Life360 initiated with a Buy at Loop Capital

Loop Capital analyst Rob Sanderson initiated coverage of Life360 with a Buy rating and $36 price target. The company offers a leading location sharing platform that is focused on providing safety and security to families, and the community has grown to become the #5 most-used social app by daily active users largely by viral adoption, the analyst tells investors in a research note. About 13% of Life360’s current users are now in paid tiers, and the company is positioned for meaningful monetization expansion in the next few years amid deeper penetration of paid offerings, new services enabled by hardware, introduction of advertising to its non-paid audience, and indirect monetization opportunities, the firm added.