The Sealink Travel Group Ltd (ASX: SLK) share price is sliding today following the release of the company’s financial year 2021 (FY21) results.

Right now, the Sealink share price is 5.33% lower than its previous close. The company’s shares are swapping hands for $9.49 apiece.

Sealink share price slumps despite 377% increase on profit

Here’s how the tourism and transport company performed in FY21:

• $1.17 billion of revenue – 88% more than the company reported for FY20
• Net profit after tax of $37.8 million, up 377% on that of FY20
• Earnings before tax, interest, depreciation, and amortisation (EBITDA) of $161 million – 58% higher than that of FY20
• 9  cent fully franked final dividend, bringing the total FY21 dividends to 16 cents per share

Sealink received $11.9 million from JobKeeper in FY21. It also got similar support from employee-focused schemes in Singapore and London.

Approximately 90% of Sealink’s FY21 revenue came from contracts with governments or blue-chip corporate counterparts.

The company ended the period with $103.4 million in cash and $19.4 million of borrowings.

What happened in FY21 for Sealink?

FY21 was a big one for Sealink and its share price. The company’s contract portfolio expanded in all 3 operating divisions.

It retained its Singapore Bulim bus contract and was awarded the contract for SembawangYishun.

It also commenced the up to 15-year contract to operate Brisbane’s CityCat, CityHopper, and Cross River ferry network.

Sealink renewed 3 significant bus contracts in Adelaide and added Adelaide’s Outer North bus services contract. It also commenced the operation of the newly-franchised Adelaide tram contract as part of a joint venture.

Additionally, the company renewed key strategic marine contracts in Townsville and Darwin, and also acquired Western Australia’s Go West Tours. Sealink believes Go West Tours may allow it to realise opportunities in the mining and resources sector.

Sealink states its zero emissions and demand-responsive transport through battery electric and hydrogen-powered buses is market-leading. A two-year electric bus pilot in a single New South Wales region was completed in June 2021. The pilot resulted in the NSW Government purchasing another 10 electric busses.

FY21 wasn’t all good though. There’s plenty of bad news that might be affecting the Sealink share price today.

COVID-19 impacts on the domestic and interstate travel markets challenged Sealink’s marine and tourism operations in FY21. However, domestic demand was strong when COVID-19 restrictions weren’t in place.

Government contracted bus services weren’t badly affected by COVID-19. Though, revenue from chartering and advertising fell. The company said extra bus services to accommodate social distancing offset some of the losses.

Sealink’s London segment faced dire challenges over FY21. The company retained 3 Transport for London routes and acquired 1 from a competitor. However, it lost 4 of its London routes.

What did management say?

Sealink’s CEO Clint Feuerherdt commented on the results driving the company’s share price lower today:

SeaLink has demonstrated the resilience of its operations and quality of its contracted earnings base in the face of an unprecedented global disruption. We have delivered on our objectives in a safe and responsible manner whilst positioning the Group to capitalise on opportunities as they present.

Whilst the Marine & Tourism division is exposed to the turmoil that the COVID-19 pandemic inflicts, SeaLink is well positioned to capture the heightened level of domestic travel demand, providing marine transport, holiday and general tourism product to very unique island destinations around the country.

I am very pleased with the way we anticipated, navigated, and repositioned to finish this year with a strong balance sheet that supports our growth strategy.

What’s next for Sealink?

Here’s what might drive the Sealink share price in FY22:

Sealink has placed Australia’s first order for 2 hydrogen fuel cell buses.

It has also placed an order for 31 battery electric buses, which will bring Sydney’s electric bus fleet to 55 in FY22.

Sealink is continuing to explore the possibility of installing solar systems on 6 Adelaide bus depots, as well as partnering with the South Australian Government to deploy hydrogen fuel cell buses in Adelaide.

The company is currently working at Joondalup Bus Depot to bring electric busses to Perth.

Finally, Sealink is continuing to lobby for competitive tendering for public bus transport in Queensland, Tasmania and the Australian Capital Territory. It is also looking to potentially expand its public transport footprint into the USA.

Sealink share price snapshot

Despite today’s fall, the Sealink share price has gained 42% year to date. It is also 111% higher than it was this time last year.

