Category: Stock Market

Shares in Megaport Ltd (ASX:MP1) are gaining today after the company released a report on its record performance over the final quarter of the 2021 financial year, which included an update on its products.

At the time of writing, the Megaport share price is up 0.67%, with shares in the software-defined network service provider swapping hands for $16.64. However, earlier today the Megaport share price was $16.93 ­– a 2.41% increase.

For context, the S&P/ASX 200 Index (ASX: XJO) is up 0.07% right now.

Let’s take a look at the news released by Megaport today.  

What could be driving the Megaport share price?

Fourth quarter performance

Megaport reported record growth across all its metrics in the quarter just been.

A total of 168 new customers were added to Megaport’s services over the 3-month period – that represents an 8% quarter-on-quarter increase. Megaport now has 2,285 customers.

The company’s monthly recurring revenue increased by $735,000 to reach $7.5 million in June. It also reported record growth in its underlying monthly reoccurring revenue, which increased by $667,000 over the quarter.

Megaport’s total revenue was $22.7 million – 16% more than its previous corresponding period. At the end of June, the company had $136.3 million cash in the bank.

Additionally, the Megaport share price gained 47% over the quarter just been.

Product updates

Megaport also announced a number of updates on its products.

First, it announced its Megaport Virtual Edge service has integrated three leading software-defined networking in a wide area network (SD-WAN) service providers. Megaport is also working to integrate another 3 SD-WAN providers. It says its “growing ecosystem” of partners will increase the service’s functionality.

Megaport also announced demand for 100 gigabit customer access ports is increasing. The company is working to get more port inventory to stay ahead of demand. Also, it has increased its deployment of 100 gigabit port speeds. They are are now available in 64 sites across Megaport’s network.

Additionally, Megaport announced its Megaport cloud routers are continuing to be popular. Eighty routers were sold during the last quarter – 19% more than in the previous quarter. Megaport cloud router users now make up 12% of Megaport’s customer base.

Finally, Megaport’s partnership with Digital Realty Trust is continuing strong. The companies plan to send Service Exchange, Powered by Megaport to the market in the current quarter. Service Exchange is a white-label of Megaport’s platform.

Digital Realty has recently sold its holding in Megaport, but the two are focused on continuing the partnership.

Commentary from management

Chief executive Vincent English said of the news potentially driving the Megaport share price today:  

Our record quarter is a direct outcome of the increased demand for Megaport services as businesses accelerate their digital transformation and cloud-based initiatives. With accelerating adoption of all Megaport services, our customers are taking advantage of the power of the Megaport platform as a whole.

… With a record quarter in the books, we also built a strong commercial pipeline to keep the momentum going into the new fiscal year… Megaport is well positioned to continue investing in our revenue engine to capture the increasing demand for connectivity services in FY22 and beyond.

Megaport share price snapshot

With today’s gains included, the Megaport share price has grown by 17% year to date. It has also gained 19% over the last 12 months.

The company has a market capitalisation of around $2.5 billion, with approximately 156 million shares outstanding.

The post Megaport (ASX: MP1) share price up on the back of a record quarter 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 MEGAPORT FPO. The Motley Fool Australia has recommended MEGAPORT FPO. 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 Payright Ltd (ASX: PYR) share price raced 6% higher in morning trade following a partnership announcement from the company.

Shares in the Australian-based buy-now, pay-later (BNPL) provider have since retreated slightly, trading at 56.5 cents at the time of writing, up 4.63%.

Let’s take a closer look at what Payright released to the ASX market today.

Payright extends merchant offering

The Payright share price is pushing higher after the company delivered a positive update to investors.

In today’s statement, Payright advised it has teamed up with Australian fintech, Mint Payments.

Founded in 2006, Mint Payments processes mobile payments and transactions across Australia, New Zealand and Singapore. The group provides an online platform that enables businesses to accept credit and debit card payments on smart devices. Its merchant base includes well-known brands such as Nutrimetics, Tupperware, Fuji Film, Nestle, Helloworld and Jim’s Financial Services.

