Analysts raise Life360's PT on advertising plans

Life360

03/03/2024 19:47

** Analysts raise Life360's  LIFX.PK   360.AX  price target
to include the ad revenues which the company plans to start
    ** Jefferies raises PT to A$14.30 from A$12, while
Morningstar upgrades PT for the location sharing company by 15%
to A$14
    ** "360 plans to start advertising to free users, which we
think will deliver a new, high-margin revenue stream" -
Morningstar
    ** Jefferies estimates 360's ad revenues could make a more
meaningful contribution in 2H calendar year 24 and sees ad
revenues making a $7.5 mln contribution in CY24
    ** Jefferies upgrades company's FY24-26 revenue forecast by
2-5%, adjusted EBITDA by 8-26% to incorporate ad revenues  
    ** Six of seven analysts rate stock "buy" or higher, one
"hold"; their median PT is A$14.20 - LSEG
    ** Stock up 49.5% YTD, as of last close
 

 (Reporting by Ayushman Ojha in Bengaluru. Editing by Jane
Merriman)
 ((Ayushman.ojha@thomsonreuters.com;))