Category: Stock Market

The Pointsbet Holdings Ltd (ASX: PBH) share price is falling after the company released its FY21 results this morning.

At the time of writing, Pointsbet shares are changing hands for $10.12 apiece, down 0.88% on the day. They have clawed back some ground after falling as low as $9.85 in early trade.

The sports betting business delivered triple-digit top-line growth but its net losses continued to balloon. Some key highlights for FY21 include:

• Betting turnover up 228% to $3,781.4 million;
• Active Australian clients up 117% to 196,585;
• Active US clients up 661% to 159,321;
• Revenue increased by 158% to $194.7 million;
• Sales and marketing expense surged 382% to $170.7 million;
• Net loss of $164.3 million (FY20: loss of $39.7 million).

Despite trading around 12-month lows of $10.00, Pointsbet is eyeing a number of growth opportunities to capture the emerging US sports betting market and maintain its growth trajectory.

What’s next for Pointsbet and its share price?

Continued momentum in Australia

Pointsbet Australia could be viewed as a solid standalone business, posting a 121% increase in net revenue and annual earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $9.2 million.

Pointsbet managing director and group CEO Sam Swanell described the result as one that “demonstrates Pointsbet’s capability to disrupt and grow market share in an advanced market where we compete successfully against global groups such as Flutter, Entertainment, and Bet365.”

Overall, Pointsbet aims to grow online Australian market share to 10% by 2025. However, this positive outlook wasn’t enough to help the Pointsbet share price today.

Capture North American growth opportunity

The United States is a focal point for the company’s growth story. Pointsbet said its goal is to achieve a 10% market share across all the states that it enters.

Pointsbet currently operates in 6 states including Illinois, Michigan, New Jersey, Indiana, Colorado, and Iowa. According to its results, the company holds a market share of between 7.8% and 3.1% across the 6 states.

Looking ahead, Pointsbet cites a strong pipeline of market access and launches in FY22. The company expects to launch in 11 US states and Ontario, Canada by the end of calendar year 2022.

In addition to sports betting, the company is also targeting the US iGaming market, following its inaugural launch in Michigan.

Between 5 May to 30 June, Michigan’s iGaming segment delivered a net win of A$1.5 million.

After successful launches in Michigan and New Jersey, Pointsbet is targeting launches in West Virginia, Pennsylvania, and Ontario, Canada in FY22.

Pointsbet share price snapshot

The Pointsbet share price is back to where it was a year ago, when the company announced a transformational marketing deal with NBCUniversal.

From a year-to-date perspective, the company’s shares are down about 12%.

The post Pointsbet (ASX:PBH) share price slumps on FY21 results. What’s next? appeared first on The Motley Fool Australia.

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• Pointsbet (ASX:PBH) share price slips following denied betting licence

Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Pointsbet Holdings Ltd. The Motley Fool Australia has recommended 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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The Healius Ltd (ASX: HLS) share price has bolted more than 5% in today’s trading session.

Shares in the healthcare company have rallied strongly after being sold-off yesterday after releasing its full-year results for FY21.

Let’s take a look at why investors are bidding the Healius share price higher today.

Helius share price recovers from FY21 report

The Healius share price has managed to bounce strongly today, after being sold-off yesterday.

Shares in the healthcare giant tanked more than 7% yesterday after releasing its full-year results for FY21.

Investors were quick to dump their shares in Healius, despite the company reporting a 22% increase in revenue of $1,913.1 million for FY21.

Other highlights from the company’s full-year report included;

• Underlying earnings before interest and tax (EBIT) jumped 106% to $266.5 million
• Net profit after tax up 179% to $148.4 million
• Operating cash flow tripled to $912.8 million
• Full year dividend of 13.25 cents, up from 2.6 cents in FY 2020

The company’s pathology segment was a standout performer, with revenue in the sector growing 25% to $1,452.1 million for the financial year.

Healius attributed strong demand for community and commercial COVID-19 testing as the key driver of growth.  

In its full-year report, Healius highlighted that the company had processed 5.75 million tests to date.

Healius to increase COVID-19 testing capacity

With the Delta outbreak surging to new levels, pathology operators like Healius could see a renewed boom in demand.

The company’s CEO Malcolm Parmenter recently cited these intentions in an article published by the Sydney Morning Herald.

Healius acknowledged that the company has processed approximately 40,000 of NSW’ tests each day during July and August.

With the Delta outbreak surging in NSW and Victoria, Healius noted that more tests and a greater processing capacity would be required.

