Category: Stock Market

The Sonic Healthcare Ltd (ASX: SHL) share price has hit a 52-week high amid a rule change regarding when Aussies are eligible to get their COVID-19 booster vaccination.

Sonic says its staff perform crucial frontline roles in combating the pandemic, with its laboratories testing tens of thousands of people every day for COVID-19. In mid-November, it had performed 36 million COVID-19 PCR tests in total around the world to that date, as well as conducting COVID-19 serology testing and, in some markets, whole genome sequencing to help identify variants.

In Australia, it’s also the largest non-government COVID vaccination provider. In the middle of November 2021, it had provided more than 1 million COVID vaccinations.

COVID booster change

According to reporting by various media, such as The Guardian, the amount of time between COVID vaccinations will be reduced to four months from 4 January and then it will be reduced to three months on 31 January, based on updated advice from the Australian Technical Advisory Group on Immunisation (ATAGI).

Greg Hunt, the health minister of Australia, said the country should today pass the 2 million mark for boosters given. According to The Guardian, he said:

It’s no surprise we will be bringing forward the eligibility for the booster dose to four months as of 4 January. The planning behind that is that will open up a new cohort. Currently that means that we will go from about 3.2 million people who are eligible today to approximately 7.5 million who will be eligible as 4 January. That means that the cohort has expanded.

It will be expanded again on the 31st of January to three months and that will take it out to 16 million Australians who will be eligible at that point in time and as we have said all along, eligibility is the beginning of access, it doesn’t mean that somebody is overdue the very day they become eligible.

These dates have been set out of an abundance of caution to give Australians early continued protection and the advice we have is that the protection as it is is very strong against severe illness, but what we’ll see is a much stronger protection against transmission.

What could this mean for COVID and the Sonic share price?

However, whilst the ATAGI has approved the change in the booster dates, it said in a statement that booster vaccinations alone will not be enough to stop a huge surge of COVID-19 due to Omicron.

It said:

ATAGI expects that booster vaccination alone will not be sufficient to avert a surge due to Omicron. However, maximising booster coverage by expanding eligibility and encouraging high uptake, in combination with enhanced public health and social measures, may prevent a large surge in case numbers, hospitalisations and deaths. ATAGI also acknowledges the demands that the booster and paediatric COVID-19 vaccination programs will have on the immunisation workforce.

Sonic’s share price, profit and revenue seemingly continues to be partly impacted by the level of testing that it’s doing.

Over the last month, the Sonic share price has risen 11% as Omicron infections multiply.

In the four months to October 2021, before this surge of Omicron, Sonic’s revenue had grown 5% and earnings before interest, tax, depreciation and amortisation (EBITDA) had risen 16% as it benefits from operating leverage.

The base business, which excludes COVID-19-related services and is predominately pathology, continues to grow. It was up 6% in the first four months of FY22.

The post Sonic (ASX:SHL) share price hits 52-week high amid COVID booster change appeared first on The Motley Fool Australia.

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• Sonic Healthcare (ASX:SHL) share price struggles despite US acquisition

Motley Fool contributor Tristan Harrison 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 Sonic Healthcare 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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At lunch on Christmas Eve, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week in a very positive fashion. The benchmark index is currently up 0.6% to 7,429.1 points.

Here’s what is happening on the ASX 200 today:

AMP shares shoot higher

The AMP Ltd (ASX: AMP) share price has been a strong performer today after announcing a divestment from its private markets business, PrivateMarketsCo. AMP has entered into a binding agreement to sell its infrastructure debt platform to Ares Holdings for a total cash consideration of $428 million. The agreement follows PrivateMarketsCo’s strategic decision to focus on managing equity investments in real estate and infrastructure.

Rio Tinto to pause Serbian lithium plans

The Rio Tinto Limited (ASX: RIO) share price is pushing higher today despite reports that it will pause its Jadar project in Serbia due to community protests. Protestors have been hitting the streets to voice concerns about its environmental impact. This would be a blow for Rio Tinto given how it believes Jadar could be one of the world’s largest greenfield lithium projects.

