Author: therawinformant

In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to extend its winning streak. At the time of writing, the benchmark index is up 0.8% to 6,083.1 points.

Four shares that have failed to follow the market higher today are listed below. Here’s why they are dropping lower:

The ARB Corporation Limited (ASX: ARB) share price is down 1% to $29.77. The catalyst for this decline appears to be a broker note out of Ord Minnett this morning. According to the note, the broker has downgraded the auto accessories company’s shares to a lighten rating with an improved price target of $24.00. Ord Minnett made the move on valuation grounds after a strong gain in recent months.

The Accent Group Ltd (ASX: AX1) share price is down 1% to $1.70. This is despite there being no news out of the footwear-focused retailer today. However, prior to today, the Accent share price was up over 34% since the start of August. This could mean that some investors have decided to take a bit of profit off the table today.

The Bigtincan Holdings Ltd (ASX: BTH) share price has fallen 1% to $1.33. This follows the announcement of an acquisition this morning by the sales enablement software platform provider. Bigtincan has entered into an agreement to acquire Denmark-based Agnitio for 15 million Danish kroner (A$3.3million). Agnitio is a pioneer in sales enablement for the life sciences sector, with sustainable annualised recurring revenue (ARR) of A$1.6 million.

The Transurban Group (ASX: TCL) share price has dropped over 1% to $13.98 following the release of its annual general meeting update. At the meeting the toll road operator revealed that its quarterly traffic volumes have made a significant improvement across the Sydney, Brisbane and North America markets since the period of peak restrictions. It also advised that it has commenced a process for the potential introduction of equity partners into its Greater Washington Area assets. It expects this to release significant capital into the business.

More reading

• Why all eyes will be on the Bigtincan (ASX:BTH) share price on Thursday
• Are these the best small cap ASX shares to buy for FY 2021?
• ASX 200 finishes 1.3% higher after federal budget
• ASX 200 up 0.4%: Big four banks push higher, Westpac upgraded, ARB impresses
• Why a2 Milk, Afterpay, ARB, & SEEK shares are pushing higher today

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends BIGTINCAN FPO. The Motley Fool Australia owns shares of Transurban Group. The Motley Fool Australia has recommended Accent Group, ARB Limited, and BIGTINCAN FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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The CSL Limited (ASX: CSL) share price is pushing higher today after the release of an announcement.

At the time of writing the biotherapeutics company’s shares are up over 1% to $295.62.

What did CSL announce?

This morning CSL announced that its Seqirus vaccines business has signed a final agreement with the Commonwealth of Australia.

This agreement is for the supply of 51 million doses of the University of Queensland-CSL COVID-19 vaccine candidate (V451), should clinical trials be successful.

According to the release, it also includes an up-front financial commitment from the Government to support the clinical and technical development activities that CSL will need to assume in order to progress V451.

Furthermore, if clinical trials are successful, the agreement secures access to onshore production and supply of the vaccine for Australia.

What is V451?

The company advised that it has been working hard to respond to the current COVID-19 pandemic and has invested significant resources in the rapid development and large-scale manufacture of V451, along with a number of other therapeutic programs.

Pleasingly, the large-scale Phase 2b/3 clinical study for V451 is almost ready. Management notes that it will be a randomised, observer-blinded, placebo-controlled study across numerous countries and upwards of 100 sites.

The study will evaluate efficacy, immunogenicity, and safety in adults aged 18 years and above.

Subject to progress in the current Phase 1 study, the first subject for the Phase 2b/3 would be enrolled in December 2020, with the goal of completing recruitment by March 2021.

Management commented: “We are committed to demonstrating the vaccine is safe and effective prior to availability in the market. Discussions have already commenced with the Australian Therapeutic Goods Administration (TGA) to ensure this goal is met, while also making the vaccine available to the Australian population in the shortest possible time.”

In addition, CSL advised that it is working to engage partner organisations to assist with production of further doses with the goal of providing broader access to the vaccine, should clinical trials be successful.

This is on top of the agreement the company has signed with the Government to manufacture the Oxford University/AstraZeneca vaccine candidate (AZD1222) if successful.

Though, given the risk, effort, cost and uncertainty associated with the development of these novel vaccines, management warned that it is too early to calculate the financial impact of these activities.