Snapshot of the Healius share price

Shares in Healius have had a stellar year thus far.

Despite yesterday’s sell-off, shares in the healthcare company remain more than 31% higher since the start of 2021.

At the time of writing, the Healius share price is nudging its intra-day high of $4.93 to be more than 5% higher for the day.

The post Here’s why the Healius (ASX:HLS) share price is storming 5% higher today appeared first on The Motley Fool Australia.

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• The latest ASX shares to be hit by a broker downgrade
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• Healius (ASX:HLS) share price sinks 10% despite 179% profit surge in FY21
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• Healius (ASX:HLS) could be a potential takeover target – Expert

Motley Fool contributor Nikhil Gangaram 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 two ASX growth shares in this article could be considered as options for potential long-term returns.

Businesses that are growing revenue quickly may also be able to grow profit quicker because they’re rapidly expanding in size. Investors like to focus on profit growth as a key statistic to consider where to value the share price.

These two ASX growth shares are growing quickly and might be worth thinking about:

Airtasker Ltd (ASX: ART)

Airtasker is a leading online marketplace for local services, connecting people and businesses who need work done with people who want to work.

It’s currently rated as a buy by the broker Morgans which has a price target on the business of $1.30. Morgans said the FY21 result was better than expected and the fact it was able to deliver what it has despite lockdowns shows that the business is getting stronger.

Airtasker reported that in FY21 its revenue increased by 38% year on year to $26.6 million, which was ahead of the prospectus forecast of $24.5 million.

The revenue is driven by gross marketplace volume (GMV) of $153.1 million, with growth of 35% year on year. This beat the prospect forecast of $143.7 million. UK marketplace GMV saw 232% year on year on year growth and 93% growth quarter on quarter.

The ASX growth share is looking to expand in the US. It decided to acquire Zaarly to accelerate American growth, which is currently going through an integration process.

The rapid growth of the business is also helping its profitability metrics. It generated underlying pro forma earnings before interest, tax, depreciation and amortisation (EBITDA) of $0.0 million, compared to a loss of $4 million in FY20. Airtasker also made $5.5 million of positive operating cashflow, which was ahead of the prospectus forecast of $0.1 million.

The company said that it’s well positioned to benefit from its capital light model with a gross profit margin of more than 93%.

Baby Bunting Group Ltd (ASX: BBN)

Baby Bunting is a retailer of baby product items like prams, toys and clothes. It’s rated as a buy by the broker Morgan Stanley with a price target of $6.90.

The broker said that the market may not have liked the decline of store sales at the start of FY22 because of COVID-19 effects. Morgan Stanley believes there will be a turnaround with projected positive same store sales growth of 5% in FY22.

In FY21, Baby Bunting reported that its total sales went up 15.6% to $468.4 million. Online sales soared 54.2%, making up almost a fifth of total sales.

Operating leverage and efficiencies saw the ASX growth share’s profit margins go in the right direction. The FY21 gross profit margin increased by 83 points to 37.1% with the cost of doing business (CODB) improving 14 basis points to 27.8%.

It was those improvements that helped pro forma EBITDA climb 29.2% to $43.5 million. Pro forma net profit increased 34.8% to $26 million.

Baby Bunting grew the full year dividend by 34.1% to 14.1 cents.

But, as Morgan Stanley pointed out, lockdowns had caused comparable store sales in the financial year to date (to 12 August 2021) to fall by 6.4%. It’s expecting to open three new stores in the first half of FY22, with a “strong” pipeline of leases committed for the second half of FY22, plus two in New Zealand.

According to Morgan Stanley, the Baby Bunting share price is valued at 23x FY22’s estimated earnings.

The post 2 ASX growth shares that could be buys in September 2021 appeared first on The Motley Fool Australia.

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• 2 top ASX growth shares that could be buys

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 recommended Airtasker Limited. The Motley Fool Australia has recommended Baby Bunting. 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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August has been a stellar month for the Macquarie Group Ltd (ASX: MQG) share price.

Whereas the S&P/ASX 200 index (ASX: XJO) has climbed 1.9% over the last month, Macquarie shares are 6.3% in the green.

Let’s investigate why.

What’s behind the Macquarie Group share price in August?

The Macquarie Group share price began August exchanging hands at $157.80 apiece, a touch above the low for the month of $155.61.

Macquarie shares immediately jumped from 4 August after broker Morgans released a positive note on Australia’s largest investment bank.