Travel shares rise

Corporate Travel Management Ltd (ASX: CTD) and Webjet Limited (ASX: WEB) shares are rising on Friday. This appears to have been driven by news that Australians will be eligible to receive a COVID-19 booster shot four months after their second vaccine from January 4. This will be reduced to three months at the end of January. Companies benefiting from COVID-19 testing such as Sonic Healthcare Limited (ASX: SHL) are underperforming the ASX 200 on the news.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Friday has been the AMP share price with a 7% gain following its divestment announcement. The worst performer has been the Reliance Worldwide Corporation Ltd (ASX: RWC) share price with a 2% decline on no news.

The post ASX 200 (ASX:XJO) midday update: AMP shoots higher, travel shares rise appeared first on The Motley Fool Australia.

More reading

• Sonic (ASX:SHL) share price hits 52-week high amid COVID booster change
• Here’s why the AMP (ASX:AMP) share price is racing 6% higher today
• Rio Tinto share price gains despite reports $3.3b lithium project to be halted
• 2022 will be a shocker, so this is what to do: experts
• Christmas is a bumper time for travel, so why is the Webjet (ASX:WEB) share price still struggling in December?

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 Reliance Worldwide Corporation Limited. The Motley Fool Australia has recommended Corporate Travel Management Limited, Reliance Worldwide Corporation Limited, Sonic Healthcare 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 Inoviq Ltd (ASX: IIQ) share price is racing higher during early Friday afternoon. This comes after the medical diagnostics company announced it has secured a new patent for diagnosing lung cancer.

At the time of writing, Inoviq shares are up 4.21% to $1.115 apiece. In contrast, the All Ordinaries (ASX: XAO) is up 0.63% to 7,755.9 points.

Inoviq granted new patent protection

Investors are pushing Inoviq shares higher after digesting the company’s positive update.

In its release, Inoviq advised that it has been granted a patent to add to its growing portfolio. Approved by the Chinese Patent Office, the latest addition will seek to further protect Inoviq’s intellectual property.

Titled, ‘Lung Cancer Diagnosis’, the new patent explains the methods towards detecting antibodies to BARD1 peptides. This is for diagnosing lung cancer and developing an autoantibody test kit in the world’s second biggest health care market.

The new patent is set to expire on 5 February 2035.

Inoviq CEO, Dr Leearne Hinch commented:

This patent enforces intellectual property protection in China for a potential BARD1-Lung cancer test that detects autoantibodies associated with lung cancer. Patent family PCT/EP2014/073834 now has seven granted patents in Australia, China, Israel, Japan, Korea, Singapore and the USA.

Quick take on Inoviq

Formerly known as BARD1 Life Sciences, Inoviq is an Australian-based medical diagnostics company that is focused on developing and commercialising non-invasive diagnostic tests for early detection of cancer.

The company’s proprietary technology platform is based on novel tumour markers with potential diagnostic and therapeutic applications across multiple cancers. The pipeline includes two development-stage autoantibody tests for early detection of lung and ovarian cancers.

Inoviq is headquartered in Perth, Australia, and has contract research laboratories at the University of Geneva, Switzerland.

Inoviq share price summary

In the past 12 months, Inoviq shares have accelerated to more than 60%. However, year-to-date performance has further jumped to post a gain above 66%.

Based on valuation metrics, Inoviq presides a market capitalisation of roughly $102.60 million, with approximately 92.02 million shares outstanding.

The post What’s going on with the Inoviq (ASX:IIQ) share price today? appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras 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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The Universal Biosensors Inc (ASX: UBI) share price is in the green after the company announced a licensing deal to commercialise a new rapid COVID-19 test.

Shares in the biotech are swapping hands for 89 cents at the time of writing, up 0.57%. Shortly after the market open, the share price jumped to an intraday high thus far of 94 cents. This is 6.8% higher than yesterday’s close.

Let’s take a look at the news driving positive investor sentiment today.

What is impacting the Universal Biosensors share price?

Universal Biosensors informed ASX investors that it has signed a deal with IQ Science Limited. The deal will commercialise a new rapid COVID-19 test.

The SARS-CoV-2 N-protein detection test will use the company’s electrochemical strip and device technology.

Initial internal validation work found the COVID-19 test can detect the virus within just 30 seconds.

