Life360 price target raised to $43 from $36 at Loop Capital

Loop Capital raised the firm’s price target on Life360 to $43 from $36 and keeps a Buy rating on the shares. Growth in monthly active users of 31% year over year was well above its 5-year user growth compound annual growth rate of 24% despite higher levels of penetration, and Loop was especially impressed by user acquisition efficiency, with a 35% y/y decline in paid acquisition and TV marketing expenses, the analyst tells investors in a research note. The firm thinks the company is well on its way to achieving management’s aspirational goal of 150M MAUs, $1B in annual revenue and 25% EBITDA margin, which Life360 could achieve by 2029.