Life360 Inc. (NASDAQ:LIF) is one of the 10 technology stocks offering more than 50% upside.
On May 17, Life360 Inc. (NASDAQ:LIF) announced that its Board of Directors had approved a long-term share repurchase plan totaling up to $225 million
The program is meant to benefit the shareholders as it is geared towards reducing the amount of dilution created by the stock-based compensation. This reflects favorably on the company’s robust financial position and the fact that the company has been generating positive operating cash flows for twelve consecutive quarters. Copyright: dolgachov / 123RF Stock Photo According to the CEO, Lauren Antonoff, even as the company continues to work towards increasing its membership worldwide, the repurchase program is meant to underscore the strength of its business, the effective use of its funds, and its cash generation capacity.
The management has been given the authority to repurchase shares of Life360’s common stock in the United States through open market purchases, block trades, or otherwise, based on the existing market conditions. On May 12, UBS analyst Stephen Ju reduced the target price for Life360 Inc. (NASDAQ:LIF) from $75 to $64 while maintaining a Buy rating on the shares. Despite this downward adjustment to the price target, the stock still offers an attractive upside potential of more than 50%.