Life360 (NASDAQ:LIF) Reaches New 52-Week High – Should You Buy?

by · The Markets Daily

Life360, Inc. (NASDAQ:LIF – Get Free Report)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $43.43 and last traded at $43.33, with a volume of 36962 shares. The stock had previously closed at $42.73.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Canaccord Genuity Group upgraded shares of Life360 to a “strong-buy” rating in a research report on Monday, June 17th. Loop Capital lifted their price target on Life360 from $36.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Jefferies Financial Group initiated coverage on Life360 in a report on Friday, August 9th. They issued a “buy” rating and a $43.00 price objective for the company. UBS Group lifted their target price on Life360 from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $40.00 price target (up previously from $37.00) on shares of Life360 in a research note on Friday, August 9th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $39.75.

Get Our Latest Stock Report on LIF

Life360 Price Performance

The firm’s fifty day simple moving average is $37.21.

Life360 (NASDAQ:LIF – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The business had revenue of $84.86 million during the quarter, compared to analyst estimates of $85.00 million. Life360 had a negative return on equity of 9.81% and a negative net margin of 9.26%. On average, sell-side analysts predict that Life360, Inc. will post -0.29 earnings per share for the current fiscal year.

Insider Activity

In other news, Director James Synge sold 33,617 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $37.04, for a total value of $1,245,173.68. Following the completion of the sale, the director now owns 291,944 shares of the company’s stock, valued at $10,813,605.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Life360 news, Director Charles J. Prober sold 40,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $32.45, for a total value of $1,298,000.00. Following the transaction, the director now directly owns 106,742 shares of the company’s stock, valued at $3,463,777.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James Synge sold 33,617 shares of Life360 stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $37.04, for a total value of $1,245,173.68. Following the sale, the director now owns 291,944 shares of the company’s stock, valued at approximately $10,813,605.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,088 shares of company stock worth $2,672,781 over the last 90 days.

Hedge Funds Weigh In On Life360

Hedge funds have recently added to or reduced their stakes in the company. Regal Partners Ltd bought a new stake in Life360 in the second quarter worth approximately $23,635,000. Millennium Management LLC acquired a new stake in shares of Life360 in the 2nd quarter valued at $11,861,000. Ghisallo Capital Management LLC bought a new stake in Life360 in the second quarter worth $8,098,000. Emerald Advisers LLC bought a new stake in Life360 in the second quarter worth $6,777,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in Life360 during the second quarter worth $5,488,000.

About Life360

(Get Free Report)

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.

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