The S&P/ASX 200 Index (ASX: XJO) is on form on Wednesday and charging higher. At the time of writing, the benchmark index is up 0.7% to 8,598.3 points.
Four ASX shares that are rising more than most today are listed below. Here’s why they are climbing:
DroneShield Ltd (ASX: DRO)
The DroneShield share price is up 8.5% to $2.17. This is despite there being no news out of the counter drone technology company. However, with its shares down heavily in recent weeks, it seems that some investors believe they are now a bargain buy. Bell Potter appears to agree. It recently put a buy rating and $5.30 price target on its shares.
Electro Optic Systems Holdings Ltd (ASX: EOS)
The EOS share price is up over 7% to $4.78. This follows news that the defence company has completed a key acquisition and settled ASIC’s investigation in relation to certain disclosure matters in 2022. The settlement includes an agreed proposed penalty of $4 million. As for the acquisition, EOS has completed the deal to acquire the UK-based Interceptor business from MARSS Group for $10 million.
Gentrack Group Ltd (ASX: GTK)
The Gentrack share price is up a further 5% to $8.93. This airport and utilities software provider’s shares have been rocketing this week thanks to the release of its FY 2025 results. Gentrack posted an 8% increase in revenue to NZ$230.2 million and an 18% jump in EBITDA to NZ$27.8 million. Management also reiterated its mid-term target of more than 15% compound annual revenue growth and an EBITDA margin of 15%â20%. Bell Potter was pleased and retained its buy rating on its shares with an improved price target of $11.00. Gentrack’s shares are now up 33% this week.
Web Travel Group Ltd (ASX: WEB)
The Web Travel share price is up a further 6% to $4.63. This travel technology company’s shares have been flying this week following the release of its half year results on Tuesday. Web Travel posted a 22% lift in total transaction value (TTV) to a record of $3.17 billion and a 17% jump in underlying EBITDA to a record of $81.7 million. Commenting on its performance, Web Travel’s managing director, John Guscic, said: “WebBeds continues to deliver world class TTV growth. We reported $3.2 billion TTV for the first 6 months of the financial year, 22% more than the same period last year, driven by the significant above-market growth coming through in our top 3 regions, particularly the Americas.” This morning, Macquarie put an outperform rating and $6.85 price target on its shares.
The post Why DroneShield, EOS, Gentrack, and Web Travel shares are surging today appeared first on The Motley Fool Australia.
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More reading
- Why is this ASX defence stock rocketing 10% today?
- Buy this ASX tech stock before it’s too late: Bell Potter
- Leading analysts name 3 ASX 200 titans to buy today
- Why are DroneShield shares flying 16% higher on Tuesday?
- Why Gentrack, IPD, SRG, and Web Travel shares are racing higher today
Motley Fool contributor James Mickleboro has positions in Web Travel Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended DroneShield, Electro Optic Systems, Gentrack Group, and Macquarie Group. The Motley Fool Australia has positions in and has recommended Gentrack Group and Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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