Universal Biosensors has been working with IQ Science founder Dr Shalen Kumar on the technology for 6 months.

The licensing agreement is globally exclusive. Commercialisation fees will be paid either after the test gains regulatory approval, or when the test generates $1 million in sales.

Universal Biosensors will manage funding for the project and gaining all the regulatory approvals required to commercialise the test. If the test is not taken to the market within the next 5 years, the licence will become non-exclusive.

Management comment

Commenting on the COVID-19 test agreement, Universal Biosensors CEO John Sharman said:

The deal with IQ Science is an important breakthrough for UBI since it will be the first time our platform will use aptamers as a detection technique.

Aptamers are a next generation biorecognition element which when combined with our existing technology platform should allow us to detect and measure a large number of targets.

Based on what we know is available in the world today, a COVID-19 Test offering an accurate result within 30 seconds of the patient sample will be the first of its kind globally.

Universal Biosensors share price snapshot

The Universal Biosensors share price has surged by roughly 106% in the past 12 months. For perspective, the S&P/ASX 200 Index (ASX: XJO) is up by more than 11% over the same period.

The company has a market capitalisation of roughly $159 million based on its current share price.

The post Universal Biosensors (ASX:UBI) share price up on “global first” 30-second COVID-19 test appeared first on The Motley Fool Australia.

More reading

• What’s going on with the Inoviq (ASX:IIQ) share price today?
• Why is the OncoSil Medical (ASX:OSL) share price surging 18% today?
• Brokers name 3 ASX shares to buy today
• Here’s why the AMP (ASX:AMP) share price is racing 6% higher today
• Rio Tinto share price gains despite reports $3.3b lithium project to be halted

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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The OncoSil Medical Ltd (ASX: OSL) share price is soaring higher on Friday after the company announced the publication of the PanCO clinical study’s final results.

The study confirmed the company’s OncoSil device can be safely and successfully used alongside chemotherapy to treat unresectable locally advanced pancreatic cancer.

At the time of writing, the OncoSil share price is 4.6 cents, 17.95% higher than its previous close.

Let’s take a closer look at today’s news from the medical device company.

OncoSil share price leaps higher on study results

The OncoSil share price is surging on the results of the PanCO clinical study, conducted in Australia, Belgium, and the United Kingdom.

The company’s OncoSil device delivers beta radiation to cancerous tissue.

The study found it controlled advanced pancreatic cancer at the 16-week point in 90.5% of patients. On top of that, 31% of the study’s participants achieved a disease control rate of 100%.

Finally, despite the recruited patients having had their cancers defined as unresectable (unable to be removed completely through surgery) by pancreatic cancer experts, 23.8% had surgery with the intent to cure their cancer after being treated with chemotherapy plus OncoSil.

The company also notes more patients found their cancer was resectable following the study but chose not to receive surgery.

The device was also found to not cause adverse events related to radiation.

The paper resulting from the study has been published in ESMO Open. ESMO Open is the European Society for Medical Oncology’s peer-reviewed open-access journal.

Speaking on the results of the study fuelling the OncoSil share price, its principal investigator Dr Paul Ross commented:

The results of this important clinical study provide evidence that OncoSil can address a significant unmet clinical need in patients with unresectable locally advanced pancreatic cancer. The results clearly show an acceptable safety profile and encouraging clinical benefits for patients.

OncoSil’s CEO and managing director Nigel Lange also commented on the news, saying:

We are very encouraged by the published results of the PanCO study… We will be sharing this clinical evidence with gastroenterologists, oncologists, and nuclear medicine physicians to make this novel treatment more widely available to patients.

Despite today’s uptick, the OncoSil share price is still down 61% year to date. Though, it has gained 2.2% over the last 30 days.

The post Why is the OncoSil Medical (ASX:OSL) share price surging 18% today? appeared first on The Motley Fool Australia.

More reading

• What’s going on with the Inoviq (ASX:IIQ) share price today?
• Universal Biosensors (ASX:UBI) share price up on “global first” 30-second COVID-19 test
• Brokers name 3 ASX shares to buy today
• Here’s why the AMP (ASX:AMP) share price is racing 6% higher today
• Rio Tinto share price gains despite reports $3.3b lithium project to be halted

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 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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While a lot of analysts have now finished the holidays, a few are still working hard this week and have updated their recommendations on several ASX shares.

