ASX technology shares have had a mixed run this earnings season. Investors have been quick to distance themselves from companies perceived as underperforming. Equally, they’ve flocked to those showing signs of outperformance.

The ASX’s most well-known tech shares are the WAAAX shares — the Australian equivalent to the United States’ FAANG stocks. WAAAX shares comprise WiseTech Global Ltd (ASX: WTC), Afterpay Ltd (ASX: APT), Altium Limited (ASX: ALU), Appen Ltd (ASX: APX), and Xero Limited (ASX: XRO).

All except Xero reported their full-year results in August. Xero’s financial year ends 31 March 2022. 

How have ASX technology shares performed against the market?

The ASX share market has climbed steadily in 2021, with the All Ordinaries Index (ASX: XAO) now up 12% from 1 January.

But the performance of ASX technology shares has varied greatly. The WiseTech share price is up 59% for the year, and shares in Altium are down 6%. The Afterpay share price has lifted 9% in 2021, while the Appen share price has slumped 59%. The Xero share price is close to the levels seen at the start of the year.

The share price reactions to company results demonstrate how technology is by nature a more volatile sector of the market.

Who are the tech winners this earnings season? 

The Wisetech share price shot up 28% in a day after the release of its full-year results last month. Total revenues increased 24% to $507.5 million. This was at the top end of WiseTech’s guidance range of $470 million to $510 million.

The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) grew 63% to $206.7 million thanks to a recovery in global trade. The logistics software provider also reported a 101% increase in underlying net profit after tax (NPAT), which reached $105.8 million.

It appears disruption in the freight industry is driving demand for integrated global software solutions like WiseTech’sCargoWise platform. The company advised that growth in recurring revenue was being driven by the CargoWise platform, which has delivered compound annual growth of 31% in recurring revenue between FY16 and FY21. 

Afterpay was another big winner this earnings season, reporting a 90% increase in underlying sales in FY21. Although the buy now, pay later behemoth has yet to turn a profit, it is set to be taken over by US fintech Square Inc (NYSE: SQ) in a $39 billion deal announced in July.

Afterpay shares jumped 32% in the two days following the announcement and have traded at around $130 in the period since.

During FY21, approximately 25,000 customers joined Afterpay’s platform each day. Over the full year, customer numbers increased 63%, Afterpay reporting 16.2 million active customers at the end of FY21. Nonetheless, the company reported a statutory loss after tax of $159.4 million. 

And the losers? 

Altium shares dived at the end of August when the release of its audited accounts was delayed. The Altium share price fell more than 14% in a day to below $30 even as the software designer announced it had delivered on full-year guidance.

Over the full year, Altium reported revenue of US$191 million, representing growth of 16%. Profit after tax increased by 79% to US$35.3 million. Altium earnings per share (EPS) increased 78% to 26.89 US cents per share, and the company declared a dividend of 40 cents per share.  

Appen shares also fell on the release of half-year results, the Appen share price dropping more than 20% in a day. The artificial intelligence and machine learning company reported a 2% drop in revenues as customers allocated resources to non-advertising projects.

Appen’s earnings were also impacted, with underlying EBITDA down 14.3% to $27.7 million, due to higher costs related to growth investments. Underlying NPAT fell 35% to $12.5 million due to increased amortisation associated with investment in product development.

The company declared an interim dividend of 4.5 cents a share, 50% franked. This is on par with the 2020 interim dividend. 

Looking ahead

WiseTech has provided guidance of $600 – $635 million in revenue in FY22, representing 18% – 25% growth compared to FY21. EBITDA of $260 – $285 million is forecast, representing 26% – 38% growth.

Altium is also predicting a return to strong pre-COVID growth in fiscal 2022. The company has provided revenue guidance of US$209 million to US$217 million (16% – 20% growth). Altium is continuing to target 100,000 subscribers by 2025, which it says will compel key industry stakeholders to support its agenda. 

Square’s acquisition of Afterpay is expected to close in the first quarter of calendar 2022, with Afterpay shareholders to receive 0.375 shares of Square Class A common stock for each Afterpay ordinary share they hold.

Square will establish a secondary listing on the ASX following the acquisition, which will allow Afterpay shareholders to trade Square using CHESS Depository Interests.

