Absolutely! People evolve on their positions overtime at different paces and in directions. Those inscriptions our friends wrote in our year books at age 18, "Never change!" are unrealistic!
Everyone changes! We grow together or we grow apart.
For example lets say you met someone while you were both single and you went out partying or hung out together most of your free time. Your friend gets married and has children or they become very religious. Odds are it will effect the nature of your friendship. Their "priorities" or values have changed.
A year or two later you get married and start having children. Suddenly you are bonding together over "play dates" and experiences you have in common.
On the other hand there are some people who never "grow". Every time you get together with them it is as if they are frozen in time. They can only talk about the past because that's where they (live).
Some friends come into our lives for a season and some for a lifetime. It's the circle of life. :-)