The collaboration between the pair will see Payright integrate its BNPL solution into Mint’s online payments processing system. This provides more than 7,000 merchants from Mint Payments with access to Payright’s BNPL offering for e-commerce and instore transactions.

In effect, the partnership represents a significant opportunity in which Mint Payment merchants can use Payright’s solution. The BNPL company noted that extending its footprint through its merchant base, will drive further value for shareholders.

Management commentary

Payright co-CEO Piers Redward welcomed the partnership, saying:

Our partnership with Mint Payments will play an important role in the evolution of our payment ecosystem.

Mint Payments services a reputable and extensive network of more than 7,000 merchants across travel and accommodation, online retail and hospitality, trade and professional services, making it a strategic fit for our BNPL product tailored to higher-value purchases.

Mint Payments co-founder and group CEO Alex Teoh added:

BNPL continues to rise in popularity as a payment method and Payright’s seamless user experience and focus on bigger ticket items made it an attractive partner for our business. Together with Payright, we look forward to continuing to make e-commerce less complicated for Australian consumers.

About the Payright share price

Over the past 12 months, the Payright share price has fallen more than 40%, and is down around the same amount year-to-date. The company’s share price hit an all-time low of 41.5 cents in late May.

Payright has a market capitalisation of roughly $39 million, and approximately 68 million shares on its books.

The post Payright (ASX:PYR) share price jumps 6% on partnership announcement appeared first on The Motley Fool Australia.

More reading

• Why the Payright (ASX:PYR) share price has surged 10% today
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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 Lithium Australia NL (ASX: LIT) share price is powering higher today after the company announced its subsidiary’s cathode powder has met industry standards.

At the time of writing, the Lithium Australia share price is 12 cents – 9.09% higher than its previous closing price.

Let’s take a closer look at today’s news from Lithium Australia.

A win for Lithium Australia’s cathode powder

Lithium Australia announced today VSPC Ltd’s second-generation lithium manganese ferro phosphate (LMFP) cathode powder has met industry performance and physical property specifications.

VSPC is a subsidiary of Lithium Australia.

LMFP is a high-capacity lithium-ion battery cathode powder that contains no nickel or cobalt.

According to the company, it’s a cheaper and safer cathode material to use in high-energy drawing applications, such as electric vehicles and large-scale energy storage.

Additionally, the company states it can customise the cathode material’s performance criteria to individual customer specifications.

Lithium Australia states Tesla Motors and BYD are phasing out traditional lithium-ion batteries. According to the company, the electric vehicle producers are choosing instead to use those made with LMFP cathode material.

Previously, the company had sent VSPC’s cathode material to potential customers for testing. Lithium Australia hasn’t reported on their findings.

Commentary from management

Lithium Australia’s managing director Adrian Griffin said of the news:

(The company) has not only demonstrated its unprecedented ability to produce high-performance LMFP (the next generation of energy-storage material) but has done so on schedule… Lithium Australia continues to evaluate commercial production opportunities in the most rapidly expanding battery markets globally, with a view to shortening supply chains and reducing the carbon footprint of battery production.

Lithium Australia share price snapshot

Today’s gains included, the Lithium Australia share price is now 100% higher than it was at the start of 2021.

It has also gained 140% since this time last year.

The company has a market capitalisation of around $99 million, with approximately 906 million shares outstanding.

The post Lithium Australia (ASX:LIT) share price gains 9% on cathode powder win 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. owns shares of and has recommended Tesla. 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 Cirralto Ltd (ASX: CRO) share price has been among the best performers on the ASX on Thursday.

At one stage today, the transaction services company’s shares were up as much as 25% to 7 cents.

The Cirralto share price has eased back since then but remains 14% higher at 6.4 cents at the time of writing.

Why is the Cirralto share price surging higher?

Investors have been bidding the Cirralto share price higher today following the release of a couple of positive announcements.