In FY22, Afterpay plans to scale and unlock further growth opportunities as it expands its global footprint. North America is now the largest contributor to underlying sales, overtaking Australia and New Zealand. 

Appen reduced previous full year EBITDA guidance last month. It now expects EBITDA to be $81 million to $88 million. This is down from $83 million to $90 million guided in February, which Appen says is due to investment in product and market expansion.

Year to date revenue plus orders for delivery in FY21 totalled approximately $360 million in August. This was 10% above August 2020 guidance of $328 million, which was 79% of full-year 2020 revenue. Appen had no debt and a cash balance of $66 million as at 30 June 2021, leaving it well-positioned to grow in new markets and geographies.

The company said it was strongly positioned for the long term, set to benefit from industry tailwinds and the delivery of automation and scalability from its AI-enabled product suite. 

The post How have ASX technology shares performed during the August 2021 earnings season? appeared first on The Motley Fool Australia.

More reading

• 3 excellent ASX 200 (ASX:XJO) shares worth a closer look
• 2 highly rated ASX growth shares to buy
• Here’s why Afterpay (ASX:APT) is making news again
• 2 fantastic ASX 50 shares that analysts rate as buys
• How have ASX BNPL shares performed during the August 2021 earnings season?

Motley Fool contributor Katherine O’Brien owns shares of Altium and Appen Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, Altium, Appen Ltd, WiseTech Global, and Xero. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO, Altium, Appen Ltd, WiseTech Global, and Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3tmTZRj

If you’re on the lookout for S&P/ASX 200 Index (ASX: XJO) shares to add to your portfolio, then the three listed below could be worth a closer look.

Here’s what you need to know about these top ASX 200 shares:

Altium Limited (ASX: ALU)

The first ASX 200 share to look at is Altium. It is an electronic design software provider. Altium is best-known for its Altium Designer and Altium 365 platforms. These platforms are regarded as the best in the industry and are used by many of the world’s largest companies. This includes the likes of BAE Systems, Microsoft, and Tesla. Thanks to these platforms, the company looks well-placed for growth over the next decade. Particularly given the internet of things and artificial intelligence markets. These are driving demand for electronic design software.

CSL Limited (ASX: CSL)

Another ASX 200 share to consider is CSL. It is one of the world’s leading biotechnology companies, comprising the CSL Behring and Seqirus businesses. Both are leaders in their respective fields – plasma therapies and vaccines. While plasma collection headwinds continue to weigh on collections and investor sentiment, CSL appears well-placed for growth once conditions ease. Particularly given its lucrative R&D pipeline. Thanks to an annual investment of close to US$1 billion, this pipeline is filled with potentially lucrative products.

REA Group Limited (ASX: REA)

A final ASX 200 share to look at is REA Group. It is the dominant player in real estate listings in the Australian market. REA looks well-placed for growth in the coming years thanks to the booming housing market, new revenue streams, cost cutting, price increases, and its international operations. In addition, the company has been busy making acquisitions recently. This has strengthened its offering, particularly in mortgage broking.

The post 3 excellent ASX 200 (ASX:XJO) shares worth a closer look appeared first on The Motley Fool Australia.

More reading

• 2 fantastic blue chip ASX 200 (ASX:XJO) shares to buy in September
• Leading broker reveals why these 10 big-name shares have been firing up its clients
• When was the best day ever on the CSL (ASX:CSL) share price chart?
• ASX 200 Weekly Wrap: ASX puts earnings season to bed with another rise
• Top brokers name 3 ASX shares to buy next week

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 Altium and CSL Ltd. The Motley Fool Australia owns shares of and has recommended Altium. 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.

from The Motley Fool Australia https://ift.tt/38LZBuU

The Bannerman Energy Ltd (ASX: BMN) share price travelled in the green during afternoon trade on Wednesday.

Whereas the S&P/ASX 200 Index (ASX: XJO) has slipped 0.5% into the red over the past week, Bannerman shares have climbed 37%.

Let’s investigate further.

A quick recap on Bannerman Energy

Bannerman Energy is in the minerals exploration business and has projects located in Namibia.

It has the majority of its interests tied up in uranium assets, particularly open-pit uranium operations.

At market close on Wednesday, Bannerman has a market capitalisation of $289 million.

