Category: Stock Market

If you’re a fan of tech shares, then you may want to look at the ones listed below.

They have been growing strongly and have been tipped to continue doing so long into the future. Here’s what you need to know:

Appen Ltd (ASX: APX)

The first tech share to look at is this artificial intelligence (AI) data services company.

Its shares have come under significant pressure over the last 12 months due to concerns over the softening of demand for its services during the pandemic from some of its biggest customers.

The good news is that management appears to believe that this weakness is only temporary and that the issues it is facing aren’t structural. It is also expecting demand to rebound strongly once trading conditions return to normal.

In addition to this, management recently announced plans to evolve into a provider of a broad range of AI data annotation products and solutions. It believes this will unlock growth in new markets.

Ord Minnett remains positive on the company. It currently has a buy rating and $24.75 price target on its shares. This is almost double where its shares trade today.

Hipages Group Holdings Ltd (ASX: HPG)

Another ASX tech share to consider is this leading online platform and software as a service (SaaS) provider.

Hipages connects tradies with residential and commercial consumers, providing them with job leads. The platform also allows tradies to communicate with customers and run general admin duties.

Goldman Sachs is very positive on the company’s growth prospects. So much so, this morning the broker retained its buy rating and lifted its price target by 20% to $4.10.

The broker said: “We are confident in HPG’s ability to execute on its tradie customer acquisition strategy. Current fundamentals of this business look very strong and should support long-term structural growth in the marketplace. We see c.20% p.a. revenue growth over our forecast period and 48% 3-yr EPS CAGR. On our estimates, HPG is trading at attractive valuation multiples vs peers and is in a strong net cash position.”

The post 2 exciting ASX tech shares that could be buys appeared first on The Motley Fool Australia.

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• Top broker says Appen (ASX:APX) might be a takeover target at this share price
• Here’s why the Hipages (ASX:HPG) share price is up 34% in a month
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• Is the Appen (ASX:APX) share price an opportunity?

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 Appen Ltd and Hipages Group Holdings Ltd. The Motley Fool Australia owns shares of and has recommended Appen 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 Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price has been a strong performer in 2021.

Since the start of the year, the banking giant’s shares have risen a sizeable 21%.

Can the ANZ share price keep climbing?

With the ANZ share price rising so strongly this year, investors will no doubt be wondering if it is too late to invest.

The good news is that one leading broker doesn’t believe it is. In fact, it still sees decent upside ahead for ANZ shares over the next 12 months.

According to a recent note out of Goldman Sachs, its analysts have retained their buy rating and lifted their price target on the company’s shares to $30.50. This implies potential upside of 9% between now and this time next year excluding dividends.

In addition, Goldman Sachs is forecasting fully franked dividends per share of $1.40 in FY 2021 and $1.45 in FY 2022. Based on the current ANZ share price of $28.00, this will mean yields of 5% and 5.2%, respectively, over the next two years.

Combining Goldman’s price target and dividend forecasts, ANZ shares are expected to provide investors with a total return of over 14% over the next 12 months.

Why is Goldman positive on ANZ?

Goldman likes ANZ for a number of reasons. This includes its net interest margin (NIM) management, growth prospects, valuation, and yield.

It explained: “ANZ’s NIM is being very effectively managed in the face of weaker volumes; a trend we expect to continue through FY21E. The resulting revenue pressures, which are also being adversely impacted by fees (and Markets in 1H21), should be offset by productivity benefits in outer years.”

“The stock is trading more than one standard deviation cheaper versus the sector on PPOP multiples (24% discount vs. 11% long-run average discount), despite our expectations that it will deliver 5% PPOP/share CAGR in the two years to FY23E (with upside from capital management), with a c. 5% dividend yield,” it added.

The post Can the ANZ (ASX:ANZ) share price keep rising? 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 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 Warrego Energy Ltd (ASX: WGO) share price has spent today’s session in the green, capping off a gain of 2% over the last month.

Today’s gains come as the company released its quarterly results in the morning.

Let’s comb over what the company announced in a bit finer detail.

Warrego Energy activity report

Warrego provided an update on progress at its West Erregulla Field and Northern Perth Basin projects.