According to the first announcement, the company has signed a five-year referral agreement with payments giant Mastercard.

Under the terms of the agreement, Mastercard may introduce potential sales leads and business opportunities to Cirralto and will receive a trade facilitation fee for each successfully on boarded customer. Cirralto will retain at least 70% of the gross profit margin on each customer contract.

Cirralto’s CEO, Adrian Floate, said: “We are very excited to announce that we have signed an agreement with Mastercard, with whom we have developed a very strong relationship between 2020 and 2021.”

“This Agreement serves as a strong validation of what we are doing while also providing us the opportunity to potentially access a significant customer base. The solutions we will provide to Mastercard customers provide the Company with a fantastic opportunity to rapidly scale its business and grow within Australia and abroad,” he added.

What else?

Also giving the Cirralto share price a boost was a second announcement of another five-year referral agreement.

This time it is with data layer specialist Fresh Supply Co. It captures operational farming data from a variety of sources and makes it consumable by the financial sector.

This deal will see Cirralto provide trade finance solutions and integration services to business customers, in addition to merchant on record payment services via existing arrangements.

Management notes that providing the agricultural industry access to trade finance reduces the risk of non-payment and improves efficiency and cash flow for both the buyer and seller. This enables farmers to get paid when specific milestones are met in the paddock-to-plate supply chain.

Mr Floate commented: “Working with Fresh Supply Co to help Aussie farmers is very humbling. By utilising our flexible payment solutions and the data mining technology intrinsic in Fresh Supply Co’s business, we are able to positively impact Australia’s Agricultural industry to drive improved cash flow and better business growth for those businesses.”

Following today’s gain, the Cirralto share price is up 60% since the start of the year.

The post Why the Cirralto (ASX:CRO) share price is zooming 25% higher today appeared first on The Motley Fool Australia.

More reading

• Sims (ASX:SGM) share price edges higher as new facility approved
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• Why Alkane, Audinate, Megaport, & Zip shares are rising today

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 Sims Ltd (ASX: SGM) share price is in the green today. This comes after the company announced it received development approval for its pilot resource renewal facility in Queensland.

At the time of writing, Sims shares are swapping hands for $16.05, up 1.39% from yesterday’s close.

Let’s take a look at what the metal-recycling company said in its release today.

New pilot resource facility

According to Sims’ announcement, development approval has been granted from the Queensland Government and Brisbane City Council for its resource renewal facility in Rocklea.

The company expects its Rocklea facility to become operational in 2022. It will focus on research and development to “advance technology across the programme”.

Sims managing director and chief executive Alistair Field said:

Sims Resource Renewal is about creating a truly closed loop in metals recycling and a genuinely circular business model.

The company also mentioned the notion of sustainability:

Producing hydrogen supports the transition to a more sustainable energy landscape, and it
enables Sims to advance its purpose to create a world without waste to preserve our planet.

Following a commercial demonstration in the United States, Sims also plans to produce hydrogen for industrial use. This would take place at its proposed facility in Campbellfield, Victoria.

The proposed facility in Melbourne’s north west will use green energy to power operations, according to Sims.

Further, at this facility the company will continue its plans to produce recycled materials in critical infrastructure, such as in construction and roads.

Sims share price snapshot

This year to date, the Sims share price has gained 17%. Furthermore, it has gained 112% over the past 12 months.

The gains exhibited over this time outpace the S&P / ASX 200 Index (ASX: XJO)’s return of 9.3% and around 23% over these same periods.

Sims has a market capitalisation of $3.2 billion, and paid a 12 cents per share dividend in March.

The post Sims (ASX:SGM) share price edges higher as new facility approved appeared first on The Motley Fool Australia.

More reading

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The author 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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There are two contradictory forces bumping heads in the share market currently.

One is the topic du jour, inflation. The negative influence of rising inflation and interest rates on growth stocks has been well-documented.

