Citigroup Cuts Life360 (NASDAQ:LIF) Price Target to $79.50

Life360 (NASDAQ:LIF) had its price objective reduced by Citigroup from $96.80 to $79.50 in a report issued on Friday,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other equities analysts also recently issued reports on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Life360 in a research note on Monday, December 29th. Zacks Research cut Life360 from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Stifel Nicolaus set a $92.00 price target on Life360 in a report on Tuesday, December 9th. DA Davidson started coverage on Life360 in a research note on Thursday, December 11th. They set a “buy” rating and a $94.00 price objective on the stock. Finally, Citizens Jmp lowered shares of Life360 from a “market outperform” rating to a “market perform” rating in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Life360 has a consensus rating of “Moderate Buy” and a consensus target price of $92.31.

Life360 Stock Performance

LIF opened at $65.32 on Friday. Life360 has a 1-year low of $29.62 and a 1-year high of $112.54. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 192.12 and a beta of 3.79. The company’s fifty day moving average price is $72.66 and its two-hundred day moving average price is $82.02. The company has a current ratio of 6.80, a quick ratio of 6.62 and a debt-to-equity ratio of 0.79.

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

Insiders Place Their Bets

In other Life360 news, Director Mark Goines sold 15,000 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $74.19, for a total value of $1,112,850.00. Following the completion of the transaction, the director owned 56,809 shares in the company, valued at $4,214,659.71. This represents a 20.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lauren Antonoff sold 19,442 shares of Life360 stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $76.24, for a total value of $1,482,258.08. Following the sale, the chief executive officer owned 305,385 shares in the company, valued at $23,282,552.40. The trade was a 5.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 605,092 shares of company stock valued at $46,683,301.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LIF. SBI Securities Co. Ltd. increased 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 worth $28,000 after purchasing an additional 239 shares during the last quarter. NewEdge Advisors LLC bought a new position in Life360 during the third quarter valued at $32,000. CWM LLC grew its holdings in Life360 by 71.4% during the third 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 purchased a new stake in Life360 in the third quarter worth $47,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Life360 by 1,663.3% in the third quarter. Jones Financial Companies Lllp now owns 529 shares of the company’s stock valued at $55,000 after buying an additional 499 shares during the period. 20.00% of the stock is currently owned by hedge funds and other institutional investors.

Life360 Company Profile

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.