What tailwinds are behind the Bannerman Energy share price?

The Bannerman share price has been on a wild ride over the last month. In early August, the company released feasibility study results at its Etango-8 Uranium Project in Namibia.

In the report, Bannerman advised the study “confirms strong technical and economic viability of conventional open-pit mining.”

It also recognised a “maiden Etango-8 ore reserve” declaration of 117.6 million tonnes (Mt) at 232 parts-per-million (ppm) uranium for “60.3 million pounds (Mlbs)” of uranium.

As such, Bannerman is drawn to the “attractive economics” of a potential US$65 per pound of uranium, which signals a post-tax net present value (NPV) of US$222 million and post-tax internal rate of return (IRR) of 20.3%.

The company forecasts a net project cash flow of US$642 million from these calculations, after capital expenditures and tax.

Don’t forget the recent prices of uranium

Given that Bannerman is an ASX resources share that produces commodities, it can be labelled as a “price taker”.

This means its share price can fluctuate with the price of the underlying commodity cycles it has interests in, as is the case with many other minerals players.

Looking at the charts, we can see uranium spot prices have soared to 5-year highs since mid-August.

Uranium spot is now commanding US$40.05 a pound. This is a significant 33% up-step from the previous low of $30.08 on 16 August.

This relationship between the volatility of commodities and their producers’ share price generally has a lag.

That simply means that changes underlying commodity prices may be reflected in the respective industry’s share basket a short time afterwards – usually a few days.

We can see this phenomenon in the case of the Bannerman share price, as it made its move upwards on 27 August. This was around 11 days after the big increase in uranium spot prices.

Given Bannerman’s concentrated exposure to uranium assets and the fact it is a price taker on uranium, it starts to make sense why the Bannerman share price has climbed almost 40% in the last month.

Bannerman Energy share price snapshot

The Bannerman Energy share price has climbed 155% this year to date, extending the previous 12 months’ gain to 515%.

These results have far outpaced the ASX 200 return of around 25% over the past year.

The post Here’s why the Bannerman Energy (ASX:BMN) share price has surged 37% in a week appeared first on The Motley Fool Australia.

More reading

• 2 highly rated ASX growth shares to buy
• ASX 200 falls, Macquarie jumps, Aussie Broadband climbs
• Here are the 3 heaviest trading ASX 200 shares today
• Why the Boral (ASX:BLD) share price is down 17% in a month
• Here are the top 10 ASX 200 shares on Wednesday

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.

from The Motley Fool Australia https://ift.tt/2WX6ebG

Investors searching for growth shares, might want to take a look at the shares named below.

They have been growing at a strong rate in recent years and continue this trend over the remainder of the 2020s.

Here’s what you need to know about these ASX growth shares:

Appen Ltd (ASX: APX)

Appen could be a growth share to look closer at. It is a leading developer of high-quality, human annotated datasets for machine learning and artificial intelligence (AI). Through its team of skilled contractors, Appen prepares or creates the data for the machine learning models of some of the largest tech companies. These includes Amazon, Facebook, and Microsoft.

While the pandemic has put a dampener on demand, a rebound is expected post-pandemic. So with the Appen share price down significantly from its highs, now could be an opportune time to consider an investment.

The team at Citi appear to believe this is the case. They currently have a buy rating and $18.80 price target on its shares. This is significantly higher than where the Appen share price currently trades.

ResMed Inc. (ASX: RMD)

Another ASX growth share to look at is this sleep treatment-focused medical device company. Thanks to ResMed’s industry-leading products, growing software business, and the increasing awareness of sleep disorders, it has been growing at a strong rate for a good number of years.

Pleasingly, it still has a significant market opportunity to grow into over the next decade and beyond. Management estimates that there are ~1 billion people suffering from sleep apnoea worldwide, with only ~20% of these sufferers currently diagnosed. It also looks well-placed to benefit from the shift to home healthcare and a major product recall from a key rival.

Morgans is a fan of ResMed. In response to its full year results last month, the broker put an add rating and $41.34 price target on its shares.

The post 2 highly rated ASX growth shares to buy appeared first on The Motley Fool Australia.

