Category: Stock Market

The Dogecoin (CRYPTO: DOGE) price hit an all-time high of 74 cents on 8 May last year.

At the time, the meme crypto which features a Shiba Inu dog on its logo, was receiving some big-name support. That included plaudits from Tesla Inc (NASDAQ: TSLA) founder Elon Musk.

But the last 9 months haven’t been kind to crypto investors who bought at the highs.

Since 8 May, the Dogecoin price has crashed a gut-wrenching 81%, according to data from CoinMarketCap. One Dogecoin currently trades for 14 cents.

Despite that slide, the dog-themed token still has a total market valuation of some US$19 billion, making up 1.1% of the total crypto-sphere.

And with most every other crypto in retreat as well – Bitcoin (CRYPTO: BTC) is down 44% from its own 10 November record highs – Dogecoin still ranks as the number 11 crypto by market cap.

What’s next for the Dogecoin price?

Forecasting price moves for cryptos is no easy, or guaranteed, task. And when it comes to meme tokens like Dogecoin, investor sentiment is going to play a big role.

Taking a technical analysis approach, FXStreet forecasts that the Dogecoin price should hit 16 US cents this week. That’s up 15% from the current price.

FXStreet notes that Dogecoin plunged 35% in 6 days from 16-22 January. Since then, however:

DOGE has produced a sideways movement indicating consolidation around the $0.14 barrier. Any short-term spike in buying pressure is likely to propel [the] Dogecoin price into a 15% ascent to $0.164. This level coincides with the 50-day Simple Moving Average (SMA).

But beware if Dogecoin reverses and falls below the immediate support level of 12.8 US cents. “This downswing could be the key in triggering a crash to the $0.09 support floor.”

Scott Pape, aka the Barefoot Investor, has a decidedly more bearish outlook for the Dogecoin price.

Pape, who hasn’t been a big fan of cryptocurrencies to date, said (quoted by The Daily Mail), “If you’re asking me where the crypto market is going, I have absolutely no idea in the short term. Yet I do have a rough yardstick on when we’ll see the bottom: When Dogecoin is valued at zero.”

The post Down 81% since May, can the Dogecoin price go to zero? appeared first on The Motley Fool Australia.

More reading

• What? 2 days of gains for Bitcoin, Ethereum, and Dogecoin?
• Bitcoin (CRYPTO:BTC) takes most popular crown, here are 3 cryptos hot on its heels
• Bitcoin, Ethereum, and Dogecoin surge higher as crypto markets recover
• Why Bitcoin, Ethereum, and Dogecoin plunged today
• Forget Bitcoin! These were the 5 crypto assets you wish you’d held in 2021

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Bitcoin. The Motley Fool Australia has no position in any of the stocks mentioned. 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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If you’re an investor with a high tolerance for risk, then you may want to look at the ASX shares listed below.

This week the team at Bell Potter put speculative buy ratings on them. Here’s what you need to know:

Bubs Australia Ltd (ASX: BUB)

According to the note, Bell Potter has retained its speculative buy rating and lifted its price target on this infant formula company’s shares to 70 cents. The broker was pleased with Bubs’ better than expected performance during the second quarter and has upgraded its estimates to reflect this.

Bell Potter commented: “BUB delivered another strong quarter of growth in 2Q22, which again has been driven in large by the infant nutrition business. Improving secular trade flows to China, continued signs of brand traction and the potential for BUB to benefit in indirect distribution channels as A2M shifts focus to direct China channels, are supportive of our Buy, Speculative risk rating.”

PointsBet Holdings Ltd (ASX: PBH)

Bell Potter has retained its buy rating but cut its price target on this sports betting company’s shares to $9.00 following the release of its second quarter update. While the broker felt it was a bit of a mixed quarter, it saw enough in it to remain positive on the future.

It commented: “The key take-out of the Q2 quarterly was the trading metrics in both Australia and the US were good but the market share across most live states in the US continues to weaken.”

“We continue to believe PointsBet will be successful in establishing a US business across approximately 18 states and provinces though the market share is unlikely to reach its target of 10%, at least in the short to medium term (i.e. before product becomes the key driver),” the broker added.