The other is the ever-increasing influence of technology in our lives. While COVID-19 may have given tech adoption a boost, the trend was already well underway and will continue for years, decades and centuries to come.

The trouble is, many ASX tech shares represent forward-looking businesses that favour low-interest rates.

So how does an investor reconcile these two opposing drivers?

Bell Potter industrials analyst Chris Savage said the post-COVID environment does threaten to entrench the rotation out of growth into value stocks.

“We therefore believe it is now more of a stock picker’s market and are particularly focused on those technology stocks where we believe there is either relative or absolute value,” he said in a memo to clients.

“We continue to be positive on the technology sector in Australia… we believe there are a number of good quality stocks in the sector with reasonable to strong growth outlooks.”

These are the 3 ASX tech shares Bell Potter nominated that could thrive in the post-COVID world.

Adacel could exceed already-upgraded forecasts

Melbourne company Adacel Technologies Limited (ASX: ADA) makes air traffic control systems.

Its shares sat at 97 cents before the market opened on Thursday.

Savage said the company has already upgraded its financial year guidance.

“It now forecasts profit before tax between $7.0 and $7.3 million – and we believe it will at least achieve the guidance if not exceed it.”

The business is sitting on “several million dollars” of cash, he added, and restarted a stock buyback at the start of the year.

“The company has already paid an interim dividend of 2.75c this year and we expect another reasonable dividend at year end,” said Savage.

“The stock looks value on an FY22 PE ratio of around 13x.”

Bell Potter rates Adacel as a buy, with a price target of $1.25.

Teenagers are breaking out

It’s summer in the northern hemisphere and the US is transitioning to post-vaccination life.

This bodes well for Life360 Inc (ASX: 360), according to Savage, which makes an app that tracks teenagers’ movements.

“The company is likely to be a major beneficiary of the widespread rollout of COVID vaccines – particularly in its home market of the USA,” he said.

“This was evident in the Appendix 4C release in late April and we expect this trend to continue over the remainder of the year and into next.”

Life360 shares traded for $6.99 before market open on Thursday. It’s already risen more than 80% this year.

“The stock is not cheap on an EV/revenue multiple of circa 5x in 2022 but… looks reasonable value relative to global comps.”

Bell Potter advises the tech share as a buy, with a price target of $7.

Nitro has ‘reasonable chance’ of upgrade

Shares for document productivity software provider Nitro Software Ltd (ASX: NTO) has only risen 0.94% this year so far.

But this belies the business’ health, said Savage.

“The company has had a strong start to the calendar year with annual recurring revenue at 31 March 2021 up 66% compared to 31 March 2020 and the CEO saying there is ‘accelerating sales momentum’ in the business.”

Savage’s team believes there’s “a reasonable chance” Nitro will upgrade its financial year 2021 guidance around August when the first half results are announced.

“Our forecasts already reflect this,” he said.

“The stock is not cheap on an EV/revenue multiple of circa 7x in 2022 but looks reasonable value relative to global comps.”

Bell Potter rated the stock as a buy, with a price target of $3.75. Nitro shares were $3.22 before the market opened Thursday.

The post 3 ASX tech shares for the post-COVID world appeared first on The Motley Fool Australia.

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Motley Fool contributor Tony Yoo owns shares of Nitro Software Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Life360, Inc. 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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The Fortescue Metals Group Limited (ASX: FMG) share price jumped well into the green this morning from the market open.

Shares in the iron ore production and exploration company surged 2.89% to hit a high of $24.23 just after the open. However, they have retraced back down to $23.80 at the time of writing, up 1.06% for the day so far.

Let’s take a look at the Fortescue share price in a bit more detail.

What’s Fortescue been up to recently?

While there was no market-sensitive information released to explain today’s rise in the Fortescue share price, on 6 July the company announced it had delivered on the “ambitious stretch targets” concerning its initial decarbonisation projects.

Fortescue is investigating the possibility of producing “100% renewable green energy”, setting decarbonisation targets, and aiming to wipe carbon emissions from its own operations.