Morgans likes Macquarie’s exposure to infrastructure and renewables, despite its posture on near-term headwinds for the company. Morgans reiterated its add rating and assigned a $172.30 price target for the Macquarie Group share price.

Macquarie shares gained over $4 per share in the week after the broker note became public to just shy of $160.

Then, on 11 August, Macquarie’s bank capital note offering (BCN3) opened to investors, where the company sought to raise a further $500 million as a liquidity buffer.

As my colleague Mitchell reported at the time, the coupon rate on these notes sits at 2.9% per annum, meaning the bank gets to beef up its balance sheet at a manageable interest rate. Macquarie shares climbed a further 3% in the days following the debt offering.

Since mid-August, the Macquarie Group share price has continued its ascent northwards. Although, there has been no major company-specific catalyst to link to this.

However, ASX-listed bank shares have posted solid gains over the past few weeks, particularly on the back of Commonwealth Bank of Australia‘s (ASX: CBA) strong FY21 earnings.

In its report, CBA announced a $6 billion share repurchase program, a significant increase in its dividend and robust growth in profits.

As a result, the basket of ASX-listed bank shares have had a strong few weeks on the charts, and Macquarie is no exception to the rule here.

There haven’t been other market sensitive information released specific to the company. Therefore, it stands to reason that investors are buying Macquarie shares on the back of this positive sentiment.

Macquarie Group share price snapshot

Macquarie shares are exchanging hands at $166.76 apiece at the time of writing, a 0.5% gain on the day.

The Macquarie Group share price has posted a year to date return of 20%, extending the previous 12 month’s gain of 31%.

These results have outpaced the broad index’s return of around 25% over the past year.

The post August has been a great month for the Macquarie (ASX:MQG) share price appeared first on The Motley Fool Australia.

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The author Zach Bristow has no positions 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 owns shares of and has recommended Macquarie Group 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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

It’s a question every investor faces each time a portfolio’s idle cash is ready to be put to work. Is it smarter to seek safety in numbers and step into a broad market index fund like the Invesco QQQ Trust (NASDAQ: QQQ), which mirrors the performance of the Nasdaq 100 index? Or, can taking a swing on an individual stock be justified given that stock’s current price and risk/reward profile?

Somehow, though — with the Nasdaq Composite (NASDAQINDEX: ^IXIC) deep into record-high territory (and still moving deeper) on the heels of a 120% run-up from lows reached in March of last year — the question seems even trickier now. Adding to this uncertainty is the fact that some of the names that led most of the rally are starting to falter.

Amazon (NASDAQ: AMZN) stock, for instance, is down 11% from its July highs, with most of that loss being the market’s response to the company’s second-quarter revenue shortfall. Facebook (NASDAQ: FB) is another unlikely laggard that could infect other key technology names. Its stock is within sight of record-high levels, bouncing back from its post-earnings setback marred by a disappointing growth outlook. It wouldn’t take much for traders to extrapolate these themes and apply them to other names.

But if you’re itching to make a stock purchase sooner than later, this is a scenario where the recent weakness from Amazon makes it a better opportunity than something broad-based (and overbought) like the Nasdaq itself.

Why not the Nasdaq Composite?

Don’t misread the message. Five years from now, buying into the Nasdaq now versus buying into it two months ago or two months from now won’t matter … much.

Still, there are a couple of concerns that just might reward patience before making a purchase. One of these impasses is timing.

While watching a calendar isn’t necessarily the best use of an investor’s time; it would be a bit short-sighted to look past the fact that the upcoming month of September is typically a lackluster one for the market. Data from Yardeni Research indicates that between 1928 and last year, the S&P 500 index (SNPINDEX: ^GSPC) has averaged a loss of 1% in September — the worst-performing month of the 12. Perhaps more amazing is the fact that September is the only month of that 92-year span that’s seen more losses than wins; the bears are winning 50 to 42. The Nasdaq Composite isn’t the S&P 500, but the two indices are in the same boat, largely working with the same stocks. The fact that we’re entering this year’s September so far ahead of where we’d normally be only bolsters the near-term bearish argument.

The other worry is a bit more nuanced, but also quite obvious. That is, the delta variant of COVID-19 is spreading rapidly at the same time that all the recent stimulus-driven earnings growth is starting to level off. The aforementioned Facebook is one of the many companies to acknowledge this reality, with CFO David Wehner cautioning during last month’s Q2 earnings call, ” … we expect year-over-year total revenue growth rates to decelerate significantly on a sequential basis as we lap periods of increasingly strong growth.”