Volpara Health Technologies Ltd (ASX: VHT)

Finally, Bell Potter has retained its speculative buy rating and trimmed its price target on this medtech company’s shares to $1.30. It notes that the company’s shares have been on a downward trajectory over the last 12 months despite its strong growth continuing. Bell Potter appears to believe this could be a buying opportunity for investors.

The broker said: “The company continues to show solid progress in revenue growth and its move toward positive cash flow generation from operations. Notwithstanding, its EV/Revenue multiple has nearly halved over the course of the last year, consistent with many peers in the med tech space.”

“VHT has an expanding revenue base and appears to be on a pathway to cash flow breakeven over the course of calendar years 2022/2023. We conclude that the company is well funded in the short term and will continue to expand its revenue footprint both from existing clients and newly business opportunities,” it added.

The post Broker names 3 speculative ASX shares to buy appeared first on The Motley Fool Australia.

More reading

• Why Boral, Carsales, Credit Corp, and PointsBet shares are racing higher
• Broker says PointsBet (ASX:PBH) share price could have 90% upside
• ASX 200 (ASX:XJO) midday update: Credit Corp impresses, Boral’s $3bn capital return
• What are brokers saying about the Bubs (ASX:BUB) share price?
• These were the worst performing ASX 200 shares in January

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. owns and has recommended Pointsbet Holdings Ltd and VOLPARA FPO NZ. The Motley Fool Australia owns and has recommended VOLPARA FPO NZ. The Motley Fool Australia has recommended BUBS AUST FPO and Pointsbet Holdings 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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Key points

• Company earnings are beginning to feed through on the ASX
• We go over four sections of an earnings report and what can be helpful to make a note of
• Consider it a crash course in fundamental investing, hopefully helping avoid a crash in the process

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Once again we’re saying hello to another ASX earnings season! This is an exciting time when publicly-listed companies release their financial results for the past quarter/half year.

Company reports can be daunting to read, especially if you’re not familiar with all the financial jargon. However, they are a valuable source of information for investors, and it’s important to know how to digest them.

During ASX earnings season, it’s even more important to stay on top of company reports so you can make informed investment decisions.

In this article, we will break down company reports into 4 bite-sized pieces. In the process, we’ll explain what each section means and what are some key takeaways to be looking for when reading them.

Taking an earnings report head on

The world of investing is a constant educational journey. Whether you’re a seasoned investor or still wet behind the ears, there is always more to learn.

Today, class is in session for a timely topic — how to make sense of earnings reports. To better understand this staple of an investor’s research, we’ll reference JB Hi-Fi Limited (ASX: JBH) half-year report from last year.

First bite: company’s own snapshot

Typically, the first section of an earnings report is reserved for the company to discuss some key highlights from the relevant reporting period. Often this comes with commentary from the chair and/or CEO, relaying any key points of information to shareholders.

This first section can serve as a good base for understanding what the company does; what significant events occurred during the reporting period; and how performance is tracking compared to expectations.

In this section, it can be handy to take note of any challenges or opportunities outlined by the company. Another important segment to pay attention to is the remuneration report within the ASX earnings report (usually in annual reports). It is here where investors can find out how directors are being remunerated, including short and long-term incentives.

Second bite: income statement

Further into the ASX earnings report is where we will find the company’s income statement, also known as the profit and loss statement. Simply put, this is the total money in for the company during the period, minus the total money out.

In JB Hi-Fi’s half-year report, as shown above, the revenue figure represents the money that came into the company. When we get to the last line item ‘Profit for the half-year attributable to owners of the company’ — or otherwise known as net profit after tax — this is the amount of money retained by the business after all expenses are taken out.

Investors should pay attention to any one-off line items and adjustments. Often it is helpful to take note of any significant increases in certain expenses. This will help tell the story of where the company is pouring its money into. For example, in the above JB Hi-Fi example, the biggest increase was in sales and marketing expenses.

Third bite: cash flow statement

Cash flow is an important metric for shareholders and company’s to keep a close eye on. In an ASX earnings report, investors can find this under the cash flow statement. Keep in mind, cash flow is different from profit.

