Author: therawinformant

The Aussie tech sector is home to a growing number of exciting companies. Here are two ASX tech shares that I am watching closely right now. Both have seen very strong share prices rises in recent months.

Whispir Ltd (ASX: WSP)

Whispir is a software-as-a-service (SaaS) communications workflow platform provider. The company only recently listed on the ASX but has been operating for a number of years. It services a growing list of industries including: financial services, government, IT Telecoms and Media, healthcare, transport and logistics and mining.

It continues to grow strongly in its home Australian market with year-on-year growth of 22% during 1H FY 2020. Big name local clients now include: AGL, Telstra, Qantas, BHP and Foxtel.

Whispir also continues to expand strongly into Asia with 26% growth during 1H FY 2020. It is currently focusing on Singapore and Indonesia, and now has a new go-to-market strategy in place with leading Indonesian telco, Indosat Ooredoo. Whispir also has expansion plans for the Philippines and Thailand, and is rolling out services in the United States.

Like other SaaS companies, Whispir is a capital-light organisation, which means that its business is highly scaleable. Each additional customer flows through to its operating margin, which currently sits at attractive 62%.

As is the case with many emerging ASX tech shares, Whispir has yet to become profitable. However, based on its current growth trajectory, it looks well placed to achieve that goal in the not too distant future.

The Whispir share price has recently been on fire, up from $0.705 on 23 March, to now be trading at $3.33.

Redbubble Ltd (ASX: RBL)

Redbubble owns and operates leading global marketplaces for independent artists. Its two core marketplaces are Redbubble.com and TeePublic.com, which enable artists to sell their designs on a range of products. These include goods spanning from apparel and bags, to wall art and linen.

This ASX tech share continues to advance at a very strong pace and the coronavirus crisis definitely hasn’t slowed down its growth story. In fact, the pandemic has actually led to an acceleration of Redbubble’s growth.

Redbubble recently updated the market on its YTD performance to 22 June. For the fourth quarter so far, year-over-year marketplace revenue growth came in at a staggering 107%. While year to date marketplace revenue grew by 42%.

I remain excited by Redbubble’s long term prospects, driven by the growing consumer trend towards an online shopping environment. The Redbubble share price has been on a steep upward trajectory since late March, increasing nearly 4-fold during that time.

Foolish takeaway

While still not quite in my buy zone just yet, both Whispir and Redbubble are two exciting small-cap ASX tech shares that have very promising business models. Recent strong revenue growth has seen their share prices soar higher over the past few months, despite the challenges of COVID-19. I will be watching them closely over the coming months to see if their growth stories continue.

More reading

• Which ASX shares will benefit from the second lockdown?
• 2 ASX shares that could be 10-baggers
• Are these small cap ASX shares future tech stars?
• The rise and rise of ASX SaaS shares
• 5 exciting small cap ASX shares to watch

Phil Harpur has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Whispir Ltd. The Motley Fool Australia has recommended REDBUBBLE FPO and Whispir 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.

The post 2 ASX tech shares with stellar growth prospects appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/2WkWggs

Although many shares on the S&P/ASX 200 Index (ASX: XJO) have recovered strongly from the market meltdown in March, not all have been so lucky.

Three ASX 200 shares that are still down materially from their highs are listed below. Is this a buying opportunity?

G8 Education Ltd (ASX: GEM)

The G8 Education share price is down 72% from its 52-week high. The childcare centre operator’s shares have come under significant pressure after it experienced a sharp decline in its occupancy levels because of the pandemic. And while the government did prop up the sector with additional stimulus, it wasn’t enough to stop G8 from launching a highly dilutive $301 million equity raising. And with supply continuing to outstrip demand, I don’t expect the tough trading conditions it is facing to ease any time soon. As a result, I wouldn’t be in a rush to invest.

Lendlease Group (ASX: LLC)

The Lendlease share price is down a sizeable 42% from its high. The international property and infrastructure company was hit hard by the pandemic, leading to it reporting a very sharp decline in profit this year. Core profit after tax is expected to be in the range of $50 million to $150 million in FY 2020, down from $467 million a year earlier. The good news is that the worst does appear to be behind the company now. And thanks to its burgeoning global development pipeline, the future looks increasingly positive. In light of this, I think now could be an opportune time to make a patient investment in its shares.