Facebook isn’t the only outfit facing the same headwind.

So far, the market has escaped any real trouble stemming from this slowdown. But the potential for a pullback is still there.

Why Amazon?

The knee-jerk response to Amazon’s second-quarter revenue miss is understandable, but perhaps overdone. Operating cash flow improved 16% year over year for the three-month stretch ending in June on the heels of a 27% increase in profits of $15.12 per share. This was still a far better figure than the $10.30 per share reported for the same quarter a year earlier. Forecasted sales growth of between 10% and 16% for the quarter currently underway marks a clear slowdown.

But consider the circumstances. In the third quarter of last year, online shopping in many ways was the only real shopping option for many. It’s a tough comp! This is still Amazon, which was growing well before the pandemic took hold, and will continue to grow even when the coronavirus is put into the rearview mirror. Investors don’t care — or at least didn’t seem to care in early August when they were still selling the stock in earnest, driving it more than 15% lower from peak to trough.

Arguably the even better reason to scoop up some Amazon shares while they’re still priced 10% below last month’s highs, however, is the fact that it’s one of the few names that’s not only mostly immune to the impact of a resurging pandemic, but is likely a beneficiary of a rekindled spread of COVID-19.

It also doesn’t hurt the bullish case to point out that roughly half of the company’s operating income produced through the first half of this year came from Amazon Web Services, which is also well-shielded from any impact of the pandemic.

Bottom line

Admittedly, it’s not a terribly sophisticated comparison of two investment options. A comparison, however, doesn’t have to be complicated to be correct. Sometimes the simplest approaches are the most effective.

And if for some reason you just can’t learn to love Amazon or are still highly committed to index-based investing, that’s OK too. As was already said, five years from now the entry point into either trade here won’t matter too much either way. 

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

The post Better buy: Amazon or every Nasdaq stock? appeared first on The Motley Fool Australia.

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James Brumley has no position in any of the stocks mentioned. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Amazon and Facebook. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2022 $1,920 calls on Amazon and short January 2022 $1,940 calls on Amazon. The Motley Fool Australia has recommended Amazon and Facebook. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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

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It has been another positive day for the S&P/ASX 200 Index (ASX: XJO). In afternoon trade, the benchmark index is up 0.4% to 7,536.5 points.

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

Bubs Australia Ltd (ASX: BUB)

The Bubs share price is down 5% to 40 cents. This follows the release of another disappointing full year result. For the 12 months ended 30 June, the struggling infant formula company reported a loss after tax of $74.7 million. This follows a sharp decline in sales, weaker margins, and a $44.6 million non-cash impairment. Bubs was left with a cash balance of $27.9 million, which management believes is sufficient to fund its FY 2022 growth plans.

Harvey Norman Holdings Limited (ASX: HVN)

The Harvey Norman share price is down 3% to $5.38. This is despite the retail giant delivering a record profit in FY 2021. For the 12 months ended 30 June, Harvey Norman posted a 15.3% increase in total aggregated sales to $9,491 million and a 63% jump in profit after tax to a record $743.1 million. Overshadowing this was news that sales were down sharply in July and August due to lockdowns.

Mesoblast limited (ASX: MSB)

The Mesoblast share price has crashed 14% to $1.69. Investors have been selling the biotech company’s shares following the release of its full year results. Mesoblast burned through more cash in FY 2021, ending the period with a loss after tax of US$99 million. However, the biggest impact to its share price was likely news that it will have to run another COVID ARDS trial in the US before being considered for emergency use. This will come at a cost, sparking fears that another capital raising will be required.

Regis Resources Limited (ASX: RRL)

The Regis Resources share price is down 3.5% to $2.47. Investors have been selling the gold miner’s shares after it reported a 27% decline in net profit after tax to $146 million in FY 2021. This was driven by an increase in costs, which offset stronger production and pricing.

The post Why Bubs, Harvey Norman, Mesoblast, & Regis shares are dropping 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 BUBS AUST FPO and Harvey Norman 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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The PPK Group Limited (ASX: PPK) share price has been soaring lately despite unresolved issues with its spin-off of Li-S Energy.

PPK originally planned to have lithium-sulphur chemistry battery creator, Li-S Energy, off its hands and onto the ASX yesterday. However, it has been faced with a number of delays.

Despite the drama, PPK’s shares have gained 52.09% since this time last month, including today’s 6.65% increase. Right now, shares in the investment group are trading for $20.06 apiece.