Listed below are three ASX shares that brokers have named as buys this week:

Booktopia Group Ltd (ASX: BKG)

According to a note out of Morgans, its analysts have retained their add rating but slashed their price target on this online book retailer’s shares to $2.78. This follows the release of a trading update which revealed guidance well short of Morgans’ estimates. This has led to the broker taking an axe to its earnings estimates for the coming years. However, it still sees enough value in Booktopia’s shares at the current level to recommend it as a buy. Particularly given its positive long term outlook due to market share gains and distribution centre automation. The Booktopia share price is trading at $1.40 on Friday.

Charter Hall Social Infrastructure REIT (ASX: CQE)

A note out of Goldman Sachs reveals that its analysts have retained their conviction buy rating and lifted their price target on this social infrastructure-focused property company’s shares to $4.13. This follows the announcement of two new childcare portfolio acquisitions for $134.3 million and an increase to its distribution guidance for FY 2022 to 17.2 cents per share. Goldman believes the acquisitions solidify its view that the company is positioned for a solid growth outlook given its strong balance sheet with headroom and liquidity to pursue investment opportunities. The Charter Hall Social Infrastructure share price is fetching $4.00 today.

Siteminder Ltd (ASX: SDR)

Analysts at UBS have initiated coverage on this hotel commerce platform provider’s shares with a buy rating and $7.45 price target. UBS likes Siteminder due to its significant opportunity in a large and extremely fragmented market. It also notes that a good portion of its addressable market is still using manual processes and could benefit from switching to Siteminder’s platform. The Siteminder share price is trading at $6.91 today.

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

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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 SiteMinder Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Booktopia Group Limited. 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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The AMP Ltd (ASX: AMP) share price is on the rise this morning. This comes amid the financial services company announcing a divestment from its private markets business, PrivateMarketsCo.

At the time of writing, AMP shares are fetching 99.5 cents apiece, up 5.85%. This means its shares have now leaped almost 10% higher in the past week.

PrivateMarketsCo sells infrastructure debt platform

Investors are driving up the AMP share price following the company’s latest statement to the ASX today.

In its release, AMP advised that PrivateMarketsCo entered into a binding agreement to sell its infrastructure debt platform to Ares Holdings LP, a subsidiary of Ares Management Corporation.

The agreement follows PrivateMarketsCo’s strategic decision to focus on managing equity investments in real estate and infrastructure. In addition, this will simplify the business structure and enable the company to fuel growth from the transaction.

In total, Ares Holdings will pay PrivateMarketsCo a total cash consideration of $428 million for the infrastructure debt platform.

An incentivised $150 million of sponsor investments and rights to carried interest in closed infrastructure debt funds is available. This is provided performance hurdles are met by their due date.

The cash proceeds from the sale will be used to strengthen the capital position of the AMP group.

Separation of the balance sheet and allocations of surplus capital between AMP Limited and PrivateMarketsCo is continuing as part of the demerger preparations.

The demerger remains on track to complete late in the first half of 2022.

Commenting on the news driving the AMP share price, PrivateMarketsCo chief executive Shawn Johnson said:

This transaction provides strong outcomes for both our Infrastructure Debt clients and our shareholders. Infrastructure Debt will further accelerate its growth as part of Ares’ global alternative investment platform, benefitting the clients who have supported it through its early stages under our ownership.

PrivateMarketsCo and AMP will realise significant value from the divestment, as well as retaining our valuable sponsor investments and carried interest in the closed Infrastructure Debt funds. This will provide a strong revenue stream in coming years as we demerge PrivateMarketsCo and accelerate the momentum in our business.

AMP share price snapshot

Over the last 12 months, the AMP share price has tracked almost 40% lower, with year-to-date down by more than 35%. The company’s shares hit a multi-decade low of 88.5 cents in September 2021, before moving in circles.

In contrast, the S&P/ASX 200 Financials Index (ASX: XFJ) has gained 18% from this time last year and is up 20% year-to-date. The sector also registered a 52-week high of 6,956.4 points in late October.

Undoubtedly, AMP shares are lagging behind the Financial Index which has continued to accelerate since March 2020.

