Insights

Broker tips Life360 (ASX:360) share price to keep rising after hitting record high

This top broker is a big fan of Life360…
The post Broker tips Life360 (ASX:360) share price to keep rising after hitting record high appeared first on The Motley Fool Australia. –

The Life360 Inc (ASX: 360) share price is pushing higher again on Thursday.

Earlier today, the family-orientated app maker’s shares were up almost 4% to a record high of $6.93.

When the Life360 share price hit that level, it was up a remarkable 78% since the start of the year.

Why is the Life360 share price charging higher today?

There have been a couple of catalysts for the rise in the Life360 share price today.

One is an announcement earlier this week which revealed that Life360 has created a Family Advisory Council that will bring together well-known celebrities and influencers to help shape the company’s product and marketing strategy.

Management also revealed that it expects its annualised monthly revenue to land towards the upper end of its guidance of US$110 million to US$120 million in 2021. This follows a successful marketing campaign on TikTok.

What else?

Also giving the Life360 share price a boost today was a broker note out of Bell Potter.

According to the note, the broker has retained its buy rating and lifted its price target to $7.75. This implies further upside of almost 12% for its shares over the next 12 months.

It commented: “Life360 provided a market update and the key take-out in our view was a soft upgrade in the guidance for annualised monthly revenue (AMR) in December 2021 from in the range of US$110-120m to now “at the higher end” of this range.”

“The key drivers of the upgrade were “early success of user experience improvements and a recent surge in downloads driven by virality on social media, primarily TikTok”. The company also said a further update will be provided at the release of the 1H2021 result in August when “the extent, impact, and duration of the new wave of registrations will be clearer” suggesting there may be some further upside to the guidance.”

“The other key take-out from the update was a US$2.1m investment in the company by a group led by Bryant Stibel which is an investment company founded by Kobe Bryant and Jeff Stibel,” it concluded.

All in all, the LIfe360 share price may have hit a record high today, but the gains may not be over just yet.

The post Broker tips Life360 (ASX:360) share price to keep rising after hitting record high appeared first on The Motley Fool Australia.

Should you invest $1,000 in Life360 right now?

Before you consider Life360, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Life360 wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of May 24th 2021

More reading

Top ASX shares to buy in July 2021

Top brokers name 3 ASX shares to buy today

Why Life360, Paradigm, Sayona Mining, & Telstra shares are charging higher

Life360 (ASX:360) share price up 206% in last 12 months
Here are 3 ASX tech shares tipped for big things

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Life360, Inc. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!