At West Eregulla, the company detailed “exciting flow results from WE-4” which achieved a sustained gas flow rate of 35 million standard cubic feet per day (MMscfd) of gas.

The total duration for the well was 57 days, and the WE-4 was cased for future production.

“Drilling performance in both WE-4 and WE-5 improved substantially on a time and cost basis compared to WE-2 and WE-3” the company stated in the report.

Warrego also explained that the Australian Gas and Infrastructure Group (AGIG) had completed the supplementary FEED study for the gas processing facility at West Erregulla.

AGIG and other stakeholders are “close to finalising construction and gas processing agreements for Phase 1” of the gas project at this site.

The company also provided an update on the Northern Perth Basin exploration.

Warrego also received “farm-in inquiries for EPA-0127” and will confidentially provide the data room access to interested parties.

Other key takeouts

Warrego also secured funding commitments for its pre-development activities at EP469 during the quarter.

In addition, it raised an additional $50 million via an equity round at 22 cents per new share.

The raise occurred via a “two-tranche placement” to investment fund Long Lead Items. The first tranche of $32.4 million was issued on 2 July.

However, the remaining $17.6 million still requires shareholder approval at a meeting on 10 August.

The financing is to be used at West Eregulla and the “re-entry and completion of the WE-3 well”.

One particular line that stood out in the report, is that the company is in “advanced discussions to form a banking club”.

The so called “club” consists of three domestic banks and will serve to provide project financing of up to $75 million for a 50% stake in Phase 1 of the West Eregulla project.

Investors seem in favour of Warrego’s progress. Warrego shares are now exchanging hands at 26 cents, a gain of 4% since the market open.

Warrego Energy share price snapshot

The Warrego Energy share price has gained 10% year to date, extending the previous 12 month’s return of 65%.

Although Warrego shares have lagged the broad index this year, they have beaten the S&P / ASX 200 Index (ASX: XJO)’s return of ~20% over the last year.

Warrego Energy has a market capitalisation of $291 million at the time of writing.

The post The Warrego Energy (ASX:WGO) share price rises after quarterly report 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 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 Recce Pharmaceuticals Ltd (ASX: RCE) share price ended the day higher after the company secured a patent in the United States.

At the closing bell, the pharmaceutical company’s shares finished the day up 3.27% to $1.10.

Let’s take a closer look at what Recce announced to the ASX this morning.

Recce furthers patent protection

According to its release, the United States Patent and Trademark Office has granted Patent Family 3 to Recce anti-infectives.

Titled “Anti-Virus Agent and Method for Treatment of Viral Infections”, the patent furthers the company’s marketing and manufacturing property until February 2037.

The approved claims relate to its flagship drug, Recce 327, and anti-viral formulation, Recce 529. They are as follows:

• Composition/method of manufacture of Recce anti-infectives;
• Use of Recce 327 or Recce 529 for the treatment of viruses having a lipid envelope or coat, examples being SARS-CoV-2 and Corona viruses, Influenza viruses, HIV, Hepatitis, Ross River and Herpes viruses; and
• Administration of Recce 327 or Recce 529 by oral, injection, inhalation and transdermal dose applications.

Recce’s lead drug candidate (Recce 327) is being developed to treat blood infections and sepsis.

Investors appeared buoyed by this latest development, sending the Recce share price higher on Thursday.

According to World Atlas, the US is the largest pharmaceutical market in the world, valued at $33.97 billion. The country’s stringent processes in developing and manufacturing drugs has led to some of the best-selling products across the globe.

Just this week, China also granted Recce Patent Family 3 to its anti-infectives. This leaves Australia as the only remaining nation yet to approve the patent. China, Japan, Europe and now the United States have all authorised Recce’s Family 3 patent.

Recce CEO James Graham said:

Recce’s intellectual property portfolio continues to grow in-line with our business strategy and the unprecedented global infectious disease crisis before us. We are thrilled to see that our anti-viral patent granted in the USA, the largest pharmaceutical market in the world; with yet further market-monopolies reinforcing the unique opportunities among a significant range of both bacterial and viral pathogens.