Based on today’s price, AMP commands a market capitalisation of roughly $3.27 billion, with approximately 3.27 billion shares on issue.

The post Here’s why the AMP (ASX:AMP) share price is racing 6% higher today appeared first on The Motley Fool Australia.

More reading

• AMP (ASX:AMP) share price slides amid NZ delisting news
• What’s the outlook for the AMP (ASX:AMP) share price in 2022?
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Motley Fool contributor Aaron Teboneras 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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The Rio Tinto Limited (ASX: RIO) share price is in the green this morning despite reports one of its major lithium projects could soon be paused due to community protests.

The Jadar project, located in Serbia, has been the focus of intense debate within the European country, with protestors hitting the streets to voice concerns about its environmental impact.

Jadar’s development plans were reportedly suspended by the local government last week. Now, Rio will have to interrupt the project’s momentum to host public dialogue over the mine.

At the time of writing, the Rio Tinto share price is $100.23, 1.02% higher than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is also up today, having gained 0.65% in early morning trading.

A quick note before we start: All quotes have been translated from Serbian.

Rio Tinto share price maintains positive trajectory

The managing director of Rio Tinto’s Serbian subsidiary, Vesna Prodanović, has reportedly told the local media outlet, Beta that the company will be stopping works to “acquaint residents with all aspects of our project and answer all questions”.

Fortunately for investors, the Rio Tinto share price remains on a positive trajectory today and is up 2.87% so far this week.

However, this delay could be detrimental to the company’s push into lithium. According to Rio Tinto, the Jadar project is one of the world’s largest greenfield lithium projects.

Rio plans to use the minerals from Jadar to create batteries for electric vehicles and renewable energy storage.

In a recent investment seminar, Rio Tinto stated it expects the first production of lithium from Jadar to occur in 2026. Though, that’s dependant on receiving final permits and approvals from Serbian stakeholders.

Prodanović told the publication that, so far, only a memorandum of understanding has been signed for the project.

Jadar’s target production is up to 58,000 tonnes of battery-grade lithium carbonate, 2.16 million tonnes of boric acid, and 255,000 tonnes of sodium sulphate each year.

Rio Tinto management commentary

Discussing the pause at Jadar, Beta quoted Prodanović as saying:

It is extremely difficult in such an intense anti-mining and negative campaign to have a reasonable debate on any topic.

Prodanović reportedly told Beta that the company has been buying land for the project since August 2020. It supposedly had to do so to obtain building permits.

It’s the second time news of Rio Tinto’s lithium push has made headlines this week. On Wednesday, Rio Tinto announced a $1.15 billion acquisition of the Argentinian Rincon lithium project.

Over the year to date, the Rio Tinto share price has fallen 13%.

The post Rio Tinto share price gains despite reports $3.3b lithium project to be halted appeared first on The Motley Fool Australia.

More reading

• Brokers name 3 ASX shares to buy today
• ASX 200 (ASX:XJO) midday update: Medibank and NIB rise, Bega sinks
• Is Rio Tinto (ASX:RIO) paying too much for the Rincon lithium project?
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• ASX 200 (ASX:XJO) midday update: Rio Tinto’s lithium acquisition, Pilbara Minerals jumps

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 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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There are a certain number of ASX shares that are compelling options for 2022.

Some businesses are expecting a lot of growth in the coming years and they have growth strategies to do what they can to fulfil that potential.

Management are focused on initiatives that can drive the businesses higher. Here are two leading opportunities:

Pushpay Holdings Ltd (ASX: PPH)

Pushpay is a leading ASX tech share. It is a electronic payment business that facilitates billions of (US) dollars of donations to large and medium US churches.

The business continues to see improvement in various metrics. In the first half of FY22, total processing volume increased 9% to US$3.5 billion, revenue grew 9% to US$93.5 million, the gross profit margin increased from 68% to 69% and the net profit after tax (NPAT) surged 43% to US$19.1 million.

Pushpay is working on developing the functionality of its suite of solutions to serve the Catholic segment of the market. It’s expecting the benefits from the Catholic segment to be realised over the course of the following years. It’s targeting acquiring more than 25% of Catholic church management system and donor management system market over the next five years.

