Life360 Inc (ASX: 360) shares slipped on Tuesday.
Shares in the S&P/ASX 200 Index (ASX: XJO) tech stock, which develops family-oriented software for location sharing, closed the day down 1.5% at $32.75 apiece.
But down days have been unusual for this tech stock of late.
Despite Tuesday's dip, Life360 shares remain up 139.1% over 12 months.
Perhaps even more remarkably, shares have now rocketed 95.6% since 7 April's close.
Meaning if you'd bought $10,000 worth of shares on the day, you'd now be sitting on $19,564 (exclusive of any brokerage fees). And that's in just two months.
But with this kind of stellar performance behind it, is it too late to buy shares right now?
Life360 shares in the spotlight
Morgans' Damien Nguyen recently ran his slide rule over the soaring ASX 200 tech company (courtesy of The Bull).
"This information technology company provides a mobile networking safety app for families," said Nguyen, who has a hold recommendation on Life360 shares for now.
According to Nguyen:
Life360 has demonstrated impressive growth and reported a strong March 2025 update, showing increasing penetration across its key markets and continuing success in converting members to its subscription based offering.
The company has further solidified its position in the family tracking and location sharing market.
But with shares having almost doubled in two months, Nguyen believes much of its near-term growth prospects have already been priced in.
"Life360's current valuation appears to reflect much of its anticipated growth, which suggests limited immediate upside potential," he said.
In light of that, you may want to bide your time and try to buy Life360 shares on the next dip.
"While Life360's long term prospects remain promising, potential investors may want to consider waiting for possibly a more favourable entry point," Nguyen advised.
What's been driving investor interest in the ASX 200 tech stock?
The near doubling in the Life360 share price since 7 April has partly been driven by the broader rebound in the tech sector. This came as investors reassessed the long-term potential impacts of United States President Donald Trump's global tariff campaign.
The renewed exuberance for ASX tech stocks has seen the S&P/ASX 200 Information Technology Index (ASX: XIJ) soar 43.5% since 7 April, far outpacing the 16.8% gains posted by the ASX 200 over this same period.
The company also received a very positive investor response to its record first quarter results, released on 13 May.
Life360 shares closed up a whopping 14.0% on the day after the company reported a 32% year on year increase in revenue to US$104 million. Operating cash flow of US$12.1 million was up 13%.
"As a trusted daily essential for millions, we are uniquely positioned to support families through uncertain times, and beyond," Life360 CEO Chris Hulls said of the strong first quarter results.
