In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another decline. At the time of writing, the benchmark index is down 0.45% to 7,202.5 points.
Four ASX shares that are not letting that stop them from rising today are listed below. Hereâs why they are racing higher:
Life360 Inc (ASX: 360)
The Life360 share price is up 3.5% to $6.70. Investors have been buying this location technology companyâs shares after brokers responded positively to its first-quarter update. One of those was Bell Potter, which reiterated its buy rating with an improved price target of $9.00.
Pointsbet Holdings Ltd (ASX: PBH)
The Pointsbet share price is up 4% to $1.42. This appears to have been driven by a positive broker note out of Ord Minnett. According to the note, the broker has upgraded this sports betting companyâs shares to a buy rating with a $1.70 price target. This follows news that the company is selling its US business to Fanatics Betting and Gaming for US$150 million.
Serko Ltd (ASX: SKO)
The Serko share price is up 29% to $2.73. This has been driven by the release of the travel technology companyâs full-year results. Serko reported a 154% increase in total income to NZ$48 million. Pleasingly, another strong year is expected in FY 2024, with management guiding to total income of NZ$63 million to NZ$70 million. This represents an increase of 31% to 46% year over year.
Temple & Webster Group Ltd (ASX: TPW)
The Temple & Webster share price is up over 18% to $4.48. Investors have been buying this online furniture retailerâs shares following the release of a trading update. Temple & Webster revealed that its sales were up 10% over the prior corresponding period during the last four weeks. This is a big improvement on recent sales trends.
The post Why Life360, Pointsbet, Serko, and Temple & Webster shares are racing higher appeared first on The Motley Fool Australia.
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More reading
- 3 ASX 300 shares just upgraded by top brokers
- Guess which ASX tech share is rocketing 28% on huge full-year results
- 2 ASX All Ordinaries shares making big moves on trading updates
- Could ASX shares turn a $10,000 investment into $2,000,000?
- 5 things to watch on the ASX 200 on Wednesday
Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360, PointsBet, Serko, and Temple & Webster Group. The Motley Fool Australia has recommended PointsBet, Serko, and Temple & Webster Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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