Webjet Limited (ASX: WEB) 

The Webjet share price is down a massive 80% from its 52-week high. Investors have been selling the online travel agent’s shares due to concerns over the impact the pandemic is having on travel markets. In addition to this, a highly dilutive equity raising has also weighed heavily on the Webjet share price. Unfortunately, despite this material drop, I don’t believe its shares offer value for money yet. I feel investors might be waiting until FY 2022 for Webjet to be profitable again and perhaps as long as FY 2024 before it delivers a profit on the same level as FY 2019’s $62.3 million. If this proves to be the case, it means Webjet’s shares are changing hands at 16x estimated FY 2024 earnings. Which certainly isn’t cheap.

More reading

• Could Fortescue and BHP shares climb higher in 2020?
• What moved the Wesfarmers share price in June?
• ASX 200 jumps 1.3%: Big four banks drop lower, Afterpay up after U.S. update
• Is the Boral share price next to be hit by M&A action?
• Is the Southern Cross Media share price cheap right now?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Webjet 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.

The post Should you buy Webjet and these beaten down ASX 200 shares? appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/3epnicQ

In early afternoon trade the S&P/ASX 200 Index (ASX: XJO) has followed the lead of U.S. markets and is on course to record a very strong gain. At the time of writing the benchmark index is up 1.2% to 6,011.2 points.

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

The Afterpay Ltd (ASX: APT) share price is up 3.5% to $68.75. Investors have been buying the payments company’s shares after it released an update on its U.S. operations. According to the announcement, the company’s millions of U.S. customers can now use Apple Pay and Google Pay to make purchases through its buy now pay later platform in physical retail stores and online.

The ELMO Software Ltd (ASX: ELO) share price is up 2% to $6.19. This follows the release of the cloud-based HR and payroll software company’s fourth quarter and full year update. For FY 2020, ELMO achieved record cash receipts of $57.5 million, up 27.4% on FY 2019’s cash receipts. At the end the financial year ELMO had a cash balance of $139.9 million with no debt. These funds will be used to invest in organic growth and executing strategic acquisitions.

The Oil Search Limited (ASX: OSH) share price is up 4% to $3.11. Investors have been buying the energy producer’s shares after oil prices rebounded overnight. Traders were bidding oil prices higher after OPEC announced greater than expected production cuts during the month of June.

The Paradigm Biopharmaceuticals Ltd (ASX: PAR) share price has jumped 11% higher to $3.15. This follows the release of the biopharmaceutical company’s full year update. That update provided investors with a summary on the progress Paradigm has made over the last 12 months and its expectations for the future. Management advised that results from a key program for its Zilosul therapy will be released in early August.

More reading

• ASX 200 jumps 1.3%: Big four banks drop lower, Afterpay up after U.S. update
• Openpay share price on the move after record quarterly growth
• Afterpay share price shoots higher on Apple Pay and Google Pay updates
• Is Altium still a leading ASX 200 tech share to buy?
• ASX tech star ELMO Software delivers strong growth in FY 2020 despite the pandemic

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 Elmo Software. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Elmo Software. 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.

The post Why Afterpay, ELMO, Oil Search, & Paradigm shares are racing higher appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/30e93lV

Over the course of what has been a crazy and volatile year (to say the least), ASX iron ore miner shares have been a pillar of stability. It’s a rather unusual situation for ASX resources shares like BHP Group Ltd (ASX: BHP) to find themselves in. Conventionally, companies in the ASX resources sector are renowned for their volatility and tendency to rise and fall on the back of the prices their chosen commodities command at any given point.

But in the face of the coronavirus pandemic, our biggest mining companies have, in hindsight, been some of the best shares to hold in a portfolio. Take BHP. BHP shares started the year at $38.95 and are currently trading at $37.78 (at the time of writing). That’s not bad for a year when the S&P/ASX 200 Index (ASX: XJO) is still down around 10% year to date.

It’s an even better story for Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG). Rio shares are 2.5% into positive territory for the year on current prices, but it’s Fortescue that no one seems to have informed of the current state of the global economy. Fortescue shares are up a staggering 47% year to date. Just this morning, its shares also reached another new, all-time high of $16.10.

Why are ASX iron ore miners hitting the roof?

Much like a certain noble house in a certain formerly-popular TV show, it’s the iron price that counts here. Iron ore prices have had a remarkable year so far. They did fall to around US$80 per tonne in mid-March. But a supply squeeze in the large Brazilian mining industry has resulted in the iron ore price exploding in more recent months. At the time of writing, one tonne of iron ore is asking a market price of US$109.22.

Initially, many investors feared that the supply squeeze would resolve itself and the spike in the iron ore price would be fairly temporary. But the winds are changing on this train of thought, which is why we are seeing iron miners like Fortescue reach new highs today.

