The S&P/ASX 200 Index (ASX: XJO) is having a mildly positive finish to the week. In afternoon trade, the benchmark index is up 0.15% to 8,863.3 points.
Four ASX shares that are rising more than most today are listed below. Here’s why they are climbing:
Life360 Inc (ASX: 360)
The Life360 share price is up 28% to $33.99. Investors have been fighting to get hold of the location technology company’s shares after it released a very strong fourth quarter update. Life360 revealed that its monthly active users (MAU) reached 95.8 million, up 20% year on year. This comprises US MAU of 50.6 million and international MAU of 45.3 million. Another positive was that its Paying Circles (paid users) grew 576,000 to 2.8 million. This was the largest annual net addition on record. In light of this, FY 2025 revenue is now expected to be between US$486 million and US$489 million. This represents a year on year increase of 31% to 32%.
Northern Star Resources Ltd (ASX: NST)
The Northern Star share price is up 6% to $27.78. This follows a jump in the gold price overnight, which is lifting most gold miners today. In addition, a note out of Bell Potter reveals that its analysts have retained their buy rating on its shares with an improved price target of $31.10. It said: “Despite the lower production and higher costs, NST managed to generate A$648m of operating mine cash flow (A$129m net mine cash flow) over the quarter. As the business comes to the end of the KCGM mill expansion we expect the business to generate materially higher FCF which may be distributed to shareholders or re-invested.”
Objective Corporation Ltd (ASX: OCL)
The Objective Corporation share price is up 4% to $16.48. This morning, this content, collaboration, and process management solutions provider revealed plans to buy back shares. Starting next month, Objective Corporation will commence an on-market buy-back of up to approximately 9.6 million shares.
Rox Resources Ltd (ASX: RXL)
The Rox Resources share price is up 7% to 59 cents. As well as getting a big lift from the rising gold price, this morning this gold stock released its quarterly update. Its managing director and CEO, Phillip Wilding, spoke very positively about the quarter and its future. He said: “Rox has had a transformational quarter with the release of the DFS, commencement of underground mining and completion of the planned equity funding component of the project financing. Our DFS confirmed the financial and technical viability of the Youanmi Gold Project, with strong metrics, low costs and a moderate capital requirement.”
The post Why Life360, Northern Star, Objective Corp, and Rox shares are charging higher today appeared first on The Motley Fool Australia.
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More reading
- Up 29% today. Why Life360 shares are surging on record results
- ASX gold shares go crazy as gold price rips toward US$5,000 on Friday
- Brokers name 3 ASX shares to buy today
- Life360 posts record Q4 as revenue and EBITDA top guidance
- Objective Corporation launches on-market share buy-back
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 and Objective. The Motley Fool Australia has positions in and has recommended Life360 and Objective. 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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