This statement gives insight into where the company’s cash is coming from and going to. Usually, this is separated into three segments: cash flow from operations; cash flow from investments; and cash flow from financing. Ideally, the company is cash-flow positive, with more money coming in than going out.

Here is where we can see how much money is flowing out to different areas. This can give a sense of how much capital is being deployed across investment activities.

Furthermore, if the company holds any debt, we can see how much capital that might be draining from the business during the reporting period.

Final bite: balance sheet

Finally, the statement that is arguably mentioned the most during times of hardship is the balance sheet. This section of an ASX earnings report is a staple for fundamental investors to feast their eyes upon.

In short, the balance sheet is comprised of three parts: assets; liabilities; and equity. Though, it is the first two that tend to attract the most attention.

When reviewing a balance sheet, it is important to take note of the relationship between total assets and total liabilities.

If a company has substantially more liabilities, that would suggest it is using leverage/debt to grow, which can come with added risk. A common rule of thumb is a 40% debt to equity ratio. If the company’s debt is less than 40% of its total equity, this is usually on the safer side.

Lastly, the cash and cash equivalents section will indicate how much liquid capital the company has at the ready. This can be used to fund growth through acquisitions or save for a rainy day.

The post ASX earnings season: How to digest a company report in 4 bite-sized pieces appeared first on The Motley Fool Australia.

More reading

• Broker names 3 speculative ASX shares to buy
• Are ASX travel shares finally emerging from the COVID storm?
• Why Amcor, Ansell, Block, and Credit Corp shares are sinking today
• These 3 ASX 200 shares are topping the volume charts on Wednesday
• Why has ASX travel share Flight Centre (ASX:FLT) lifted 10% in a week?

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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Key points

• ASX travel shares finished Wednesday in the green
• Prime Minister Scott Morrison has expressed optimism on international borders opening
• Citi analysts are optimistic about travel as COVID-19 Omicron cases peak

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ASX travel shares finished in positive territory today amid renewed optimism on international borders.

The Webjet Ltd (ASX: WEB) share price closed up 1.97% while Qantas Airways Limited (ASX: QAN) finished 2.65% higher. The Flight Centre Travel Group Ltd (ASX: FLT) also edged 1.44% into the green.

Let’s take a look at what may have lifted ASX travel shares today.

Renewed push on international borders

ASX 200 travel shares have been performing well since the market emerged from the Australia Day holiday. Since market open on January 27, Webjet is 12% higher, Qantas has gained 10% while Flight Centre is up 13%.

In a press conference in Sydney today, Prime Minister Scott Morrison expressed optimism the international border will open, Perth Now reported.

The key issue that I’ve tasked our health officials to advise me on in opening up the border to international arrivals is what impact that might have on the hospital system and the pressures that could come from additional people coming into the country at this time.

Morrison hailed the opening to backpackers and visa holders a success, the publication reported.

The comments follow Morrison telling radio on Friday the borders may “fully open” before Easter.

Other ASX travel shares seem to have been buoyed by the optimism today. Helloworld Travel Ltd (ASX: HLO) closed 1.27% in the green while Corporate Travel Management Ltd (ASX: CTD) was up 0.33% on the day

Earlier this week, Citi research analyst Samuel Seow found despite the COVID-19 Omicron scare, people continued to visit international travel sites in the past month. In comments reported in The Australian, he said:

Intentions to travel as measured by website visits remained relatively stable through the uncertain period. We expect this bodes well for travel as cases begin to peak.

Today, the Australian Tourism Export Council also backed calls for the international border to open. In a media release, managing director Peter Shelley said:

Opening our borders would bring in desperately needed workers, reconnect people with their families and provide a lifeline to our tourism industry which has copped a lot over the last two years.

In every way we have joined the rest of the world in taking on covid as part of our day to day lives and we now need to remove the last pretence of a barrier and accept that Australia has to re-engage with the global travel community by fully reopening or international borders. 

ASX travel share summary

In the past 12 months, ASX travel shares have found themselves back in positive territory.

Webjet is 3.17% higher, Qantas has gained 7.39% while Flight Centre’s share price has hiked almost 22% in the past year.