Recce share price summary

Despite today’s rise, Recce shares have had a disappointing 12 months, falling more than 15%. However, year-to-date, the company’s share price is slightly up by 5%.

Recce has a market capitalisation of roughly $192 million, ranking as the 722nd largest company on the ASX.

The post Recce (ASX:RCE) share price edges higher after patent approval appeared first on The Motley Fool Australia.

More reading

• Why the Recce (ASX:RCE) share price is racing 5% higher today

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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Are you looking for blue chip ASX 200 shares to add to your portfolio this financial year? If you are, the two ASX shares listed below could be worth a closer look.

Here’s what analysts think of these shares:

CSL Limited (ASX: CSL)

The first blue chip ASX 200 share to look at is CSL. It is one of the world’s leading biotherapeutics companies, comprising the CSL Behring and Seqirus businesses. CSL Behring is the global leader in plasma therapies and Seqirus is the second largest influenza vaccines business.

Both of CSL’s businesses have been growing at a solid rate in recent years and have been tipped to continue doing so in the future. This is being driven by their leading therapies and lucrative research and development pipelines.

In respect to the latter, CSL’s pipeline contains a number of highly promising products that have the potential to generate significant revenues in the future.

And while plasma collection headwinds are likely to weigh on its performance in the near term, this is understood by the market and priced into the current CSL share price.

UBS is positive on the company. The broker currently has a buy rating and $330.00 price target on its shares.

REA Group Limited (ASX: REA)

Another blue chip ASX 200 share to consider is REA Group. This property listings company has been a strong performer in recent years despite battling a housing market downturn and the COVID-19 pandemic.

This demonstrates the resilience of REA Group’s business model and its exceptionally strong position in the ANZ market.

Positively, with the housing market now thriving once again, REA Group’s growth outlook is looking increasingly positive. This should be boosted by price increases, new revenue streams, acquisitions, and its cost control.

It is for this reason that the team at Goldman Sachs is particularly positive on the company. So much so, the broker has recently retained its buy rating and lifted its price target to a lofty $198.00.

The post 2 blue chip ASX 200 shares rated as buys 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 CSL Ltd. The Motley Fool Australia has recommended REA 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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The Bitcoin (CRYPTO: BTC) price is up 4.8% over the past 24 hours. One Bitcoin is currently worth US$32,076 (AU$43,346).

The digital token likely has Elon Musk to thank for some of the rebound.

The influential Tesla Inc (NASDAQ: TSLA) founder, appearing on a panel discussion with Cathie Wood, and Jack Dorsey, said he’d invested more in Bitcoin than other cryptos. And he noted Tesla will likely begin accepting it as payment again once 50% of the power used to mine it comes from renewable sources.

With the past 24 hour’s performance, the year-to-date gains for the world’s biggest crypto are back up to 10.4%. Though it’s worth noting that the value is still less than half of where it stood at April’s peak levels.

Same gains…better sleep

10.4%, incidentally, is the precise year-to-date gain currently posted by the S&P/ASX 200 Index (ASX: XJO). Gains that share investors using an ASX 200 tracking exchange traded fund (ETF) could have made while enduring a heck lot less of volatility than crypto investors holding Bitcoin have.

While today’s rebound will come as welcome news to these crypto investors, what follows may cause some restless nights.

Fair warning.

Bitcoin to crash to US$15,000?

Scott Minerd is the chief investment officer of global asset management and investment advisory Guggenheim Investments, which oversees some US$245 billion (AU$331 billion) in total assets.

And Minerd is decidedly bearish on his outlook for Bitcoin.

Minerd forecasts that the token will lose more than half its current value, when he told Bloomberg Television yesterday (overnight Aussie time). He expects “something in the neighbourhood of $15,000”, adding that “a lot of this stuff is just junk”.

According to Minerd:

I think there’s still more air to come out. The standard bear market for Bitcoin has been an 80% retracement and given all the uncertainty and the new competition from new coins, I think there’s more downside to go… When do you buy it? I don’t think anytime soon.

Long-term, Minerd believes that Ethereum (CRYPTO: ETH) will be a “more viable” cryptocurrency than Bitcoin. The Ethereum price, by the way, is up 6.1% over the past 24 hours and has gained 168% year-to-date, according to data from CoinDesk.