The company continues to look for acquisition opportunities that can improve the business. It has previously bought Church Community Builder and Resi Media, which has improved its church management tools and livestreaming capabilities.

Over the last two months, the Pushpay share price has fallen more than 25%. According to Commsec, it’s now valued at 24x FY23’s estimated earnings.

Pinnacle Investment Management Group Ltd (ASX: PNI)

Pinnacle is an ASX share that makes investments in high-quality investment management businesses and helps them grow.

For the fund managers, Pinnacle can provide a number of benefits including seeding funds under management (FUM) and working capital, distribution and client services, middle office and fund administration, technology and other infrastructure. Compliance, finance and legal services are also provided.

All of that is offered so that the investment professionals can focus on the investing, not any of the other back-office tasks.

It’s investing in a number of fund managers like Hyperion, Plato, Solaris, Spheria, and Firetrail.

The company continues to expand its portfolio as well as seeing organic growth. It recently invested in the private equity investment manager Five V which provides attractive economics.

As at 31 October 2021, its aggregate affiliate FUM had grown another 1.7% to $89.4 billion, or 6.3% over the four months to 31 October 2021 excluding the $3.9 billion outflow of the Omega passive mandate which only made “very modest” fees. Aggregate retail FUM increased by 13.3% to $23 billion.

In FY22, it’s expecting growth. The FUM at the last update was more than 30% ahead of FY21’s average FUM.

Pinnacle has said it’s committed to taking advantage of the “significant” offshore opportunity by evolving into a global multi-affiliate platform.

It has partnered with Greg Dean, the former principal manager at Cambridge Global Asset Management, to launch its first North American affiliate, based in Toronto, Canada.

According to Commsec, the Pinnacle share price is valued at 29x FY23’s estimated earnings.

The post 2 very compelling ASX shares for 2022 appeared first on The Motley Fool Australia.

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• Down 10% in a week, is the Pinnacle share price an obvious buy?

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended PINNACLE FPO and PUSHPAY FPO NZX. The Motley Fool Australia owns and has recommended PINNACLE FPO and PUSHPAY FPO NZX. 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 have a penchant for investing in small cap shares, then you might want to look at the two listed below.

Here’s why these are highly rated by analysts right now:

MoneyMe Ltd (ASX: MME)

The first small cap ASX share to watch is MoneyMe. It is a fintech that uses technology and artificial intelligence to deliver highly automated credit products and customer experiences.

MoneyMe notes that it originates loans through a diversified mix of credit products and distribution channels to create significant scale and long-term customer advantages. This will soon include the SocietyOne business, which MoneyMe recently signed an agreement to acquire for $132 million.

In response to the acquisition, Morgans retained its add rating and lifted its price target to $2.57.

Morgans commented: “The acquisition seems a good strategic fit, in our view, with MME adding significant scale to its already rapidly growing business. From FY24, A$17m in pre-tax cost synergies and greater than A$15m in revenue synergies are expected. We have the transaction as cash EPS accretive post synergies and integration costs from FY24 (~6% – ex Revenue synergies).”

“Whilst not without integration risk, the deal should allow MME to continue to deliver strong book growth as it penetrates this additional customer base and utilises new distribution/marketing channels,” it added.

Nitro Software Ltd (ASX: NTO)

Another small cap ASX share to look at is Nitro Software. It is a global document productivity software company aiming to drive digital transformation in organisations across multiple industries globally.

Nitro’s core solution is the Nitro Productivity Suite. It provides integrated PDF productivity and eSignature tools to customers through a horizontal, software as a service and desktop-based software suite.

Bell Potter is very positive on the company, particularly given its recent “game-changing” acquisition of Connective NV for ~US$81 million.

The broker commented: “The rationale for the acquisition is it will accelerate and enhance Nitro’s eSign, eID (electronic identity) and document workflow capabilities. It will also position Nitro to become the third global player in the enterprise eSign market along with DocuSign and Adobe.”

Bell Potter currently has a buy rating and $4.50 price target on the company’s shares. This compares favourably to the latest Nitro share price of $2.40.

The post Analysts say these small cap ASX shares could be going places in 2022 appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Nitro Software 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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