Over the same period, the S&P/ASX 200 Index (ASX: XJO) has gained around 4.85%.

The post Are ASX travel shares finally emerging from the COVID storm? appeared first on The Motley Fool Australia.

More reading

• Why has ASX travel share Flight Centre (ASX:FLT) lifted 10% in a week?
• Could the Webjet (ASX:WEB) share price be about to get a boost?
• Top broker says Corporate Travel Management (ASX:CTD) shares can rise 36%
• ASX 200 shares offer 12% upside after sell-off: JP Morgan
• What is green shorting and which ASX 200 shares are being targeted?

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Helloworld Limited. The Motley Fool Australia owns and has recommended Helloworld Limited. The Motley Fool Australia has recommended Corporate Travel Management Limited, Flight Centre Travel Group Limited, and Webjet 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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The S&P/ASX 200 Index (ASX: XJO) is having a strong day. In afternoon trade, the benchmark index is up 1.2% to 7,092.3 points.

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

Amcor (ASX: AMC)

The Amcor share price is down 3.5% to $16.39. Investors have been selling the packaging company’s shares following the release of its half year results. For the six months ended 31 December, Amcor reported net sales of US$6,927 million and a net profit of US$548 million. The latter fell short of the market consensus estimate of US$554 million.

Ansell Limited (ASX: ANN)

The Ansell share price is down 2.5% to $26.00. Investors have been selling this health and safety products company’s shares this week after it downgraded its earnings guidance. Ansell now expects its earnings per share to be between 125 US cents to 145 US cents in FY 2022. This is down materially from its previous guidance of 175 US cents to 195 US cents. This downgrade was driven by softening demand and COVID-related operational challenges.

Block Inc (ASX: SQ2)

The Block share price is down 5.5% to $161.46. Investors have been selling this payments company’s shares after its rival PayPal fell materially short of the market’s expectations with its quarterly result. This led to the PayPal share price falling 18% in after hours trade on Wall Street. The US listed shares of Block were down 7% after hours.

Credit Corp Group Limited (ASX: CCP)

The Credit Corp share price is down almost 6% to $32.89. This appears to have been driven by a lukewarm response to the debt collector’s half year results from brokers. For example, while Morgans has put an add rating and $36.80 price target on its shares, it analysts note that Credit Corp’s first half profit fell short of its expectations.

The post Why Amcor, Ansell, Block, and Credit Corp shares are sinking today appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Amcor slides, BHP and Fortescue storm higher
• Amcor (ASX:AMC) share price falls despite reaffirming earnings guidance and US$200m buyback expansion
• Why did these tech shares lead the ASX 200 today?
• Ansell (ASX:ANN) share price falls again amid broker upgrade
• Afterpay takes a bow, officially uniting with Block (ASX:SQ2) shares on the ASX

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The S&P/ASX 200 Index (ASX: XJO) has continued to power ahead this Wednesday so far with another healthy gain. At the time of writing, the ASX 200 is up a robust 1.3% at 7,098 points, rising steadily for most of the day

So let’s dig a little deeper and check out the ASX 200 shares that are currently at the top of the ASX 200’s trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Wednesday

Telstra Corporation Ltd (ASX: TLS)

Telstra is the first ASX 200 share worth taking a look at today. This telco has seen a hefty 13.9 million of its shares bought and sold so far this Wednesday. This might have something to do with the announcement Telstra made this morning. As we covered earlier, the company has gazetted two new infrastructure programs, a satellite system and a new ‘dual’ fibre network. Amid this announcement, the Telstra share price has risen strongly today, currently up 1.4% to $4 a share. It’s this combination that has probably earned Telstra its place on this list today. 

Pilbara Minerals Ltd (ASX: PLS)

Lithium share Pilbara is next up this Wednesday. The ASX 200 resources company has had a sizeable 15.01 million of its shares swap hands thus far today. There’s not much in the way of news out of Pilbara today. However, the company has been the beneficiary of some broker love, as my Fool colleague James covered this morning. The Pilbara share price is also enjoying some pleasing gains today. It’s presently up a meaty 4.3% at $3.40 a share. It’s probably this combination that has helped Pilbara experience such high trading volumes.