More reading

• ASX 200 flat, Aussie Broadband shares halted, Openpay rises
• Why Appen, BlueScope, Fortescue, & Marley Spoon shares are dropping
• ASX 200 midday update: BHP & Fortescue fall, Flight Centre storms higher
• Here’s why the ResMed (ASX:RMD) share price is in the green today
• Why AnteoTech, Appen, Aussie Broadband, & Tyro shares are charging higher

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. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia owns shares of and has recommended Appen Ltd. The Motley Fool Australia has recommended ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3yTYQKI

The S&P/ASX 200 Index (ASX: XJO) fell by 0.25% today to 7,512 points.

Here are some of the highlights from the ASX:

Macquarie Group Ltd (ASX: MQG)

The Macquarie share price was a highlight in the ASX 200 today after giving an update about its FY22 operating performance. It rose by almost 5%.

Macquarie said that it expects the first half of FY22 to be slightly down on the second half of FY21. However, that actually represents a large increase year on year.

The investment bank’s asset management division is expecting its base fees to be broadly in line. Waddell & Reed is not expected to add much to net profit in FY22 because of integration and one-off costs.

In Macquarie Capital, it’s expecting improved transaction activity to continue through FY22. Management are also seeing an improved outlook for investment realisations and increased balance sheet deployment, with investment-related income expected to be significantly up on FY21.

The banking and financial services division is experiencing ongoing momentum in its loan portfolio and platform volumes. But there are still competitive dynamics that are driving margin pressures. Macquarie is still monitoring provisioning due to the COVID-19 environment. The bank is also expecting higher expenses to support volume growth, technology investment and increased regulatory investment.

Macquarie’s commodities and global markets division is expecting that commodities income is expected to be down after a strong FY21, though volatility could create opportunities. The ASX 200 investment bank said that favourable market conditions are contributing to a stronger FY22 commodities and global markets result than anticipated.

Aussie Broadband Ltd (ASX: ABB)

The Aussie Broadband share price rose 3.7% today after coming out of its trading halt for a capital raising.

The institutional placement is raising $114 million and the share purchase plan for regular investors was capped at $10 million.

Aussie Broadband said that it has a strong and developing pipeline of acquisition opportunities. It has identified several potential options that would add to earnings and it intends to pursue these after completing its capital raising.

It’s in preliminary discussions with a range of targets of various sizes to acquire telecommunication businesses in the residential, business and enterprise segments. These acquisitions could add key product to capabilities. Aussie Broadband is expecting to make at least one acquisition in the first half of FY22.

The majority of the capital raised will be used for acquisitions.

This capital raising is being conducted at a price of $4 per new share, representing a 13.6% discount to the last closing price.

Synlait Milk Ltd (ASX: SM1)

The Synlait share price started the day up 2%, but finished 1% lower after announcing potential job cuts.

The dairy business said it has commenced a consultation process to improve its organisational restructure.

This proposed structure would see Synlait’s overall headcount reduce by approximately 15% and generate potential annual savings of approximately $10 million to $12 million.

Synlait CEO John Penno said:

Synlait has been through a lot over the last 12 months. This means some areas are now over resourced, and some areas are under resourced. We need to review and reset the structure of our business to match our current goals to be successful.

The business is currently discussing the proposed changes with impacted team members and union representatives. This process will take place over the next two weeks.

The post ASX 200 falls, Macquarie jumps, Aussie Broadband climbs appeared first on The Motley Fool Australia.

More reading

• Here are the 3 heaviest trading ASX 200 shares today
• Here are the top 10 ASX 200 shares on Wednesday
• Which ASX shares are making a move on the ASX 300?
• Why Aeris Resources, Macquarie, Novonix, & Qube shares are pushing higher
• ASX 200 midday update: Macquarie jumps, gold miners sink

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Aussie Broadband Limited. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool Australia has recommended Aussie Broadband Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3BOnrCM

The S&P/ASX 200 Index (ASX: XJO) has continued this week’s run of bad form on Wednesday. The ASX 200 finished the day down 0.24% to 7,512 points. Let’s not cry over spilt milk though. Instead, let’s check out the ASX 200 shares that are topping the charts today in terms of trading volume.

The 3 heaviest trading ASX 200 shares today

Telstra Corporation Ltd (ASX: TLS)

Our first ASX 200 share up today is the telco giant Telstra. This Wednesday has seen a substantial 23.98 million shares swap hands. That’s despite an absence of any major news or announcements out of the telecommunications company today.

