Life360, Inc. (NASDAQ:LIF – Free Report) shares rose 10.9% on Friday after the company reported better-than-expected quarterly results. The company’s price reached $35.79 and was last at $35.59. About 34,061 shares traded hands during midday trading, a decline of 85% from the average daily volume of 226,892 shares. The stock had previously closed at $32.10.
The company reported earnings per share of -$0.09 for the quarter, beating the consensus estimate of -$0.10 by $0.01. Life360 had a negative return on equity of 9.90% and a negative net margin of 7.59%. The company had revenue of $84.86 million during the quarter, compared to analyst expectations of $85.00 million.
Wall Street analysts comment
Several analysts have commented on LIF shares. Canaccord Genuity Group upgraded Life360 to a “strong buy” rating in a report on Monday, June 17th. Stifel Nicolaus reiterated a “buy” rating and a $40.00 price target (up from $37.00) on shares of Life360 in a report on Friday. Evercore ISI upgraded Life360 to a “strong buy” rating and set a $37.00 price target on the stock in a research note on Monday, June 17th. Canaccord Genuity Group initiated coverage on Life360 in a research note on Monday, June 17th. They set a “buy” rating and a $40.00 price target on the stock. Finally, UBS Group increased their price target on Life360 from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday. One analyst has rated the stock with a “hold”, five have given a “buy” rating and two have given the company’s stock a “strong buy” rating. Based on data from MarketBeat, Life360 currently has an average rating of “buy” and an average price target of $38.88.
Check out our latest stock analysis on LIF
Institutional investors comment on Life360
Several hedge funds have recently made changes to their positions in the stock. XY Capital Ltd acquired a new stake in Life360 during the 2nd quarter valued at approximately $205,000. Emerald Mutual Fund Advisers Trust acquired a new stake in Life360 during the 2nd quarter valued at approximately $5,488,000. Emerald Advisers LLC acquired a new stake in Life360 during the 2nd quarter valued at approximately $6,777,000. Finally, Regal Partners Ltd acquired a new stake in Life360 during the 2nd quarter valued at approximately $23,635,000.
Price development of Life360 shares
About Life360
(Get free report)
Life360 Inc is a family connection and safety company. Its business category includes mobile apps and Tile tracking devices with a range of services including location sharing, safe driver reports, and crash detection with emergency calling. Life360 Inc is based in SAN FRANCISCO.
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