BHP Group Ltd (AS:X BHP)

Our final and most traded ASX 200 share today is none other than the mining giant BHP. The Big Australian’ has had an impressive 17.08 million of its shares traded on the markets thus far this Wednesday. BHP shares have had a solid day on the ASX today, rising by 1.8% to $45.74 a share. However, it’s likely that BHP’s unification is also lending a hand to this trading volume. This week, BHP ended its London listing, which resulted in millions of LSX-listed shares being relocated to the ASX. This might be why we are finding BHP at the top of the volume tables today. 

The post These 3 ASX 200 shares are topping the volume charts on Wednesday appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to buy today
• Why Aussie Broadband, BrainChip, Talga, and Telstra shares are pushing higher
• Oil prices are at an 8-year high, so why isn’t the Woodside (ASX:WPL) share price?
• ASX 200 (ASX:XJO) midday update: Amcor slides, BHP and Fortescue storm higher
• Telstra (ASX:TLS) share price climbs on new $1.6 billion ‘nation-building’ projects

Motley Fool contributor Sebastian Bowen owns Telstra Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended Telstra Corporation Limited. 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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Key points

• The Flight Centre share price has gained 10.56% in a week
• Flight Centre shares up 1.38% in today’s trade
• International border reopening hope is helping ASX travel shares

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The Flight Centre Travel Group Ltd (ASX: FLT) share price is flying high this week, taking off since Australia Day.

The travel company’s shares are up 10.56% since market close on 25 January. In today’s trade the Flight Centre share price is up 1.38%, swapping hands for $17.58 at the time of writing.

Let’s take a look at what could be impacting this ASX travel share.

What’s been happening at Flight Centre?

Flight Centre shares may be ascending, but they are not the only ASX travel share on the rise.

Since market close on 25 January, Qantas Airways Limited (ASX: QAN) shares have risen 7.83%. And the Webjet Limited (ASX: WEB) share price is soaring 8.84% in the same timeframe.

Meanwhile, Corporate Travel Management Ltd (ASX: CTD) has climbed 5.46%, and Helloworld Travel Ltd (ASX: HLO) has leapt 11.16% in that time.

Flight Centre and ASX travel shares appear to be on the rise on the back of positive news on the international border.

Prime Minister Scott Morrison provided hope international borders may be open before Easter. He made the comments during a visit to Cairns on Friday.

In an interview with 4CA, Mr Morrison said:

I look forward to international visitors more broadly, tourists coming back.

And that’s our next, that’s our next hurdle. And we’re working away to just get the timing of that right, and I don’t think it’s too far away.

… I’d like to see us get there soon, certainly before Easter, well before Easter.

Meanwhile, the Australian Tourism Export Council has weighed into the debate on borders today, stating international closures are “no longer a viable or sensible approach”.

Managing director Peter Shelley said:

Given every person arriving in Australia has to be fully vaccinated and tested, there simply is no greater health risk which would result from reopening our international borders – rather it would provide a huge relief to an already burdened and struggling tourism sector.

The hermit kingdom approach to protecting our borders is no longer viable and we need urgent clarity from the government on when we can welcome international visitors.

What’s the outlook for Flight Centre?

Citi has lowered its price target for the Flight Centre share price, News Corp reported yesterday.

Commenting on his outlook for Flight Centre shares, Citi vice president and analyst Sam Seow said:

Our cautiousness on Flight Centre increases as cash burn appears to have increased during this (Omicron) period and it appears to be getting closer to debt covenants.

Meanwhile, my Foolish colleague James recently reported Flight Centre is the most shorted share on the ASX.

Share price recap

The Flight Centre share price has surged 21% in the past 12 months but is down 0.23% year to date.

For perspective, the S&P/ASX 200 Index (ASX: XJO) has gained nearly 5% in the past 52 weeks.

The company has a market capitalisation of about $3.5 billion based on the current share price.

The post Why has ASX travel share Flight Centre (ASX:FLT) lifted 10% in a week? appeared first on The Motley Fool Australia.

