Canaccord Genuity Group Forecasts Strong Price Appreciation for Life360 (NASDAQ:LIF) Stock

Life360 (NASDAQ:LIF) had its price objective upped by Canaccord Genuity Group from $54.00 to $58.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 10.52% from the stock’s current price.

A number of other analysts also recently issued reports on LIF. UBS Group increased their target price on shares of Life360 from $35.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. JMP Securities increased their target price on shares of Life360 from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 14th. Stifel Nicolaus increased their target price on shares of Life360 from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Jefferies Financial Group initiated coverage on shares of Life360 in a research report on Friday, August 9th. They set a “buy” rating and a $43.00 target price for the company. Finally, Loop Capital increased their target price on shares of Life360 from $36.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $47.00.

Life360 Stock Performance

Shares of LIF stock opened at $52.48 on Monday. The business’s 50-day moving average is $43.58. Life360 has a 1-year low of $26.00 and a 1-year high of $52.76.

Insider Transactions at Life360

In related news, Director Mark Goines sold 50,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $40.70, for a total transaction of $2,035,000.00. Following the transaction, the director now directly owns 76,272 shares in the company, valued at $3,104,270.40. This trade represents a 39.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Chris Hulls sold 556,569 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $41.02, for a total value of $22,830,460.38. Following the transaction, the chief executive officer now owns 952,696 shares in the company, valued at $39,079,589.92. This trade represents a 36.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 703,657 shares of company stock valued at $28,392,141.

Hedge Funds Weigh In On Life360

Several large investors have recently added to or reduced their stakes in LIF. Regal Partners Ltd bought a new position in Life360 during the second quarter worth $23,635,000. XY Capital Ltd bought a new stake in Life360 in the second quarter valued at $205,000. Emerald Mutual Fund Advisers Trust bought a new stake in Life360 in the second quarter valued at $5,488,000. Emerald Advisers LLC bought a new stake in Life360 in the second quarter valued at $6,777,000. Finally, Point72 DIFC Ltd bought a new stake in Life360 in the second quarter valued at $43,000.

Life360 Company Profile

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.