According to reporting in yesterday’s Australian Financial Review (AFR), analysts from United States bank and broker, JPMorgan, have increased their 2020 forecasts for iron ore by 2% to US$93 per tonne. The broker cited robust steel output from China as the primary catalyst for the upgrade. It also upgraded its 2021 forecasts to include a US$84 per tonne pricing target (up from US$80).

Is it too late to buy Fortescue or BHP shares?

I always maintain that the best time to buy ASX resources shares is when there is a low point in the commodity pricing cycle. Right now, we are at the opposite point. Therefore, I don’t think there is too much upside left to capture in the current market.

More reading

• Should you buy Webjet and these beaten down ASX 200 shares?
• What moved the Wesfarmers share price in June?
• ASX 200 jumps 1.3%: Big four banks drop lower, Afterpay up after U.S. update
• Is the Boral share price next to be hit by M&A action?
• Is the Southern Cross Media share price cheap right now?

Motley Fool contributor Sebastian Bowen 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.

The post Could Fortescue and BHP shares climb higher in 2020? appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/32kNP90

The 1st Group Limited (ASX: 1ST) share price stormed more than 150% higher in early trade today before falling back to a more modest gain of 60% at the time of writing. The rally came after Openpay Group Ltd (ASX: OPY) released an announcement this morning regarding a strategic partnership with the company.   

Openpay and 1st Group enter a revenue sharing partnership

Earlier today, Openpay released its quarterly update which highlighted the company’s revenue-sharing partnership agreement with 1st Group. The agreement will allow Openpay to provide its buy now, pay later (BNPL) payment services through the MyHealth1st platform. As a result, Openpay will have exposure to various health sectors including pharmacy, dental, optometry and veterinarian services.  

The partnership agreement spans 3 years and will see a phased roll-out of Openpay’s BNPL services across the MyHealth1st platform. The initial roll-out will be across 60 sites and will also involve Openpay marketing the MyHealth1st platform within its merchant network.

Under the agreement, Openpay will pay for platform functionality and both companies will share reveneus generated from new customer generation.

What does 1st Group do?

1st Group is an Australian digital health group that provides online platofrms that allow clients to search and book appointments with health care providers. The company’s platforms include MyHealth1st.com.au, PetYeti.com.au (an online pet service portal) and corporate solutions platform, GoBookings.com. In addition to providing appointment booking services, 1st Group’s platforms also facilitate digital patient and customer engagement.

In the company’s recent quarterly update released in late April, 1st Group reported improved metrics for the third quarter of FY20. It reported a 6.5% increase in annual recurring revenue (ARR) for the quarter of $5.26 million. Annual contract value (ACV) also increased 4.1% on the previous quarter to $6.36 million.

In response to the coronavirus pandemic, 1st Group also launched COVID19clinics.com.au which serves as a national directory that allows customers to find testing services. The company also launched its integrated Telehealth directory in April, which aims to simplify the experience for customers.

Foolish takeaway

The 1st Group share price bolted more than 150% higher in early trade, hitting an intraday high of 8 cents. At the time of writing the company’s share price has been sold-off and is currently trading more than 60% higher for the day at 5 cents per share.

More reading

• Why De Grey, Openpay, Woodside, & Zip shares are dropping lower
• Openpay share price on the move after record quarterly growth
• ASX 200 Weekly Wrap: Rocketing BNPL shares fail to stop ASX 200 slide
• The Openpay share price is surging today. Is it the next Afterpay?
• Zip share price surges 30% in a week. Are we calling bubble yet?

Motley Fool contributor Nikhil Gangaram 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.

The post 1st Group share price storms 150% higher on Openpay partnership appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/2WmbbqJ

Shares in ASX large cap Wesfarmers (ASX: WES) posted solid gains during the month of June, with the Wesfarmers share price hitting highs of almost $45 and closing the month at $44.83 per share. This represents a 11% increase across the month, and a 45% jump on its lows of $31 in March.

Since the end of June, the Wesfarmers share price has continued to run higher, sitting at $46.33 at the time of writing. The conglomerate’s shares are up 10.71% for the year to date, which is an impressive gain compared to the 10.58% drop in the S&P/ASX 200 Index (ASX: XJO) during the same period.

What moved the Wesfarmers share price in June?

In my opinion, the Wesfarmers share price performance this year is impressive, considering its exposure as a diversified retailer. For comparison, other large cap discretionary shares such as Aristocrat Leisure Limited (ASX: ALL) and Crown Resorts Ltd (ASX: CWN) have fallen 25% and 24%, respectively, year to date.

In June, a solid  helped charge the conglomerate’s impressive run. The company released a strong retail trading update that revealed sales were up over all its stores except Target, which saw sales drop by 1.8%. Kmart also posted disappointing growth, with its sales growth slowing to 4.1%.