More reading

• 3 ASX shares to buy in a US election selloff
• Federal Budget: What it means for the CSL (ASX:CSL) share price
• Why this Federal Budget is good for many ASX shares
• Why I would buy CSL (ASX:CSL) and this blue chip ASX share
• Leading brokers name 3 ASX shares to buy today

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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Unearthing the best stock picks for October 2020 may be a challenging task due to economic uncertainty. However, it could produce high returns.

The uncertain economic outlook could provide investors with an opportunity to find attractive stock picks. Many high-quality businesses are trading at low prices due to the challenging trading conditions they currently face. As such, their valuations may be relatively attractive on a long-term view.

By focusing on unpopular sectors, companies with a long track record of growth and those businesses with solid financials, you could buy sound businesses at low prices. Doing so may not transform your portfolio returns in October, or even in 2020. But it could lead to impressive capital returns in the long run.

Searching for top stock picks in unpopular sectors

Some of the best stock picks in October 2020 may be trading in industries that are facing a difficult near-term outlook. The weak prospects for the global economy could cause lower profitability for sectors such as oil and gas, financial services and other industries that are reliant on consumer spending while sentiment is at multi-year lows.

Investors may naturally steer their search for the best shares away from unloved sectors. They may be relatively risky in the short run. However, due to their wide margins of safety, they could offer a relatively attractive risk/reward investment opportunity for long-term investors. And, since many stocks in the same industry may be viewed unfavourably by investors, there may be severe mispricings on offer.

Defensive characteristics

Today’s most attractive stock picks may be those that offer some defensive characteristics. This does not mean that they are immune to a weak economic outlook that is likely to last for many months beyond October 2020. However, it could mean that they have the capacity to survive a difficult period for their industry and the wider economy.

As such, checking company annual reports and recent updates provides guidance as to the strength of a business. For example, it may have undrawn credit lines that can be used should economic conditions worsen. Or, it may have a history of outperforming its sector peers during more challenging periods for the economy. By investing in stocks with some defensive characteristics, you may be able to overcome a likely period of slower growth in the coming months.

Past performance can act as a guide

Companies with impressive returns prior to 2020 could prove to be some of the best stock picks at the present time. For many businesses, this year has been a hugely challenging period that may not provide an accurate means of assessing their long-term prospects. As such, using past performance over recent years may provide investors with a superior means of assessing the strength of a company’s outlook.

Certainly, the future is a known unknown. But by purchasing those companies with wide margins of safety, defensive characteristics and a long track record of growth, you may be able to improve your portfolio returns in the coming years.

More reading

• CSL (ASX:CSL) share price higher on COVID-19 vaccine update
• This is why the Netwealth (ASX:NWL) share price just jumped 9% to a record high
• Volpara (ASX:VHT) share price jumps 5% up after business update
• Netflix will surge 28% to $650, according to this analyst
• Why the Sezzle (ASX:SZL) share price is surging 11% higher today

Motley Fool contributor Peter Stephens has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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The Netwealth Group Ltd (ASX: NWL) share price charged 9% higher to a record high of $17.42 on Thursday morning following the release of its first quarter update.

The investment platform provider’s shares have dropped back a touch since then but are still up 5% to $16.72 at the time of writing.

How did Netwealth perform in the first quarter?

During the three months ended 30 September, Netwealth recorded an 8% or $2.5 billion increase in funds under administration (FUA). This was driven by net inflows of $1.9 billion and favourable market movements of $0.6 billion.

Netwealth’s net inflow of $1.9 billion was an increase of $0.4 billion or 29.1% on the prior corresponding period.

Also increasing during the quarter was the company’s funds under management (FUM). At the end of September, its FUM stood at $8.1 billion, up $0.8 billion for the quarter. This includes Managed Account net inflows of $0.7 billion.

This means the company’s Managed Account balance has now reached $6.5 billion, up 109.7% on the prior corresponding period.

How does its growth compare to its rivals?

According to the release, the latest Strategic Insights platform market update shows that Netwealth is growing more than rivals such as HUB24 Ltd (ASX: HUB) and Praemium Ltd (ASX: PPS).

For the quarter ending 30 June 2020, Netwealth recorded the largest quarterly FUA net inflows of $1.5 billion. This was 40% higher than its nearest competitor.