The investing guru – who’s also bearish on the short-term outlook for shares in September and October – speculated that Bitcoin could be the “canary in the coal mine that’s telling us we have more problems ahead for risk assets, and in particular stocks”.

If Minerd’s got this one right, then Tesla stands to lose a fortune on its US$1.5 billion Bitcoin investment.

According to an estimate published by Fortune, Tesla likely paid around US$34,700 per token at the time. Should it fall to US$15,000, the company could be out some US$852 million on its crypto venture.

Caveat emptor!

The post Why this investment guru forecasts Bitcoin crashing to US$15,000 appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Ethereum. 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 Westpac Banking Corp (ASX: WBC) share price appears resolute despite the latest Forum Finance development.

Shares in Australia’s second largest bank finished today’s trading up 0.69% to $24.93.

Court documents bring Westpac into focus

Eyeballs were drawn to Westpac again following the bank’s latest court documents being obtained by media outlets.

According to The AFR, the big four constituent alleges more than 100 fraudulent transactions took place involving Forum entities over a period that extended beyond two years.

Specifically, Westpac alleges that hundreds of millions of dollars were siphoned through the bank to various interests owned by Bill Papas’ Forum Group.

These interests are believed to be sprawled across Australia, Greece, Britain, Germany, and the United Arab Emirates.

Purportedly, the ploy was used to fund a range of extravagancies for Papas. These allegedly include properties, racing cars, boats, jewellery, and Papas’ 94.4% stake in Greek football club, Xanthi FC.

The alleged scheme is believed to be constructed through the elaborate creation of fraudulent documents, illustrating a raft of clients for Papas’ companies.

Such clients apparently include Veolia, Scentre Group (ASX: SCG), Coles Group Ltd (ASX: COL), and Catholic Healthcare among others.

In total, Westpac deems the loss to be $253.8 million. However, this doesn’t take into consideration other transactions through Westpac New Zealand.

Westpac share price snapshot

The Westpac share price has delivered a tantalising 37% to investors in the past 12 months. However, the bank has been suffering a weakening in its share price since late June.

About that time, Bell Potter downgraded Westpac shares to a hold rating. Although, on the positive side, the broker improved its Westpac share price target to $26.50.

Currently, the bank trades on a price-to-earnings (P/E) ratio of 22.15. The industry average P/E ratio is 15.5 times.

The post Westpac (ASX:WBC) share price up despite potential $254 million loss appeared first on The Motley Fool Australia.

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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 owns shares of and has recommended COLESGROUP DEF SET. 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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Fortunately, in this low interest rate environment, there are countless dividend shares for investors to choose from on the Australian share market.

But with so many to choose from, it can be hard to decide which ones to buy. To narrow things down, I have picked out two ASX dividend shares brokers think investors should buy:

Macquarie Group Ltd (ASX: MQG)

According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $175.00 price target on this investment bank’s shares. The broker is expecting a reasonably flat quarterly update at its upcoming annual general meeting. This is due to its belief that some strong performing areas of the business, such as commodities, will be offset by foreign exchange headwinds. Nevertheless, the broker believes that Macquarie’s shares are attractively priced at the current level. Particularly in comparison to its global peers.

Morgan Stanley is forecasting a partially franked dividend of $5.50 per share in FY 2022 and then a $6.05 per share dividend in FY 2023. Based on the current Macquarie share price of $157.47, this will mean yields of 3.5% and 3.8%, respectively, over the next two years.

Ramsay Health Care Limited (ASX: RHC)

A note out of Ord Minnett reveals that its analysts have upgraded this private hospital operator’s shares to a buy rating with a slightly trimmed price target of $72.50. While the broker has reduced its earnings forecasts to reflect the lockdowns in Australia, it remains positive on the future thanks to strong vaccination rates in other markets it operates in. In addition to this, Ord Minnett suspects that the company may not have given up on acquiring Spire Healthcare in the UK.