Let’s take a closer look at Li-S Energy’s initial public offering (IPO).

Li-S Energy struggles to list

The PPK share price is outperforming despite setbacks facing Li-S Energy’s listing.

PPK, along with Deakin University, founded Li-S Energy in 2019. Now, PPK is listing Li-S Energy on the ASX, under the ticker LIS.

When the company announced the spin-off, the PPK share price gained 1%.

Under Li-S Energy’s prospectus, investors were offered shares in the company for 85 cents apiece. That gives Li-S Energy an expected market capitalisation of around $544 million.

Originally, PPK expected Li-S Energy’s IPO to occur in late August. Specifically, yesterday.

However, despite excess demand for Li-S Energy’s shares, there’s still no word as to when we’ll see it debut. PPK updated the market on the IPO last week, saying it’s waiting on the ASX to provide its approval.

The investment company stated there are still a number of steps to complete before Li-S Energy can go public. It said:

It is expected that these steps will be dealt with and conditional listing approval provided shortly. At that time a revised timetable will be provided and a further announcement regarding such will be made.

So, it seems we should stop holding our breath for Li-S Energy’s IPO for a moment. Though, the suspense seems to be good for the PPK share price.

PPK share price snapshot

The PPK share price has gained 234% year to date. It is also 370% higher than it was this time last year.

The post PPK (ASX:PPK) share price up 52% in a month despite Li-S Energy IPO hurdles appeared first on The Motley Fool Australia.

More reading

• Who’s starting the week off as the biggest mover on the ASX 300 today?
• PPK Group (ASX:PPK) share price tumbles despite distribution agreement

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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The Vanguard Australian Shares Index ETF (ASX: VAS) has had a remarkable month of August so far (touch wood). This popular ASX exchange-traded fund (ETF) mirrors the S&P/ASX 300 Index (ASX: XKO). As such, if VAS has had a good month, it means the ASX 300 has too. 

But let’s get into some numbers.

So over the month of August to date, the ASX 300 Index has climbed from around 7,386.5 points at the start of the month to 7,538.8 points (where it stands at the time of writing. That’s a gain of roughly 2.1% for the month to date.

Meanwhile, the VAS ETF started August at $94.56 a unit. Today, it stands at $97.01 a unit at the time of writing. That’s also a gain of roughly 2.55%. So VAS has slightly outperformed the index that it tracks over August so far. This is probably down to some quirks with index allocations. But putting that aside, it’s been an indisputably good month for both the ASX 300 and the Vanguard Australian Shares Index ETF.

But why?

Well, like any ETF, VAS’s performance is directly correlated to the performance of the underlying shares it holds. And since VAS mirrors the ASX 300 Index, VAS will hold the same shares, in the same weightings.

As you might guess, it’s top 6 holdings, in order, consist of the big four banks, BHP Group Ltd (ASX: BHP) and CSL Limited (ASX: CSL). Rounding out the top 10 are Wesfarmers Ltd (ASX: WES), Macquarie Group Ltd (ASX: MQG), Rio Tinto Limited (ASX: RIO) and Woolworths Group Ltd (ASX: WOW).

Which ASX 300 shares have fuelled VAS’s rise over August?

Well, we can rule out BHP and Rio for being responsible for VAS’ August gains. Both of these iron ore miners have had a terrible month. This is partly the result of lower iron ore pricing over August.

CBA has been pretty modest, giving investors a 0.56% gain over August. That’s very similar to the returns of Australia and New Zealand Banking Group Ltd (ASX: ANZ). But it’s the other ASX banks that have shone inside the VAS ETF. Westpac Banking Corp (ASX: WBC) has put on a very healthy 5% over August so far. National Australia Bank Ltd. (ASX: NAB) has done even better, gaining around 6.4%.

CSL, however, has been the star of the ASX 300 over the month about to pass. This health care giant has managed to gain around 9% since the end of July.

So the numbers are in. Investors can largely thank CSL, NAB and Westpac for the stellar month both the ASX 300 and the VAS ETF have enjoyed.

The post August has been a good month for the VAS (ASX:VAS) share price appeared first on The Motley Fool Australia.

More reading

• Which ASX shares are leading the way on the ASX 300 today?
• Which ASX companies are starting off the week as the top movers in the ASX 300 today?
• Which ASX shares are ending the week as the biggest movers today?
• Which ASX shares are leading the ASX 300 today?
• Which ASX 300 shares are the biggest winners and losers today?