It was the same story for its 12 month rolling net inflows. The company’s FUA net inflows came in at $9.1 billion for the 12 months to 30 June. This means Netwealth had the highest 12-month net fund flows for the ninth consecutive quarter.

This has helped increase Netwealth’s market share to 3.8%, up 1.1% for the year. Which makes the company the 7th largest platform provider in the market today.

No guidance was provided for either the remainder of the first half or FY 2021.

More reading

• Why Galaxy (ASX:GXY) and these ASX shares just hit new highs
• ASX 200 drops 1.2%, Mineral Resources (ASX:MIN) fell 9%
• Netwealth share price on watch after strategic investment in Xeppo

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Hub24 Ltd and Praemium Limited. The Motley Fool Australia owns shares of Netwealth. The Motley Fool Australia has recommended Hub24 Ltd and Praemium Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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The Volpara Health Technologies Ltd (ASX: VHT) share price has surged 5.47% to $1.44 this morning. This follows a positive business update for Q2. Let’s see how Kiwi medtech company finished off the first half of FY21.

Strong Q2 performance

Volpara announced a record performance in the second quarter for FY21. Annual recurring revenue (ARR) jumped to NZ$19.9 million, adding NZ$850,000 on the prior corresponding period. This was underpinned by a mix of significant upsells and new contract wins.

Volpara highlighted that the increase in ARR was driven by deals completed through its major original equipment manufacturer (OEM) partners. Most notably, Fuji Medical & GE Healthcare, were selling Volpara software with their x-ray machines.

The average revenue per user (ARPU) also rose to US$1.16, a jump of 6% from Q1 FY21. A large portion of these contracts in the Q2 period ranged from US$1.75 to US$4.30. Volpara advised that this was helped by the increased sales of its integrated breast care platform.

In addition, the company advised that at least one of its software products was used by 27% of women in the United States. Volpara noted a slight drop over the quarter due to COVID-19-related cost pressures, with customers opting for generic breast cancer screening. To combat the competitor threat, the company said it was advancing the integration of a breast care platform.

What did the CEO say?

Volpara CEO Dr Ralph Highnam welcomed the result. He said:

This was a very strong Q2 and was particularly pleasing for the company, given we made a substantial change to our marketing strategy and reshaped our US commercial team midway through the quarter. The momentum we now have, with the expanded digital marketing and increasing OEM interest, bodes well for the rest of the year.

COVID-19 has been challenging for many companies, so I’m very pleased with how we’ve adapted to the ‘new normal’. We now intend to accelerate our plans around upselling the installed base to migrate our customers to SaaS contracts and the powerful new integrated breast care platform we’ve now formally released. That platform is a game-changer for radiology practices.

Volpara share price summary

The Volpara share price hasn’t moved much since its dramatic fall in March, reaching 79 cents. With a market capitalisation of $343 million, Volpara is still a long way off its 52-week high of $2.17 achieved in late 2019. The company’s shares finished trading yesterday at $1.37.

More reading

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• Could these small cap ASX shares be the next Afterpay (ASX:APT) or Zip (ASX:Z1P)?
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• 3 very exciting small cap ASX shares to watch

Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of VOLPARA FPO NZ. The Motley Fool Australia has recommended VOLPARA FPO NZ. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The stock of Netflix (NASDAQ: NFLX) has been one of the undisputed winners this year, having jumped 56% so far in 2020, but will surge to new all-time highs over the course of the coming year.

So says Pivotal Research analyst Jeffrey Wlodarczak. On Wednesday, Wlodarczak raised his price target from $600 to $650, a high among the analysts who cover Netflix, while maintaining his buy rating on the stock. His new target represents potential gains for investors of about 28% over the closing price on Monday, roughly $506. 

Wlodarczak cited the ‘virtuous cycle’ as the catalyst to drive Netflix’s growth. Current subscribers are helping finance the company’s spending on new programming, which ultimately brings in new paying customers. This ongoing cycle will help Netflix maintain its position “as the dominant subscription-video-on-demand player for the foreseeable future,” Wlodarczak wrote in a note to clients.

He also highlighted Netflix’s unrivaled pricing power as an important component of the company’s success. “We expect further material price increases, while also still substantial increases in subscriber totals, and eventually a rapid expansion in (Netflix’s) profitability reaching an ultimate about 35% (profit) margin by 2026,” he said.