The post Sealink (ASX:SLK) share price falls 6% despite $37.8 million profit 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 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 Raiz Invest Ltd (ASX: RZI) share price has soared more than 8% in today’s trading session.

Investors are bidding shares in the company higher after it released its full-year results for FY21 earlier today.

Let’s take a look at what Raiz announced.

Strong growth in FY21 spurs Raiz share price higher

Here are some of the key metrics Raiz reported for FY21;

• 37% year on year (YOY) increase in Group Revenue of $13.4 million

• Global Active Customers up 87% YOY to 456,927

• Australian funds under management (FUM) up 76% YOY to $799.6 million

• Superannuation FUM up 53% YOY to $106.6 million

• Micro Investing Platform segment revenue up 40% YOY to $11.4 million

• Revenue Per Customer (run rate) in Australia up 32% YOY

Raiz also highlighted its strong balance sheet, noting cash on hand of $19.4 million as of 30 June 2021.

What happened in FY21 for Raiz?

In its results presentation, Raiz noted that growth in FY21 was fuelled by its Australian operations.

Throughout the financial year, the company noted implementing a number of features to increasing customer engagement.

Raiz introduced Custom Portfolios in Australia due to attract new customers and FUM. The company also introduced the onboarding of self-managed superannuation funds (SMSFs).

In addition, the company also launched its Raiz Home Ownership business in FY21, which focuses on helping first homeowners enter the property market.

Raiz also reported continued growth across Southeast Asia for FY21, despite the ongoing impacts of Covid-19.

During the March quarter, Raiz introduced new payment gateways in Indonesia to help facilitate recurring payments and improve customer experience.

What did management say?

Managing Director and CEO of Raiz George Lucas noted:

In Australia, we remain on track to hit our goal of $1 billion of FUM by the end of 2021. We see the Superestate acquisition, the first in our five-year history, as an important component in our domestic strategy going forward. In addition to giving us more FUM and Active Customers, it will allow us to offer residential property as an asset class and enhance our data analytics.

What’s next for Raiz?

Raiz is an Australian financial technology (fintech) company that provides users with a mobile-focused micro-investing platform.

The company charges users a flat monthly investment fee which comprises more than 60% of the company’s revenue. As a result, FUM and active customers are key metrics to the company’s ability to generate recurring revenue.

Raiz highlighted that the company remains focused on growing its business across all geographies.

The company plans to follow low-cost customer acquisition to drive new growth and also highlighted various new product developments heading into FY22.

At the time of writing, the Raiz share price is trading more than 7.5% higher for the day.

Shares in Raiz were up more than 8% earlier, after hitting an intraday high of $2.09.

Since the start of the year, shares in Raiz have surged more than 116% in 2021.

The post Raiz (ASX:RZI) share price rockets on FY21 results appeared first on The Motley Fool Australia.

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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 Afterpay Ltd (ASX: APT) share price is trading lower on Wednesday following the release of its full year results.

In afternoon trade, the buy now pay later (BNPL) provider’s shares are down 1% to $133.78.

What happened in FY 2021?

Afterpay was on form again in FY 2021 and delivered further strong growth in most key metrics.

For the 12 months ended 30 June, Afterpay’s underlying sales grew 90% (or 102% in constant currency) year on year to $21.1 billion.

This was driven by a 146% increase in North American underlying sales to $9.8 billion, a 44% jump in ANZ underlying sales to $9.4 billion, and a 227% jump in Clearpay underlying sales to $1.8 billion.

Underpinning this growth was a 63% increase in active customers to 16.2 million. This reflects an 88% jump in North America to 10.5 million, a 104% increase in Clearpay customers to 2.1 million, and a more modest 8% lift in ANZ customers to 3.6 million.

Afterpay reported a net margin of $434.1 million, which was up 74% year on year. This was the result of its strong underlying sales growth, which was offset slightly by a reduction in its net margin ratio from 2.3% to 2.06%.

Finally, underlying EBITDA came in at $38.7 million, down 13% year on year.

How does this compare to expectations?

According to a note out of Ord Minnett, Afterpay fell short of its earnings expectations in FY 2021.