The standout performer for Wesfarmers was easily online retailer Catch, which saw online sales rise by a massive 68.7% in the half-year to date. This compares to only 21.4% in the first half of Fy20.

In the update, Wesfarmers managing director Rob Scott noted that “it was pleasing to see a gradual reopening of the economy alongside the continuation of appropriate measures with respect to COVID-19.” The recent coronavirus developments resulting in parts of Victoria re-entering lockdown may dampen some of this sentiment from Mr Scott, however.

DIY driving share price higher

The June update also revealed that Bunnings saw huge increases of 19.2% in sales growth for the second half of FY20, compared to only 5.8% growth during the first half. For FY20 year-to-date, sales also rose strongly for Bunnings, with the hardware superstore seeing an 11.3% increase compared to the prior corresponding period.

The performance of Officeworks was also very strong. Sales were up by 27.8% for the second half of FY20 to date, compared to only 11.5% in the first half. Officeworks’ FY20 sales to date were also strong, up by 19.3%.

As a result of coronavirus, Australians have been forced to stay at home and this has led to increased spending on goods to assist with working and learning. This has undoubtedly have been a factor in Officeworks’ strong growth.

Now what

In the calendar year to date, the group’s retail businesses delivered total online sales growth of 89%, excluding its online retailer Catch, evidence that Wesfarmers’ substantial investments in its e-commerce capabilities in recent years is clearly paying off.

When including Catch, on a financial year to date basis, total online sales across the group increased by 60% to $1.4 billion or $1.9 billion.

The Wesfarmers share price sits at $46.33 at the time of writing, with a $52.5 billion market capitalisation.

More reading

• ASX 200 jumps 1.3%: Big four banks drop lower, Afterpay up after U.S. update
• Is the Boral share price next to be hit by M&A action?
• Is the Southern Cross Media share price cheap right now?
• 3 ASX 200 shares to buy and hold for a decade
• Is the BHP share price about to surge?

Motley Fool contributor Daniel Ewing has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Wesfarmers Limited. The Motley Fool Australia has recommended Crown Resorts 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.

The post What moved the Wesfarmers share price in June? appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/2ZrWjcg

At lunch on Wednesday the S&P/ASX 200 Index (ASX: XJO) is on course to record a very strong gain. The benchmark index is currently up 1.3% to 6,020.4 points.

Here’s what has been happening on the market today:

Big four banks acting as a drag.

Despite the positive investor sentiment, the big four banks have failed to push higher on Wednesday. All four banks are in the red and have been acting as a drag on proceedings this morning. The worst performer in the group is the Westpac Banking Corp (ASX: WBC) share price with a 0.7% decline. Concerns over bank dividends may be weighing on their shares.

Afterpay update.

The Afterpay Ltd (ASX: APT) share price is surging higher after announcing the launch of Afterpay for Apple Pay and Google Pay in the United States from this month. Co-founder and CEO, Nick Molnar, commented: “As we enter the second half of the year and retail re-emerges across the world, it’s critical we help our partners drive business growth, both online and offline. As a proven solution for driving incremental sales and new customer growth, we are thrilled to introduce our new omni-channel solution to U.S retailers as they begin to open their doors and bring shoppers back to their physical stores.”

Woodside share price lower on impairment update.

The Woodside Petroleum Limited (ASX: WPL) share price is dropping lower on Wednesday after announcing material impairments because of the collapse in oil prices. According to the release, Woodside expects to recognise non-cash, post-tax impairment losses of US$3.92 billion with its first half results. This comprises $2.76 billion for oil and gas properties and $1.16 billion for exploration and evaluation assets. Origin Energy Ltd (ASX: ORG) has also done the same this morning.

Best and worst ASX 200 shares.

The best performing ASX 200 share on Wednesday has been the Clinuvel Pharmaceuticals Limited (ASX: CUV) share price with a 7% gain. This is despite there being no news out of the biopharmaceutical company. The worst performer has been the Treasury Wine Estates Ltd (ASX: TWE) share price with a 2.5% decline. One broker that would see this as a buying opportunity is Morgan Stanley. On Monday it upgraded its shares to an overweight rating with a $13.50 price target.

More reading

• What moved the Wesfarmers share price in June?
• Why De Grey, Openpay, Woodside, & Zip shares are dropping lower
• Is the Boral share price next to be hit by M&A action?
• Is the Southern Cross Media share price cheap right now?
• Openpay share price on the move after record quarterly growth

Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia owns shares of and has recommended Treasury Wine Estates Limited. The Motley Fool Australia owns shares of AFTERPAY T 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.

