0014 GMT - Life360 keeps its bull at Jefferies despite analyst Wei Sim's disappointment at the tracking app developer's third-quarter hardware revenue. Hardware revenue fell short of Sim's expectations due to a delayed product launch and inventory destocking, but the issues are seen as temporary and don't have any impact on his forecasts. Sim also tells clients in a note that the longer-term outlook for advertising revenues remains strong despite a slower-than-expected ramp-up in the new initiative. Jefferies keeps a buy rating and A$27.00 target price on the stock, which is up 3.0% at A$23.06. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 13, 2024 19:15 ET (00:15 GMT)
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