The broker was expecting underlying EBITDA of $75.4 million, which is almost double what the company actually achieved. This miss was due to higher than expected costs. However, because of the takeover approach from Square, it didn’t expect the Afterpay share price to come under meaningful pressure for this miss.

Also missing expectations was its net margin of 2.06%. According to a note out of UBS, its analysts were expecting a margin of 2.25% for the year, whereas the market consensus stood at 2.12%. UBS notes that this was driven by its net transaction loss increasing from 38bps of underlying sales in FY 2020 to 63bps in FY 2021.

Finally, the team at Wilsons note that Afterpay’s revenue was ahead of its expectations by approximately 2%.

However, although Afterpay beat its revenue expectations in FY 2021, the broker suspects that its forecasts for FY 2022 might be asking too much of the company. This is due to the broker’s concerns that its US customer growth could be peaking after a flat finish to the year.

Overall, a bit of a mixed result in comparison to the market’s expectations. Though, with Square acquiring the company, this hasn’t had a great impact on the Afterpay share price today.

The post How does the Afterpay (ASX:APT) result compare with broker expectations? 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 AFTERPAY T FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T 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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Motley Fool Australia Chief Investment Officer Scott Phillips joined Nine’s Late News on Tuesday night to discuss earnings from Nanosonics Ltd (ASX: NAN), Kogan.com Ltd (ASX: KGN), and a pause — for now — in the fall of the iron ore price.

The post Nanosonics flies, Kogan crashes and iron ore in the doldrums. Scott Phillips on Nine’s Late News appeared first on The Motley Fool Australia.

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Motley Fool contributor Scott Phillips owns shares of Kogan.com ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Kogan.com ltd and Nanosonics Limited. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd and Nanosonics 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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It has been a tough month for the Woodside Petroleum Ltd (ASX: WPL) share price. A collection of developments appears to have rubbed the market the wrong way so far in August.

Specifically, Woodside shares have slid 8.7% since the first trading day of this month. In price terms, the company’s value has fallen from $22.14 per share to $20.24. Unfortunately, the downwards trend is continuing today, with the Woodside share price down 0.34% at the time of writing.

Let’s take a closer look at what has dampened market sentiment towards the oil and gas company in August.

The month so far for Woodside

The disappointing performance of the Woodside share price in July has only accelerated in August.

At the beginning of the month, it appeared as though shareholders might have more luck in August. Between 2 August and 13 August, shares in the oil and gas company gained 0.23%.

However, the wheels fell off the optimism bus after it appeared more likely that Woodside would be acquiring BHP Group Ltd‘s (ASX: BHP) petroleum business. At the same time, Santos Ltd (ASX: STO) and Oil Search Ltd (ASX: OSH) were working on their own mega-merger.

Some substantial shareholders of Woodside even voiced concerns and discontent for the rumoured proposition. A ~$20 billion proposition that produced concerns regarding a mature asset base, declining production, and heightened exposure to ESG risks. Likely these concerns were shared more broadly, weighing on the Woodside share price.

Then came the barrage of news, all landing on 18 August. This included the confirmation of the BHP oil and gas merger, FY21 half-year results, and new permanent leadership.

Although the company’s results looked reasonable — especially its return to profitability — the Woodside share price fell 3.4% during the session.

All in all, shareholders have been left with a lot to consider moving forward. Often unpredictability weighs on equity prices and, for the time being, there is a mound of unknowns for the company as it takes on its new form.

Woodside share price snapshot

Despite a negative thus far, the Woodside share price is still holding onto positive returns over the past year.

At the time of writing, shareholders are 1.2% ahead for the past 12 months. In comparison, the S&P/ASX 200 Index (ASX: XJO) has delivered a 22% return to more passive investors.

The post It hasn’t been a great month so far for the Woodside (ASX:WPL) share price 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 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 HUB24 Ltd (ASX: HUB) share price is rocketing higher on Wednesday.

At the time of writing, the investment platform provider’s shares are up 12% to a record high of $31.22.

This means the HUB24 share price is now up 44% since the start of the year.

Why is the HUB24 share price rocketing higher?

Today’s gain by the HUB24 share price appears to have been driven by a positive response to its full year results by brokers.

In case you missed it, on Tuesday HUB24 reported a 34.4% increase in revenue to $110 million, a 47% lift in EBITDA to $58.6 million, and a net profit after tax of $9.8 million.