Will Netflix’s stock price ultimately hit $650? The evidence suggests that Wlodarczak’s thinking is right on the money. Streaming has seen greater adoption since the onset of the pandemic, with Netflix gaining nearly as many subscribers through the first half of 2020 as it did all of last year. 

And with many of the company’s production facilities temporarily shuttered, Netflix’s net income surged higher and its negative cash flow turned positive. This helps buttress the argument that the tech giant will be able to rapidly increase its profits and positive cash flow once it decides to slow the rate of its content creation.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

More reading

• Better buy: Amazon vs Netflix

Danny Vena owns shares of Netflix. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Netflix. The Motley Fool Australia has recommended Netflix. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The Sezzle Inc (ASX: SZL) share price is storming higher in morning trade following the release of its third quarter update.

At the time of writing the buy now pay later provider’s shares are up 11% to $8.88.

How did Sezzle perform in the third quarter?

For the three months ended 30 September, the Afterpay Ltd (ASX: APT) rival reported a sizeable 231.5% year on year increase in underlying merchant sales (UMS) to US$228 million (A$318 million).

According to the release, Sezzle’s average monthly UMS reached US$76.1 million in the third quarter, up from US$62.7 million in the second quarter and US$22.9 million during the prior corresponding period.

This was driven by a 178.1% year on year increase in active customers to 1.79 million and a 178.3% lift in active merchants to 20,890.

Another positive was its repeat usage metric, which shows that Sezzle’s customers are using its platform more frequently. It reported active customer repeat usage of 89%, which is the 21st consecutive month of repeat usage growth.

Management notes that this has been a key driver of lowering its loss rates and enhancing its net transaction margin. While no loss rate data was provided with its update, the company advised that “leading loss indicators have stabilized to better than pre-COVID levels.”

Sezzle’s Executive Chairman and CEO, Charlie Youakim, was pleased with the company’s performance during the quarter.

He commented: “We are excited to produce another record quarter of results as our product offering continues to prove its resiliency as well as its necessity during these difficult times. Our strong performance in 3Q is reflective of an improving Sezzle consumer profile along with the continued acceleration of eCommerce in the marketplace.”

Outlook.

The company has reiterated its UMS guidance of achieving an annualised run rate in excess of US$1 billion by the end of 2020.

In fact, it finished the third quarter just shy of this target at US$985.9 million, so it appears highly likely that Sezzle will smash this guidance. Especially given the upcoming holiday season.

More reading

• Sezzle (ASX:SZL) share price shoots higher on Target USA news
• ASX 200 jumps 2.4% higher, numerous shares rise
• Why Afterpay, Nufarm, PolyNovo, & Sezzle shares are racing higher today
• Sezzle (ASX:SZL) share price on watch after announcing Ally Lending partnership
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Sezzle Inc. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Sezzle Inc. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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The Catapult Group International Ltd (ASX: CAT) share price is pushing higher on Thursday after the announcement of two new product launches.

At the time of writing, the sports analytics and wearables company’s shares are up over 4% to $2.19.

What did Catapult announce?

This morning Catapult announced the launch of two new customer-facing solutions to support American football teams as they return to play amidst new COVID 19 restrictions.

These solutions provide teams with cloud-based full-resolution video analysis and a new seamless indoor-outdoor experience for American Football.

The latter cleverly allows teams to transition between global positioning system (GPS) and local positioning system (LPS) tracking in a single session. Management notes that this is revolutionary for teams that track different training groups concurrently within each environment.

The new cloud based full-resolution video analysis solution complements the company’s pro tactics and coaching product, Thunder.

This product is used by the majority of coaches and front office staff of NFL and NCAA college football teams. The new solution will allow them to utilise Thunder from home and on-the-go. This could prove valuable given the changing workflows due to the COVID 19 pandemic.

“Driving future growth.”

Catapult’s Chief Commercial Officer, Matt Bairos, believes that the deployment of three high impact solutions going into an unprecedented American football season is a great example of Catapult driving future growth and building on its industry-leading position.

He commented: “We are committed to innovating on behalf of our customers and helping them build a greater understanding of their player performance. We understand the workflow of our customers intimately and, with the challenges presented by COVID-19, we are proud of the speed with which we have been able to deliver solutions which empower athletes and teams during these unusual times.”

