Life360 gains after Morgan Stanley raises PT on strong subscribers growth

Life360

13/05/2024 07:05

** Shares of ASX-listed Life360  360.AX  rise as much as
3.9% to A$15.7
    ** Morgan Stanley raises PT by 6% to A$17.50 for the
California-based IT firm, citing ongoing momentum in users and
subscriber growth
    ** Analysts at MS say, 100,000 net adds/qtr of subscribers
"seems very achievable", which appeared an overly optimistic
ambition in early March
    ** Brokerage raises FY24 sales guidance towards the top end
of its previous $365-375 million range outlook
    ** All of 7 analysts covering the stock rate Life360 "buy"
or higher; their median PT is A$16.05 - LSEG
    ** Stock has nearly doubled this year, as of last close 
 

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