A key takeout from the report was that Fortescue has engaged in the “successful production of high purity (>97%) green iron ore” during the initiative.

The testing also examined the use of green waste to make green cement and successfully combusted ammonia in a locomotive fuel. Further testing is underway for the company’s haul trucks and ore carriers.

Speaking on the trial’s success, Fortescue chief executive Elizabeth Gaines commented:

At Fortescue, we are leading the heavy industry battle against global warming, transitioning from being a major fossil fuel importer to a significant green and renewable energy and product exporter.

Regarding the company’s future in decarbonisation, Gaines said:

All of us at Fortescue are committed to its decarbonisation. Our great progress to date and our ongoing projects underpin Fortescue’s plan to become a major renewable energy and industry product exporter. As part of this plan, we are aiming to meet or beat our internal global industry-leading target to achieve carbon neutrality by 2030.

Iron ore prices have also been a key driver in the growth of the Fortescue share price over the past year. The iron ore price has skyrocketed from around US$100 per tonne to currently trade at around US$218 per tonne.

Fortescue sits near the top of the iron ore production matrix, being one of the globe’s largest producers of iron ore. As such, significant increases in the price of the commodity are great news for the company’s bottom line.

Analysts at Macquarie have an outperform rating on Fortescue shares, citing a $27 price target that correlates with iron ore markets running hot. This target implies a 13% potential upside from the current share price.

Fortescue share price snapshot

This year to date, the Fortescue share price has delivered a return of around 1.5%, and over the previous 12 months has posted gains of 62%.

The gains have lagged those of the S&P/ASX 200 Index (ASX: XJO) year to date (11%), but have outpaced its 23% returns over a 12 month period.

At the current market price, Fortescue has a market capitalisation of $73.2 billion and trades at a price-to-earnings ratio (P/E) of 8.4.

The post The Fortescue Metals (ASX:FMG) share price just surged 3% this morning appeared first on The Motley Fool Australia.

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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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Shares in Mineral Resources Limited (ASX: MIN) hit an all-time high in early trade this morning, extending their run this year to date.

The Mineral Resources share price reached a record high of $58.17 before retreating slightly. At the time of writing, shares in the company are trading at $57.79, up 0.5%.

There has been no market-sensitive information specific to the company this morning, so let’s take a look at what’s been happening lately with the mining services provider.

What has Mineral Resources been up to lately?

The mining services player, with expertise in lithium and iron ore, has had a busy start to the month.

On 6 July, the company announced that a subsidiary had secured a drilling rig to start gas exploration drilling for the conventional gas exploration well Lockyer Deep 1, located onshore at the Perth Basin.

Shares have climbed from ~$56 to today’s all-time high following this announcement, so it’s possible today’s gains are an extension of the market pricing in this positive news.

Back in May, the company also released that it was in the top five mineral producers in Australia. It said in a Macquarie presentation it was well-positioned to capitalise on recent strengths in iron-ore markets.

Analysts and Macquarie agree with the company’s sentiment, and see further upside potential from these end-market drivers.

Mineral Resource share price snapshot

Over the year to date, shares in the company are up 53%, building on a 12-month return of 155% and well above the 52-week low of $22.49 in July 2020.

The returns exhibited over each of these time frames outpaces the S&P/ASX 200 Index (ASX: XJO) return of around 9.5% and just over 23%, respectively.

Today’s gains extend a solid run into the green for Mineral Resources. At the current market price, the company has a market capitalisation of $10.8 billion and trades at a price-to-earnings ratio (P/E) of 16.7.

The post Why the Mineral Resources (ASX:MIN) share price hit an all-time high today appeared first on The Motley Fool Australia.

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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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In early afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is pushing higher again. At the time of writing, the benchmark index is up 0.3% to 7,348.2 points.