This was driven partly by a 141% increase in platform FUA to $41.4 billion.

What was the response?

The team at Goldman Sachs responded positively to the result. This is despite HUB24 falling short of its earnings expectations.

Goldman said: “While FY21 underlying NPAT of A$15.0m was 18% below our estimate (A$18.2m), we saw the c.3% miss at the underlying EBITDA line as more representative of the core operational trend (with the bulk of the delta to our headline estimate explained by higher tax, share based payments and D&A). Nonetheless as a result of the headline miss the final DPS of A5.5c (fully franked) was below our A7.2c estimate representing an FY21 payout ratio of 46%.”

In response, Goldman retained its buy rating and lifted its price target on the company’s shares to $29.81.

What else did the broker say?

Goldman was pleased to see the introduction of HUB24’s guidance for FY 2023. And while it notes that the company’s guidance was largely in line with its own expectations, it was notably ahead of the consensus.

The broker said: “Looking ahead, HUB introduced platform FUA guidance to FY23 of A$63-$70bn, noting that at Aug-21, platform FUA of A$44.2bn has already reached prior FY22 guidance for A$43-$49bn. HUB note the guidance does not rely on any large one-offs or a big contribution from the new IFL whitelable agreement. Prior to this morning our FY23 estimate of A$65bn was consistent with the new range, though we note Visible Alpha Consensus Data at just A$55bn suggests scope for meaningful upgrades, and we have since moved our assumption up to A$69bn.”

“On balance, with risks to flows/FUA still clearly to the upside we expect HUB’s near term margin/earnings growth trajectory to remain robust even with the elevated investment over FY22. While the 2H21 result was soft relative to our estimates, on account of higher FUA and platform revenue margin assumptions our earnings are largely unchanged, with our FY22/FY23 adjusted EPS down 2.3%/0.4% respectively (and we introduce FY24 estimates).”

Can the HUB24 share price go higher?

Unfortunately, the HUB24 share price has quickly surpassed Goldman’s price target. This appears to indicate that its shares are fully valued now.

And while Morgans has upgraded its shares to an add rating with a $31.65 price target, this is only a fraction ahead of where the HUB24 share price trades now.

The post Why the HUB24 (ASX:HUB) share price is rocketing to a record high 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 Hub24 Ltd. The Motley Fool Australia has recommended Hub24 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 Coles Group Ltd (ASX: COL) share price is slipping in afternoon trade, down 1.78% to $17.935 per share.

At the same time the S&P/ASX 200 Index (ASX: XJO) is edging higher, up 0.2%.

Below, we take a look at the ASX 200 retailer’s refinancing announcement.

What refinancing package did Coles report?

In an ASX announcement today, which may not be directly impacting Coles’ share price, the company said it has replaced existing debt facilities with a total of $1.3 billion, 4-year Sustainability Linked Loans (SLL) under its bilateral debt facilities.

Coles has previously stated it is working to become Australia’s most sustainable supermarket. In line with that, it said the new $1.3 billion SLL “draws a direct line” between its sustainability performance and its cost of capital.

The SLL is intended to increase transparency and accountability around environmental, social and governance (ESG) matters.

Coles’ focus is on reducing CO2 emissions, decreasing the amount of waste that goes to landfill, and increasing the representation of women in its leadership positions.

Commenting on the SLL refinancing, Coles’ chief financial officer Leah Weckert said:

Coles believes that sustainable businesses are better businesses, and our Sustainability Linked Loans reflect our commitment to working with all our stakeholders to make positive changes.

The SLL incentive structure is linked to our progress against company-wide sustainability goals with delivery of those goals delivering improved cost of capital, and is therefore an effective tool for driving sustainability throughout our business.

Australia and New Zealand Banking Group Ltd (ASX: ANZ), BNP Paribas and Rabobank acted as sustainability coordinators for the transaction.

Coles share price snapshot

The Coles share price is down 1.38% year-to-date, compared to a gain of 12.5% posted by the ASX 200. Coles shares are still recovering from a 15% fall in the latter weeks of February, following the release of its half-year financial results that appeared to disappoint investors.

Over the past month, Coles’ share price is up 1.6%.

