Life360 price target raised to $40 from $38 at JMP Securities

JMP Securities raised the firm’s price target on Life360 to $40 from $38 and keeps an Outperform rating on the shares. Life360 reported beat-and-raise 2Q24 results as MAU, paying circles, and revenue growth all accelerated, leading the company to increase 2024 revenue and EBITDA guidance by 1% and 18%, respectively, at the midpoint, the analyst tells investors in a research note. The results emphasize the size of Life360’s global opportunity and minimal competition, JMP says, adding that operational momentum can continue.