The Life360 share price has rocketed 69% in a month. Is it too late to buy?

a couple look dumbfounded with exaggerated looks of surpirse on their faces as te mman holds a phone in his hand.a couple look dumbfounded with exaggerated looks of surpirse on their faces as te mman holds a phone in his hand.

The Life360 Inc (ASX: 360) share price finished the session on Wednesday up 8.44% to $4.24.

This means over the past month, the ASX technology share has increased in value by nearly 69%.

Life360 is the company behind the Life360 app, which is the leading real-time location-sharing app used by families worldwide. At last count, it had more than 30 million active monthly users.

Has this share price boost made it too late to buy Life360?

As my Fool colleague James wrote this week, broker Bell Potter is positive on Life360.

Bell Potter has a price target of $7.50 on Life360 shares. So, if we take this broker’s word as gospel, then nope, it’s not too late to buy the ASX tech share.

While the company is generating material annual recurring revenue (ARR), it is not yet profitable.

But Bell Potter likes Life360’s growth trajectory, strong balance sheet, and the expectation it will be cash flow positive from the fourth quarter of FY23.

Until then, Life360 “has more than sufficient cash to fund its operations”.

Bell Potter says:

[The company] has the potential to leverage its large and growing user base to enter new markets and disrupt the legacy incumbents … insurance, item & pet tracking, senior monitoring, home security and/or identity theft.

The broker added: “The company has also recently made two acquisitions – Jiobit and Tile – so that now it not only connects and protects people but also pets and things.”

That’s Life360

Taking into account the past month’s gains, the Life360 share price is down by more than 56% over the year to date.

The post The Life360 share price has rocketed 69% in a month. Is it too late to buy? appeared first on The Motley Fool Australia.

Should you invest $1,000 in Life360 Inc. right now?

Before you consider Life360 Inc., you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Life360 Inc. wasn’t one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

See The 5 Stocks
*Returns as of July 7 2022

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360, Inc. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/GmhP7jt

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s