For now, the broker is forecasting fully franked dividends per share of $1.99 in FY 2021 and then $2.62 in FY 2022. Based on the current Ramsay share price of $64.39, this implies yields of 3.1% and 4.1%, respectively, over the next two years.

The post Top brokers name 2 ASX dividend 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. 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 Australia has recommended Ramsay Health Care 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 Top Shelf International Holdings Ltd (ASX: TSI) share price has walked through today’s session firmly in the green. At the closing bell, Top Shelf shares were swapping hands for $2.09, a gain of 14.8%.

Today’s gains come after the company gave an overview of its maturing spirit inventory and net sales value.

Let’s take a closer look at what Top Shelf released today and what other tailwinds are behind the beverage manufacturer’s share price lately.

Inventory and net sales value

Top Shelf announced that, as of 30 June, it had maturing spirits with a net sales value of $272 million.

This signifies a 521% year-on-year increase, and a 124% increase above its prospectus.

Top Shelf’s total spirit inventory increased to 3.5 million litres, representing a 410% increase from one year ago.

The company also realised an average net sales value per litre for NED whisky of $71.40, a 23% increased from 1H FY21.

To arrive at these calculations, Top Shelf “engaged PwC to perform certain procedures on the calculations and methodology”.

Investors have relished the announcement, driving the Top Shelf share price higher.

What other tailwinds are behind Top Shelf’s share price?

The company also reported its unaudited FY 2021 earnings results on 14 July. Here, the company recorded unaudited revenue of $20 million.

These results signified a 160% year-on-year growth from 30 June 2020, matching the forecasts in the company’s prospectus.

Top Shelf also reported “branded product revenue” of $12.7 million, a 211% increase from the $4 million in FY 2020.

Investors are buying into the company’s growth narrative following the results, pushing the Top Shelf share price 25% into the green over the previous 5 trading sessions.

Top Shelf share price snapshot

The Top Shelf share price has posted a return of 2.5% this year to date, after a gradual run-down from highs of $2.20 in March.

The company’s share price hit a low of $1.61 at the close on 13 July, however has since climbed 30% since these two announcements.

Top Shelf has a market capitalisation of $90 million at the time of writing.

The post Why the Top Shelf International (ASX:TSI) share price soared 15% today 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 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 Openn Negotiation Limited (ASX: OPN) share price has been soaring today after first listing on the ASX yesterday.

Its successful initial public offering (IPO) yesterday saw the share price jump from its offer price of 20 cents to a closing price of 31 cents.

Today, more than 11.7 million shares changed hands, with the Openn share price finishing the day at 35.5 cents, up 12.9%. It hit an intraday high of 43.5 cents at lunch time.

Let’s take a closer look at how the first two trading days unfolded for Openn.

What is Openn Negotiation?

Openn is a cloud-based property platform that hosts online real estate auctions.

To date, Openn has facilitated more than $2 billion in Australian property sales. The platform is used by more than 3,000 agents across Australia and New Zealand.

The company’s revenue model sees it derive income from property listing fees on its platform. This comes in at $500 per property.

It also receives revenue through an agent training segment that instructs agents how to use the platform. Only trained agents can list properties on Openn.

As part of its prospectus, Openn outlines $851,402 in revenue for FY2020 under this model, which translates to a pre-tax loss of about $1.2 million.

Openn’s IPO success

The initial offering for Openn Negotiation shares was 20 cents a piece, according to the prospectus.

The company listed with an initial valuation of $38 million, and hoped to realise $9 million from the equity raise.

Based on today’s closing price, Openn’s market capitalisation has grown to $41.3 million.

Given its IPO success, Openn intends to use the raised funds for domestic market expansion.

The company might also establish a footprint in the US in the future.

Foolish takeaway

The Openn Negotiation share price is skyrocketing in the secondary market since its IPO yesterday.

Investors are enthusiastically buying into the Openn Negotiation growth narrative.

Online auctions have become much more accepted over the past year due to extensive use by agents during COVID lockdowns.

The Openn Negotiation share price has outperformed the S&P/ASX 200 Index (ASX: XJO) today, with the broad index up 0.9%.

The post Openn Negotiation (ASX:OPN) share price up 13% in second day of trade 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 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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