Shares in Whispir Ltd (ASX: WSP) are tracking higher today and now trade 8% in the green at $1.98.
Right from the open, Whispir shares began the stair climb before peaking just after midday at $2.03 apiece. It has since cooled off to its current levels after trading sideways for the bulk of the day.
Whispir has a way to go if it is to return to its former highs, having evaporated more than 43% in the past 12 months. It has been on the elevator down south with fair certainty in that time.
What’s up with Whispir shares?
Despite the longer-term headwinds, Whispir has jumped 38% in the past month and is up another 22% in the previous week of trade.
After struggling early in the year, investors have rallied behind the company of late. Momentum continues this session as well – its share price is catching bids at a volume of 148% of its 4-week average today.
The upside is coming off a slumped period in 2022 where shares are still more than 4% in the red. However, it’s not just market sentiment that’s bullish.
Analysts are bullish too. Out of five firms covering the stock, four have it as a buy according to Bloomberg data.
The consensus price target is $3.29 per share, a huge up-step from the current market price of roughly $2 per share.
In fact, the bulk of analysts covering the company have been saying to buy Whispir shares for the previous 2 years, whilst the average price target has crept down somewhat.
Nonetheless, tech shares are staging a comeback, with the S&P/ASX All Technology Index (XTX) lunging another 10% higher this last month after springing off a low base.
With tech shares helping to keep the market buoyant, Whispir continues soaring higher in afternoon trade on Tuesday.
The post What’s up with the Whispir share price today? appeared first on The Motley Fool Australia.
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Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Whispir Ltd. The Motley Fool Australia has recommended Whispir Ltd. 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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