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

Alkane Resources Limited (ASX: ALK)

The Alkane Resources share price is up 2% to $1.23. Investors have been buying the gold miner’s shares after its production outperformed expectations in FY 2021. According to the release, Alkane achieved production of 56,958 ounces of gold at its Tomingley Gold Operations in FY 2021. This exceeds its upgraded guidance of 50,000–55,000 ounces.

Audinate Group Ltd (ASX: AD8)

The Audinate share price has stormed almost 4% higher to $8.70. This gain appears to have been driven by a broker note out of Morgan Stanley this morning. It believes the digital audio networking technology company could exceed expectations in the fourth quarter. This is due to elevated sales in the audio-visual industry during the June quarter. It also feels Audinate is a likely candidate for analyst forecast upgrades in FY 2022.

Megaport Ltd (ASX: MP1)

The Megaport share price is up 1.5% to $16.76 after the release of its quarterly update. That update reveals that the elastic interconnection service provider had a very strong fourth quarter, with record quarterly customer additions. This helped drive an 11% or $0.7 million quarter on quarter increase in monthly recurring revenue (MRR) to $7.5 million.

Zip Co Ltd (ASX: Z1P)

The Zip share price has jumped 9% to $8.41. Investors have been buying the buy now pay later (BNPL) provider’s shares amid speculation that a rival BNPL provider has acquired a strategic stake. BNPL provider Klarna is believed to have acquired a 4% stake in Zip. This is understood to be a move designed to strengthen Klarna’s position if the BNPL market consolidates to two to three leading global players in the future. Neither company has commented on the speculation.

The post Why Alkane, Audinate, Megaport, & Zip shares are rising 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 shares of and has recommended AUDINATEGL FPO, MEGAPORT FPO, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended AUDINATEGL FPO. The Motley Fool Australia has recommended MEGAPORT FPO. 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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Shares in Envirosuite Ltd (ASX: EVS) soared almost 10% this morning after the company released record-breaking quarterly results. The Envirosuite share price gained 9.52% to trade at 12 cents in morning trade, before partially retreating.

At the time of writing, the shares are swapping hands for 11 cents, still up 4.76% on the previous close.

The creator of environmental management software released its results for the fourth quarter of the 2021 financial year earlier this morning.

Let’s take a look at what’s got the market so excited about Envirosuite.

Record-breaking results

The Envirosuite share price is gaining after the company reported it received $2.3 million worth of new annual recurring revenue sales over the final quarter of FY21.

Of those sales, $1.3 million was from existing customers. The company said that shows it’s able to grow strong relationships with “blue-chip” customers.

Airports were Envirosuite’s largest customer base – bringing in $1 million. Some $500,000 came from waste and water management, $400,000 from mining, while its other customer segments brought in $400,000.

That brings Envirosuite’s total annual recurring revenue up to $46.5 million. It also recorded $2.4 million worth of non-recurring sales over the quarter.

The company said the results set the stage for it to continue its growth while minimising risk, cost, and complexity.

Unfortunately, despite the business performing well over the quarter, the Envirosuite share price fell 30% in the 3-month period.

Commentary from management

Envirosuite’s CEO Jason Cooper said of the results:

These results reflect our focus to build a culture of high performance. The increasing emphasis surrounding environmental, social and governance (ESG) criteria highlights the critical role Envirosuite plays in safeguarding the environment and communities. As we enter FY22, (Envirosuite) is well positioned to capitalise on these macro themes with renewed focus and discipline to continue delivering on our customer acquisition strategy to land, expand and scale accounts across all sectors.

Envirosuite share price snapshot

The Envirosuite share price has been struggling lately.

It’s currently 42% lower than it was at the beginning of 2021. It has also fallen 26% since this time last year.

The company has a market capitalisation of around $125 million, with approximately 1.1 billion shares outstanding.

The post Envirosuite (ASX: EVS) share price jumps 10% on record-breaking result appeared first on The Motley Fool Australia.

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• Here’s why the Bellevue Gold (ASX:BGL) share price is higher today

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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