Why Nitro, PointsBet, Sezzle, and Siteminder shares are racing higher

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a high. At the time of writing, the benchmark index is up 0.8% to 7,414.6 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are racing higher:

Nitro Software Ltd (ASX: NTO)

The Nitro share price has jumped 21% to $1.38. Investors have been buying this document productivity software company’s shares amid a rebound in the tech sector and the release of its quarterly update. The latter revealed that Nitro had a record quarter and is on course to deliver on its annual recurring revenue guidance in FY 2022.

PointsBet Holdings Ltd (ASX: PBH)

The PointsBet share price is up 10% to $2.97. This follows the release of the sports betting company’s quarterly update. PointsBet reported a 54% increase in turnover to $1,398 million. This was driven by a 37% increase in Australian turnover to $579.4 million and a 70% jump in US turnover to $818.6 million.

Sezzle Inc (ASX: SZL)

The Sezzle share price is up 8.5% to 88.5 cents. This morning the buy now pay later provider released its quarterly update and revealed active customer growth of 31.6% to 3.5 million. This supported a 20.1% year-on-year increase in underlying merchant sales, which hit US$450.5 million during the first quarter.

Siteminder Ltd (ASX: SDR)

The Siteminder share price has jumped 9% to $4.72. Investors have been buying this hotel booking technology company’s shares after it reported a big improvement in its performance during the third quarter. SiteMinder recorded its strongest ever March quarter, with third quarter revenues of $29 million. This was up 16.1% year on year in constant currency.

The post Why Nitro, PointsBet, Sezzle, and Siteminder shares are racing higher appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of January 12th 2022

More reading

Motley Fool contributor James Mickleboro 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 Pointsbet Holdings Ltd and SiteMinder Limited. The Motley Fool Australia has recommended Nitro Software Limited and Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/pBeMhgx

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s