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.
