shares of the company’s stock worth $55,000 after buying an additional 499 shares during the period. Institutional investors own 20.00% of the company’s stock.

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.