The Dubber Corp Ltd (ASX: DUB) share price is on the radar today after hitting a new 52-week high in early trading.
Dubber shares are now exchanging hands at $3.23 apiece, after retracing from the intraday high of $3.39.
Today’s gains mark a 0.6% step into the green from market open. Whilst there has been no market sensitive news today, let’s take a look at what Dubber has been up to lately.
Quick recap on Dubber Corporation
Dubber’s main line of business is in the provision of call recording.
It does this by operating as a cloud platform, via the Dubber Connect service, that records and captures calls alongside other forms of communication.
Dubber has a market capitalisation of $823 million at the time of writing.
What has Dubber been up to lately?
On 3 June, the company released that its call recording service is now a “standard feature on Cisco Webex calling and UCM cloud”.
The upgrade comes at no extra cost to users and enables Webex Calling and UCM users to record “any and all conversations as an included feature” on the platform.
In effect, it permits users to extend storage, record videos, transcribe audio, and perform “sentiment analysis or AI-enriched insights”.
Dubber says users with “compliance or regulatory requirements” will be the main benefactors of the upgrade, which it claims is a huge plus due to a “significant shift to remote workforce arrangements”.
Speaking on the announcement, Dubber chief executive Steve McGovern said:
Dubber Foundation benefits Cisco and Dubber customers with a required capability as a standard feature while providing for the broader journey whereby the content of calls can be transformed into rich, usable data for compliance, productivity, insights and customer engagement.
McGovern also added the partnership “provides Dubber with a significant additional revenue stream…to accelerate growth in our core products” whilst protecting its current revenue models.
Dubber shares jumped 12% in the six days following the announcement, and have climbed a total of 14% since that time.
Therefore, it stands to reason that investors continue buying Dubber shares on the back of this fundamental momentum in the company’s growth engine.
Dubber Corp share price snapshot
The Dubber share price has spent this year to date in the green, posting a return of 94% since January 1.
This extends the previous 12 month’s return of 130%, outpacing the S&P / ASX 200 Index (ASX: XJO)’s return of ~21% over the same time frame.
Dubber shares have also gained ~12% in the last 5 trading sessions to now.
The post Dubber Corp (ASX:DUB) share price hits 52 week high today appeared first on The Motley Fool Australia.
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The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Dubber Corporation. The Motley Fool Australia owns shares of and has recommended Dubber Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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