More reading

• These are the 10 most shorted ASX shares
• Are Virgin Australia shares set to rejoin the ASX soon?
• When will Flight Centre (ASX:FLT) pay a dividend again?
• The Flight Centre (ASX:FLT) share price just hit a 5-month low. Is now the time to buy?
• These are the 10 most shorted ASX shares

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Helloworld Limited. The Motley Fool Australia owns and has recommended Helloworld Limited. The Motley Fool Australia has recommended Corporate Travel Management Limited, Flight Centre Travel Group Limited, and Webjet 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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Key points

• The Webjet share price is still nearly 40% lower than it was before the pandemic began. That’s despite the broader market having arguably recovered
• However, light might have appeared at the end of the tunnel. The prime minister has seemingly flagged the end to many of Australia’s border restrictions
• International travellers from much of the world could be holidaying in Australia before Easter

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Australia’s COVID-19 response has been a flurry of movement lately, but many travel shares like Webjet Limited (ASX: WEB) are still caught up in border chaos.

Now, an industry body is calling for international border restrictions to end. Simultaneously, the prime minister has signalled the government’s intent to open up as soon as possible.

At the time of writing, the Webjet share price is $5.17. That’s 39% lower than it was at the end of January 2020, just weeks before Australia’s international borders slammed shut to travellers in the wake of the COVID-19 pandemic.

For context, the S&P/ASX 200 Index (ASX: XJO) is currently 1% higher than its final close of January 2020.

Australia’s international borders could soon be back to normal

The Webjet share price could be in for a boost in the near future as prime minister Scott Morrison reportedly said he’s “cautiously optimistic” about allowing all travellers back into Australia.

According to reporting by the Guardian, the prime minister told a press conference today he’s called on health officials to provide advice on the impact that opening the nation’s borders could have on the hospital system.

It was only days ago Morrison commented that the government hopes to welcome all international visitors back “well before Easter”. He told Cairns radio station 4CA:

[W]e’re just watching how Omicron is sort of washing over the eastern states at the moment, but with Omicron peaking, that then starts opening up opportunities… we’ve already got those backpackers and students coming back and we’re seeing arrivals now back into the country, you know, going back up very, very quickly.

But tourism and health bodies are calling for a faster restart to tourism.

The Australian Tourism Export Council (ATEC) released a statement today saying Australia’s border restrictions are “no longer a viable or sensible approach”. It said their unnecessary closure is impacting the recovery of industries including tourism, hospitality, and farming.

The body is calling for the federal government to announce a reopening date. ATEC managing director Peter Shelley stated:

Given every person arriving in Australia has to be fully vaccinated and tested, there simply is no greater health risk which would result from reopening our international borders, rather it would provide a huge relief to an already burdened and struggling tourism sector.  

Meanwhile, the World Health Organisation recommended nations remove travel bans last week. It argues they “do not provide added value and continue to contribute to the economic and social stress” during Omicron outbreaks.

Webjet share price snapshot  

Right now, the Webjet share price is flat with its final close of 2021.

Though, it is 2.5% higher than it was this time last year.

The post Could the Webjet (ASX:WEB) share price be about to get a boost? appeared first on The Motley Fool Australia.

More reading

• These are the 10 most shorted ASX shares
• Is February 2022 the time to buy these 2 beaten-up ASX shares?
• Are Virgin Australia shares set to rejoin the ASX soon?
• What might the WA border closure mean for the Webjet (ASX:WEB) share price?
• These are the 10 most shorted ASX shares

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Webjet 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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Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.

Three ASX shares brokers have named as buys this week are listed below. Here’s why they are bullish on them:

ARB Corporation Limited (ASX: ARB)

According to a note out of Citi, its analysts have retained their buy rating and lifted their price target on this 4×4 parts manufacturer’s shares to $57.00. This follows the release of its first half trading update which outperformed Citi’s estimates. Looking ahead, the broker is positive on ARB’s medium term outlook. It notes that the company has significant medium-term growth drivers including its partnership with Ford, distribution gain opportunities in the US, and opportunities to expand in Europe. The ARB share price is trading at $46.86 this afternoon.