Motley Fool contributor Sebastian Bowen owns shares of National Australia Bank Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended CSL Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited and Wesfarmers 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another small gain. At the time of writing, the benchmark index is up 0.3% to 7,526.3 points.

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

Aussie Broadband Ltd (ASX: ABB)

The Aussie Broadband share price is up 6.5% to $4.00. This gain appears to have been driven by a broker note out of Ord Minnett. In response to yesterday’s full year results, the broker has retained its buy rating and lifted its price target on the broadband provider’s shares to $4.32. Ord Minnett is expecting another strong year for the company in FY 2022.

Dubber Corp Ltd (ASX: DUB)

The Dubber share price has jumped 8.5% to $3.96. Investors have been buying the call recording technology company’s shares following the release of a strong full year result. In FY 2021, Dubber reported a 142% jump in annualised recurring revenue (ARR) to $39 million. This was underpinned by a 118% increase in subscribers to over 420,000.

Regis Healthcare Ltd (ASX: REG)

The Regis Healthcare share price has climbed 6.5% to $2.10. This aged care provider’s shares have stormed higher after it reported a return to profit in FY 2021. For the 12 months ended 30 June, Regis delivered a net profit after tax of $19.9 million. This compares to a loss of $0.7 million a year earlier.

Webjet Limited (ASX: WEB)

The Webjet share price is up 3% to $5.66. This follows the release of a positive trading update by the online travel agent ahead of its annual general meeting. That update reveals that the company’s key WebBeds business returned to profit during the month of July. Pleasingly, it has continued to be profitable in August and is expected to remain this way moving forward.

The post Why Aussie Broadband, Dubber, Regis Healthcare, & Webjet are storming higher 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 shares of and has recommended Aussie Broadband Limited and Dubber Corporation. The Motley Fool Australia owns shares of and has recommended Dubber Corporation and Webjet Ltd. The Motley Fool Australia has recommended Aussie Broadband 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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The Beamtree Holdings Ltd (ASX: BMT) share price is soaring today after the company announced its plan to acquire data analytics firm, Potential(x).

Potential(x) specialises in the health and human services market. According to Beamtree, the acquisition will set it up as the largest health and artificial intelligence-led support platform in Australia.

Right now, the Beamtree share price is 59,5 cents, 21.43% higher than its previous close.

Let’s take a closer look at today’s news from the health data insights and health coding solutions provider.

New acquisition

The Beamtree share price is gaining after the company announced it’s entered an agreement to acquire Potential(x).

The agreement will see Beamtree paying $4 million in cash and providing Potential(x)’s shareholders with 30 million Beamtree shares.

According to Beamtree’s release, Potential(x) has relationships with more than 300 health service providers, including more than 250 hospitals in Australia, New Zealand and the United Arab Emirates. It also has relationships with 35 disability providers that together represent around 40% of National Disability Insurance Scheme (NDIS) funding.

Potential(x) also has a 26-year partnership as the full-service operator for Australia and New Zealand’s The Health Roundtable Ltd. The cooperative includes a network of 200 hospitals across Australia, New Zealand, and the Abu Dhabi Health Services Authority.

Beamtree believes Potential(x)’s existing industry relationships will help it enter the market.

Potential(x) revenue for the 2021 financial year was $11 million. Its normalised earnings before interest, taxes, depreciation and amortisation (EBITDA) came to $2.6 million.

Following the acquisition, Beamtree expects pro forma revenue of $19.9 million and operational EBITDA of $5.7 million.

Commentary from management

Beamtree’s CEO Tim Kelsey commented on the news sending the company’s share price through the roof today:

This agreement marks a major milestone in the growth opportunity for Beamtree – it doubles the size of the company by revenue and employee numbers and makes it one of the largest health analytics and decision support platforms in Australia. The new company already serves health services in more than 24 countries across four continents – we look forward to accelerating our global growth together with the Potential(x) team.

Potential(x)’s CEO Duane Attree added:

We will be bringing our brilliant teams together, who have complementary skills, expertise and a collective vision to put data and technology to best use for improving the quality and value of global health and human services.

Beamtree share price snapshot

The Beamtree share price has been performing well lately.

It’s currently about 40% higher than it was at the start of 2021. It has also gained around 120% since this time last year.

The post Beamtree (ASX: BMT) share price rockets 21% on acquisition news appeared first on The Motley Fool Australia.

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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 Beamtree Holdings 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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