2323 GMT - Location app developer Life360's expansion into pet tracking could lift user numbers by 9% and increase paid subscriptions by even more, Jefferies analyst Wei Sim says. Citing the findings of a Jefferies survey of more than 1,000 people in the U.S., he reckons that pet tracking could drive a 22% increase in paid subscriptions. The survey also suggests that introduction of advertising could reduce monthly active users by 0.9%, but increase paid subscriptions by 1.1% as users seek to avoid ads. Sim tells clients in a note that both ventures are value accretive, and likely to contribute more meaningfully from 2026. Jefferies lifts its target price 11% to A$30.00 and keeps a buy rating on the stock, which is down 1.2% at A$23.10. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 06, 2025 18:23 ET (23:23 GMT)
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