More reading

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Catapult Group International Ltd. The Motley Fool Australia has recommended Catapult Group International Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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The BINGO Industries Ltd (ASX: BIN) share price has been a positive performer on Thursday morning.

At the time of writing the waste management company’s shares are up 2.5% to $2.75.

Why is the BINGO share price pushing higher?

This morning BINGO provided an update on its funding and current trading conditions.

In respect to its funding, the company revealed that it has secured the refinancing of its $500 million Syndicated Facility Agreement (SFA), which was due to mature on 31 August 2021.

Management believes the enhanced flexibility and capacity within the facility will provide greater opportunity for growth. Especially given how it provides additional covenant flexibility which will enable BINGO to increase its debt capacity as its earnings grow.

BINGO’s Chief Financial Officer, Chris Jeffrey, commented: “We’re pleased to have secured a successful debt refinancing in a challenging operating environment. The new facility is more consistent with BINGO’s current scale and credit profile. This further demonstrates the strength of BINGO’s business model and underlines the ongoing support we have from our expanded lending group.”

What about trading conditions?

According to the release, the waste management company has started FY 2021 positively.

BINGO’s key Post-Collections business, which accounts for approximately 72% of Group EBITDA, has continued its strong momentum in volumes throughout the first quarter.

Management notes that July and September were record months for volumes, with September average daily volumes 5% higher than July 2020.

However, things aren’t quite as positive for the Collections business. It advised that average daily Collections volumes continue to be affected by the ongoing impacts of COVID-19 on its Victorian Building and Demolition (B&D) business and the whole Commercial & Industrial (C&I) business.

As a result, total daily volumes across the first quarter of FY 2021 were 10% to 15% below pre-COVID-19 levels.

Pleasingly, volumes have improved slightly in September and the company anticipates further improvement in activity as COVID-19 restrictions are lifted. And while prices remain below pre COVID-19 levels, they have remained relatively stable across the business, with a modest uplift occurring in September.

Speaking about the rest of FY 2021, BINGO’s Managing Director and CEO, Daniel Tartak, commented: “Our views on the outlook for FY21 remain unchanged. While we have started the year well we expect COVID-19-related economic and market headwinds may continue to impact the business in FY21 and cause a softening in parts of our addressable market versus the prior year.”

More reading

• Why the Sezzle (ASX:SZL) share price is surging 11% higher today
• Here’s what is driving the Catapult (ASX:CAT) share price higher today
• Top ASX growth shares to buy in October 2020
• 3 reasons why ASX lithium shares can surge in 2021
• Budget 2020: Why the Woolworths (ASX:WOW) share price can soar

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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Along with our Top ASX Stock Picks for October, we also asked our Foolish writers to pick their favourite ASX growth shares to buy this month.

Here is what the team have come up with…

Glenn Leese: Atomo Diagnostics Ltd (ASX: AT1)

Atomo designs, develops, manufactures and sells medical devices for rapid, blood-based testing. The company’s products are marketed for both personal and professional use and, I believe, have huge potential in the fight to get society ‘back to normal’ in the wake of the pandemic.

Atomo has developed a rapid antibody test identifying people that have previously contracted coronavirus. The product determines a test subject’s potential immunity within just 15 minutes using a single drop of blood. With regulatory approval received in Australia and Europe, the company is now seeking further approvals in the United States, Canada, Mexico and India.

India is currently experiencing high rates of daily COVID-19 infections. Atomo has partnered with Indian diagnostic company, DIVOC Laboratories, to provide up to 77,000 test kits to Indian government and corporate customers, with potentially millions more to come.

Motley Fool Contributor Glenn Leese owns shares of Atomo Diagnostics Ltd.

More reading

• Why I would buy Afterpay (ASX:APT) and these ASX growth shares
• Got $5,000 to invest? Buy these unstoppable ASX shares right now
• 3 ASX shares to buy in a US election selloff
• ASX 200 up 0.4%: Big four banks push higher, Westpac upgraded, ARB impresses
• Why BHP, Estia Health, Newcrest, & Starpharma shares are dropping lower

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of AUDINATEGL FPO, PUSHPAY FPO NZX, and Xero. The Motley Fool Australia owns shares of BETA CYBER ETF UNITS. The Motley Fool Australia has recommended AUDINATEGL FPO, PUSHPAY FPO NZX, and Sky City Entertainment Group Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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