The post ASX 200 jumps 1.3%: Big four banks drop lower, Afterpay up after U.S. update appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/2Zwp8od

The 3P Learning Ltd (ASX: 3PL) share price has surged around 40% in the past 3 weeks. Let’s look at what’s fuelling this ASX share price growth and whether it’s time to invest in the company.

Why is the 3P Learning share price surging?

Since 3P Learning has not released any price sensitive news in the past 3 weeks, it could be assumed that investors are jumping on the company’s shares as fears grow of a ‘second wave’ of the coronavirus pandemic. As a result, with a new school term beginning and debate lingering over whether kids should return, the services offered by 3P Learning could see greater demand.

3P Learning is an online education platform that offers a range of resources that cover core subjects such as mathematics, spelling, literacy and science. The company’s platform currently boasts more than 5 million students from over 17,000 schools around the world.

How has this ASX share performed during the pandemic?

With many schools and institutions closing during the pandemic, there has been a rush to online education platforms. In a business update released in late April, 3P Learning reported an increase in demand for its products and services. According to the company’s management, 3P Learning expanded its staff by 10% and released 10,000 new activities in order to accommodate the demand. 

In the company’s most recent business update released in late June, 3P Learning announced a US$10 million agreement with the National Ministry of Education in the Middle East. The deal will see 3P Learning provide Mathletics licenses and professional development services over a 12-month period.

Should you buy?

The coronavirus pandemic has forced traditional teaching at schools and institutions to adapt to online modes of education. Although online education providers like 3P Learning won’t be able to replace traditional teaching methods, they could serve as an excellent auxiliary service in the long term. Despite the optimism, it’s also important to note the budget restrictions of education providers as they adapt to online education modes.

Personally, I really don’t like buying ASX shares that have rallied so hard in a short period of time, instead I prefer getting set to invest when a company’s share price is basing. I think a prudent strategy would be to either wait for the 3P Learning share price to consolidate or do further research on other education companies that could benefit in the short and long term.

More reading

• The latest ASX recommendation changes by top brokers

Motley Fool contributor Nikhil Gangaram 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.

The post This ASX share has surged 40% in 3 weeks appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/2OnTBy7

The S&P/ASX 200 Index (ASX: XJO) has returned to form on Wednesday and is storming higher. In late morning trade the benchmark index is up 1.2% to 6,012 points.

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

The De Grey Mining Limited (ASX: DEG) share price is down 2% to 70.5 cents. This morning the gold-focused mineral exploration company announced the allotment of 19.2 million shares to DGO Gold Ltd (ASX: DGO) and 1 million shares to Peter Hood. This follows shareholder approval on 10 July 2020 and represents the 2nd Tranche of the placement initially announced on 28 April 2020.

The Openpay Group Ltd (ASX: OPY) share price is down 4% to $4.23 following the release of its fourth quarter update. The buy now pay later provider achieved record growth across a number of leading indicators during the quarter. This includes a 229% increase in active plan numbers, a 141% lift in active customer numbers, and a 52% jump in active merchants. This ultimately led to total transaction value rising 98.2% for the full year to $192.8 million. It appears as though investors were expecting even stronger numbers.

The Woodside Petroleum Limited (ASX: WPL) share price is down almost 2% to $21.04. This follows an announcement by the energy producer of billions of dollars of impairments because of the collapse in oil prices. Woodside expects to recognise non-cash, post-tax impairment losses of US$3.92 billion with its first half results. This comprises $2.76 billion for oil and gas properties and $1.16 billion for exploration and evaluation assets.

The Zip Co Ltd (ASX: Z1P) share price is down 2.5% to $6.86. This follows the release of the buy now pay later provider’s fourth quarter and full year update. For FY 2020, Zip’s annualised transaction volume was ~64% higher year on year and $100 million ahead of target at $2.3 billion. This led to a 72% year on year increase in revenue to $161.2 million. Possibly weighing on its shares today is a rise in bad debts from 1.84% in the third quarter to 2.24% at the end of the fourth quarter.

More reading

• 1st Group share price storms 150% higher on Openpay partnership
• ASX 200 jumps 1.3%: Big four banks drop lower, Afterpay up after U.S. update
• Openpay share price on the move after record quarterly growth
• Zip Co share price bounces wildly following FY 2020 update
• Woodside announces a $6.2 billion hit

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 ZIPCOLTD FPO. 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.

The post Why De Grey, Openpay, Woodside, & Zip shares are dropping lower appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/3gYxyu9