ELMO Software Ltd (ASX: ELO)

A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $7.80 price target on this HR technology company’s shares. This follows the release of a first half trading update which revealed a strong rebound in demand for its offering. In addition, the broker was pleased to see ELMO’s cash burn reduce and its recurring revenue guidance increased. The ELMO share price is fetching $4.19 today.

Pilbara Minerals Ltd (ASX: PLS)

Analysts at Macquarie have retained their outperform rating and $3.70 price target on this lithium miner’s shares. Pilbara Minerals fell short of Macquarie’s production expectations during the second quarter due largely to labour shortages. As a result, it suspects a guidance downgrade is coming with its half year results. However, this is only expected to be temporary. Furthermore, offsetting this bad news was higher lithium price expectations for the second half. The Pilbara Minerals share price is trading at $3.41 today.

The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

More reading

• Here are the 3 most heavily traded ASX 200 shares this Tuesday
• Leading brokers name 3 ASX shares to sell today
• Here’s why the Elmo (ASX:ELO) share price is surging 9% today
• ASX lithium shares in focus amid potential supply squeeze
• ARB Corporation (ASX:ARB) share price goes into overdrive, up 9% on revenue surge

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. owns and has recommended Elmo Software. The Motley Fool Australia owns and has recommended Elmo Software. The Motley Fool Australia has recommended ARB Corporation Limited. 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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Key points

• Almost every Australian has some awareness of crypto
• At least 25% of Aussies trust digital currencies 
• 40% expect to own crypto in the next 5 years

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2022 hasn’t been off to the greatest start for crypto investors.

The world’s top crypto by market cap, Bitcoin (CRYPTO: BTC) is down 20% since 1 January. The Bitcoin price currently stands at US$38,231 (AU$54,466).

Ethereum (CRYPTO: ETH) has been doing it even tougher. The Ethereum price is currently at US$2,685. That’s down 29% so far in 2022.

But according to a new survey commissioned by Australian cryptocurrency exchange CoinSpot, that’s unlikely to deter millions of Aussies from investing in crypto over the coming years.

What did the CoinSpot Crypto Awareness Survey reveal?

Among its key findings, the survey revealed that Australians’ awareness of crypto assets has hit 97%.

Along with increased awareness, “trust, ownership, risk appetite and legitimate investing for wealth building” all increased down under, with some strong growth witnessed among older cohorts.

While still a minority, 22% of respondents said they’d bought, sold, swapped or traded crypto over the last 4 years.

As for trust, 27% of Aussies said they trust crypto completely, “especially when it comes to navigating financial and economic concerns” and hedging against inflation. Adding to that, 42% said they think the risks of digital assets will decrease over time and that they’ll become more widely accepted.

The number of respondents saying they expect to own crypto in the next 5 years reached 43%. That figure has more than doubled since 2020, when only 20% had the same expectations.

Not just for fun anymore

Another big shift among respondents came around the question of whether they were investing for enjoyment, with 10% fewer saying this was the case than in June 2021. Since then, 8% more Aussie investors said they’re investing in crypto for business and 6% more are employing it for personal use.

Additionally, 55% said they invest with a long-term focus. And some 40% are “willing to accept moderate to high levels of financial risk” when investing in crypto.

Generation X joining in the crypto charge

Some of the biggest changes in responses since 2020 came from those belonging to Generation X.

Awareness of digital tokens (knowing a “fair bit” or a “little bit”) among this cohort increased from 34% in 2020 to 61% in the 2022 survey.

Trust among the Gen X group also increased markedly, up from 46% in 2020 to 61% today.

Commenting on the survey results, Tim Wilks, marketing executive at CoinSpot, said:

The younger generations will always be early adopters of tech, which we’ve seen in previous iterations of this report. From the data it appears as though we are reaching an inflection point in mainstream adoption when the historically more conservative/risk averse generations start to jump on board in larger numbers.

From institutional investors, private offices, corporates, to everyday Mums and Dads, the appeal and opportunity that exists with crypto is becoming better understood.

The post Aussie crypto investments tipped to soar in 2022: survey appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Bitcoin and Ethereum. The Motley Fool Australia owns and has recommended Bitcoin and Ethereum. 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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