ASX 200 tech shares led last week with sector darling Life360 now up 21% in a month

ASX tech shares led the market with a 2.7% increase while the ASX 200 slipped 0.07%.

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points
  • ASX 200 tech shares outperformed last week with a 2.7% gain, led by strong performances from Life360 and Megaport, while the overall ASX 200 index slightly declined.
  • Life360 shares soared 8% last week, while Megaport saw a 5.68% rise after a bullish upgrade from Citi.
  • The tech sector's strong showing contrasted with declines in other sectors, such as energy, which lost 4.45%.

ASX 200 tech shares led the 11 market sectors last week with a 2.7% gain over the five trading days.

Meanwhile, the S&P/ASX 200 Index (ASX: XJO) slipped 0.07% to close at 8,864.9 points on Friday.

Just five of the 11 market sectors finished the week in the green.

Let's review.

A group of people of all ages, size and colour line up against a brick wall using their devices.

Image source: Getty Images

ASX technology shares led the market last week

Let's take a look at how the major ASX 200 technology shares performed last week.

The ASX 200's largest tech share, WiseTech Global Ltd (ASX: WTC), lifted 1.46% to close at $94.93 on Friday.

We presented 4 expert opinions on whether WiseTech shares are a buy, hold, or sell right now.

Wisetech shares went ex-dividend on Friday and will pay a final dividend of 11.9 cents on 10 October.

The Xero Ltd (ASX: XRO) share price rose 2.07% to $162.18 last week.

TechnologyOne Ltd (ASX: TNE) shares slipped 0.21% to $38.06 apiece.

Nextdc Ltd (ASX: NXT) shares increased 4.84% to $17.32.

The Life360 Inc (ASX: 360) share price swished 8% higher to $49.34.

Life360 shares are a firm investor favourite and have risen 21% in just one month.

Morgan Stanley has a buy rating on Life360 shares with a 12-month price target of $51.

Codan Ltd (ASX: CDA) shares inched 0.58% higher to finish at $30.95 apiece on Friday.

Megaport Ltd (ASX: MP1) shares rose 5.68% to $14.89 after Citi issued a bullish note upgrading the tech stock to a buy.

The Siteminder Ltd (ASX: SDR) share price lifted 1.46% to $6.93.

Objective Corporation Ltd (ASX: OCL) shares fell 0.63% to $20.58 apiece.

The Catapult Sports Ltd (ASX: CAT) share price ripped 15.67% to $6.79 despite no news from the company last week.

Catapult Sports shares reached a new record high of $6.99 on Friday.

Dicker Data Ltd (ASX: DDR) shares lifted 1.55% to $9.84 apiece.

The Iress Ltd (ASX: IRE) share price slipped 0.11% to $9.12.

Macquarie Technology Group Ltd (ASX: MAQ) shares rose 3.68% to close at $61.70 on Friday.

Macquarie Tech is among 9 ASX shares being dumped from the benchmark ASX 200 index in the next rebalance.

The Data#3 Ltd (ASX: DTL) share price lifted 4.2% to $9.68 and reached an 18-month high of $9.74 on Friday.

Data#3 shares are among 23 ASX stocks going ex-dividend next week.

The company will pay a dividend of 15 cents per share on 30 September.

ASX 200 market sector snapshot

Here's how the 11 market sectors stacked up last week, according to CommSec data.

Over the five trading days:

S&P/ASX 200 market sectorChange last week
Information Technology (ASX: XIJ)2.7%
A-REIT (ASX: XPJ)1.82%
Utilities (ASX: XUJ)0.57%
Financials (ASX: XFJ)0.4%
Communication (ASX: XTJ)0.36%
Materials (ASX: XMJ)(0.1%)
Consumer Staples (ASX: XSJ)(0.27%)
Healthcare (ASX: XHJ)(0.81%)
Consumer Discretionary (ASX: XDJ)(1.07%)
Industrials (ASX: XNJ)(1.26%)
Energy (ASX: XEJ)(4.45%)

Citigroup is an advertising partner of Motley Fool Money. 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 Catapult Sports, Life360, Megaport, Objective, SiteMinder, Technology One, WiseTech Global, and Xero. The Motley Fool Australia has positions in and has recommended Catapult Sports, Dicker Data, Objective, SiteMinder, WiseTech Global, and Xero. The Motley Fool Australia has recommended Technology One. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on ASX Share Market News

A woman in a red dress holding up a red graph.
Broker Notes

2 ASX shares to buy for returns better than 33%

These companies are primed for growth, Morgans says.

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a lacklustre start to the trading week this Monday.

Read more »

A woman smiles at the outlook she sees through binoculars.
Broker Notes

Buy, hold, sell: Newmont, Stockland, NAB shares

Let's check out some new expert recommendations.

Read more »

Surprised child reading all about ASX 200 shares in a newspaper.
ASX Share Market News

Why is everyone talking about DroneShield, Treasury Wine and Westpac shares on Monday?

DroneShield, Westpac, and Treasury Wine shares are turning heads on Monday. But why?

Read more »

Red sell button on an Apple keyboard.
Broker Notes

Sell alert! Why this expert is calling time on Whitehaven and Beach Energy shares

A leading analyst forecasts mounting headwinds for Whitehaven and Beach Energy shares. But why?

Read more »

Invest written on a notepad with Australian dollar notes and piggybank.
ASX Share Market News

BOQ launches $295m capital return and special dividend in FY26 update

Bank of Queensland returns $295 million to shareholders and finalises transformational milestones in its latest capital and earnings update.

Read more »

Two playful kangaroos relaxing on a beach.
Opinions

2 strong Australian stocks to buy now with $9,000

These businesses have strong return potential…

Read more »

A group of stockbrokers sit in a room with several computer screens in front of them as they discuss the Zip share price and Zip's merger with Sezzle
Broker Notes

Buy, hold, sell: WiseTech, Whitehaven, AMP shares

Let's start the week with some fresh ratings from the experts. 

Read more »