Coles pays a 3.2% annual dividend yield, fully franked.

The post Coles (ASX:COL) share price slides amid $1.3 billion sustainability refinancing 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 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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The Propel Funeral Partners Ltd (ASX: PFP) share price is in the green after the company released its financial year 2021 (FY21) results this morning.

Right now, the Propel share price is trading at $3.62, up 4.93%.

The Propel share price jumps on solid results

Here’s how the death care services company performed during FY21:

• Revenue of $120.4 million, up 8.7% on the prior year
• Operating earnings before interest, tax, depreciation, and amortisation (EBITDA) of $36.3 million, up 11.9% on that of FY20
• Operating net profit after tax of $15.3 million, up 7.6%
• Fully franked final dividend of 5.75 cents per share. Adding to the company’s total FY21 dividends of 11.75 cents. Up from 10 cents per share in FY20

Propel saw its average revenue per funeral increase 4.3% over FY21, reaching $5,917. That figure is also 2.8% higher than Propel’s average cost per funeral in pre-COVID-19 times.

The company’s operating costs also increased to $3.3 million in FY21.

Propel ended the period with $7.4 million of cash and $79 million of debt.

What happened in FY21 for Propel?

FY21 was a busy year for Propel and its share price.

The company spent $29.6 million on 3 acquisitions in Australia and New Zealand.

In October, it acquired Mid West Funerals, a funeral provider based in Geraldton, Western Australia. In November, Propel acquired Dils Funeral Services, which provides funeral directing and cremation services in Auckland.

Finally, in December, it made a foray into the pet funeral industry, acquiring Queensland’s Pets RIP, a pet cremation provider in Toowoomba and Ipswich.

Propel also purchased 2 properties in FY21 for a total of $4.25 million, excluding stamp duty.

In addition, the company became internally managed. Previously, Propel had been under the control of Propel Investments Pty Ltd. Propel had to pay the management company a $15 million termination fee, which was settled 50% in cash and 50% in Propel shares.

The company also increased its senior debt facilities with Westpac Banking Corporation (ASX: WBC) by $50 million to $200 million and extended the maturity date to October 2024.

Propel performed 13,916 funerals in FY21, up 4.6% on FY20. However, death volumes were below long-term trends in the company’s key markets. Propel stated this was due to social distancing, travel restrictions, an increased focus on hygiene, and flu vaccinations causing the last 2 flu seasons to be benign.  

What did management say?

Propel’s chair Brian Scullin, and managing director Albin Kurti, made joint comments on the results today, saying:

During FY21, the funeral industry continued to experience operational disruptions and uncertainty, following lockdowns across multiple jurisdictions which resulted in varying funeral attendee limits, travel restrictions, and social distancing directives aimed at curbing the spread of COVID-19.

Measures were implemented to mitigate potential operating and financial impacts from the pandemic. These measures, combined with the company’s diversification in providing essential funeral and related services across seven states and territories of Australia and in New Zealand, including regional and metropolitan markets, delivered considerable resilience in earnings and operating cash flows…

They said demand for death care services was expected to grow in Australia and New Zealand because of “increasing death volumes due to population growth and ageing of the baby boomers”.

The death care industry is highly fragmented with over 1,000 establishments in Australia and many hundreds in New Zealand. The company believes there is significant opportunity for further consolidation in Australia and New Zealand and Propel is well-positioned to capitalise on the acquisition opportunities.

What’s next for Propel?

Here’s what might drive the Propel share price in FY22:

For the year ending 30 June 2022, Propel expects death volumes to revert to long term trends. The company provided “a new record number of funerals” in July.

However, the company expects COVID-19 restrictions will continue impacting its business.

It also aims to complete more acquisitions to gain a greater hold on the fragmented funeral industry.

Propel share price snapshot

The Propel share price has gained 27% year to date. It has also gained 27.9% since this time last year.

The post The Propel Funeral Partners (ASX:PFP) share price lifts 5% on FY21 performance 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 Propel Funeral Partners Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) has a very active contributor to its performance today. That would come from the WiseTech Global Ltd (ASX: WTC) share price.

WiseTech shares have exploded this morning, up a whopping 40% to $50.68 a share. And investors might have WiseTech’s dividend to thank.

The WiseTech share price was up even higher earlier this morning. An hour or so after market open, this WAAAX share hit a new all-time high of $57.31 a share which put the company up more than 58% on yesterday’s closing price.

But $50.68 is where the company will stay, at least for now. That’s because just before midday, WiseTech announced it has requested a trading halt for its shares “pending a further announcement”. That’s all we know about that right now.

WiseTech shares explode after 141% dividend increase

So, putting the trading halt aside, what has sparked such a rush into this tech company? WiseTech’s FY2021 earnings report of course.

As we covered extensively earlier today, WiseTech delivered its FY21 numbers this morning before market open. And, as evidenced by today’s initial share price reaction, they were impressive.

WiseTech managed to deliver an 18% increase in revenues to $507 million, as well as a 63% rise in earnings before interest, tax, depreciation and amortisation (EBITDA) to $206 million.

But WiseTech also set tongues a wagging with a 141% increase to its final dividend. The company will dole out a payment of 3.85 cents per share, fully franked and representing a payout ratio of 20% of underlying profits, on 8 October.

That will bring the total dividends for FY21 to 6.55 cents per share. That represents an annual yield of 0.13% on the current WiseTech share price.

Even so, this smashes what the company has paid out previously. For example, total dividends for FY2020 came in at 3.3 cents per share. For FY2019, it was 3.45 cents per share.

This new WiseTech dividend could well have contributed to the stunning share price gains investors have enjoyed this morning.

At the current WiseTech Global share price, the company has a market capitalisation of $16.47 billion, and a trailing dividend yield of 0.085%.

The post WiseTech Global (ASX:WTC) just raised its dividend by 141% appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen 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 WiseTech Global. The Motley Fool Australia owns shares of and has recommended WiseTech Global. 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 Webjet Limited (ASX: WEB) share price has soared more than 5% in today’s session.

In addition, shares in the online travel company have had a stellar week thus far.

Let’s take a look at what could be pushing the Webjet share price higher today.

Possibility of Christmas travel boosts Webjet share price

Webjet has not released any price-sensitive news that could explain today’s bullish price action.

As a result, shares in the online travel company could be flying on the prospect of interstate travel by Christmas.

According to an article in the AFR, Prime Minister Scott Morrison has urged states and territories to adhere to the national plan.

Based on 80% of the population being vaccinated, the national plan outlines unrestricted domestic travel for vaccinated Australians.

The prospect of interstate travel by December bodes well on the outlook for travel companies like Webjet.

This news follows reports earlier this month that New Zealand may re-open its borders to international travellers in the near future.

Snapshot of the Webjet share price

In addition to today’s bullish price action, shares in the online travel company have had a stellar week thus far.

Since the start of the week, the Webjet share price has soared more than 16%.

As noted previously, Webjet hasn’t released any price-sensitive news that could explain the share price movement.

However, it is important for investors to note that shares in Webjet are the most shorted on the market.

According to the most recent data, Webjet’s share registry holds an 11.4% short interest.

As a result, the recent lift in Webjet’s share price could be the result of short-sellers reducing their risk.

Earlier this year, Webjet released its full-year result for FY21.

The company’s report was headlined by an earnings before interest, taxes, depreciation, and amortisation (EBITDA)  loss of $125.3 million.

Prior to the Delta variant outbreak in New South Wales and Victoria, Webjet was enjoying a prosperous few months.

In addition, the company also announced a new strategy earlier this year to help counter the pandemic.

Under this strategy, Webjet noted the pivot towards business-to-business opportunities through its WebBeds business.

With domestic and international travel restrictions still in place, the only reprieve for the Webjet share price is the rate of vaccinations.

Despite these disruptions, the Webjet share price remains more than 10% higher for the year.

The post Here’s why the Webjet (ASX:WEB) share price is taking off today appeared first on The Motley Fool Australia.

More reading

• These are the 10 most shorted ASX shares
• What could Sydney Airport’s results mean for Webjet (ASX:WEB) shares?
• How has the Webjet (ASX:WEB) share price beaten the ASX 200?
• Webjet (ASX:WEB) share price tumbles amid latest lockdown woes
• These are the 10 most shorted ASX shares

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 owns shares of and has recommended Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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