In saying that, Telstra shares are defying the broader market today. Telstra finished the day up a healthy 0.51%, trading at $3.94. Although it finished the day up, Telstra was down for most of the morning today. It’s probably this volatility that is behind so many Telstra shares trading.

South32 Ltd (ASX: S32)

ASX 200 miner South32 is next up on our list. South32 has seen a sizeable 24.92 million of its shares bought and sold this Wednesday. Again, that’s despite no major news or announcement out of the company.

However, we are seeing a big move with the South32 share price today. Just like Telstra, this miner is defying the broader market, and finished the day up 2.13%, trading at $3.36. It’s probably this hefty rise that is behind so many shares trading on the markets.

Oil Search Ltd (ASX: OSH)

Finally, we have ASX 200 energy share Oil Search as our top trading share this Wednesday. Oil Seach has had a rather unusually volatile day of trading today. Its shares were down 0.8% at one point, and finished the day up 0.27%, trading at $3.75. This volatility has likely sparked the 26.21 million shares that have changed owners this Wednesday.

The post Here are the 3 heaviest trading ASX 200 shares today appeared first on The Motley Fool Australia.

More reading

• ASX 200 falls, Macquarie jumps, Aussie Broadband climbs
• Here are the top 10 ASX 200 shares on Wednesday
• Santos (ASX:STO) share price slides despite latest clean energy spruik
• ASX 200 midday update: Macquarie jumps, gold miners sink
• Leading broker reveals why these 10 big-name shares have been firing up its clients

Motley Fool contributor Sebastian Bowen owns shares of Telstra Corporation Limited. 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 Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/2WYyzxV

The Boral Ltd (ASX: BLD) share price finished the day down 2.17% on Wednesday, at $5.86 per share.

While the building products and construction materials company eked out a 0.7% gain yesterday, the Boral share price remains down 17% over the past month.

Below, we take a look at some of the recent headwinds buffeting the company.

What headwinds has Boral faced recently?

Boral’s share price looks to have come under some pressure with S&P Dow Jones Indices’ pending changes to the S&P/ASX Indices.

That will see Boral exit the ASX 100 Index, replaced by Virgin Money UK (ASX: VUK). While that won’t directly impact retail investors or even many institutional funds, some of the largest fund managers are limited to investing in the ASX 100 pool. This means Boral may now be off their radar.

The changes, part of the September quarterly review, come into effect on 20 September, before the opening bell.

Boral’s share price may also have been negatively impacted by its 2021 financial year results, released on 24 August. The results were largely short of analyst expectations, with revenue from continuing operations decreasing 6% year-on-year to $2.92 billion.

The company also did not declare a final dividend and said that lockdowns will impact its quarterly performance by roughly $50 million.

Going back a few weeks earlier, the Seven Group Holdings Ltd (ASX: SVW) takeover bid rounded off on 29 July.

Seven Group now holds 69.5% of Boral’s shares, giving it majority voting rights. This saw the quick ousting of the company’s previous Board chair Katheryn Fagg, who was replaced by Seven Group’s CEO Ryan Stokes.

Boral share price snapshot

Up until the end of July, the Boral share price was enjoying a strong run. On 26 July the company was trading at multi-year highs of $7.41 per share. You have to go back to 20 April 2018 to find the Boral share price trading any higher than that.

Since that high, shares have retraced 21%.

Year-to-date, the company remains up 18%. That compares to a 12% gain posted by the S&P/ASX 200 Index (ASX: XJO) so far in 2021.

The post Why the Boral (ASX:BLD) share price is down 17% in a month appeared first on The Motley Fool Australia.

More reading

• These were the worst performing ASX 200 shares in August
• Brokers think these 2 top ASX shares are buys in September 2021
• The ASX reporting wrap-up: WiseTech, Bravura, Seven Group
• Seven Group (ASX:SVW) share price drops on FY21 earnings
• Boral (ASX:BLD) share price on watch as revenue falls

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.

from The Motley Fool Australia https://ift.tt/2X0z7D8

Today, the S&P/ASX 200 Index (ASX: XJO) moved to the downside. The benchmark index closed 0.24% lower to 7,512 points. Shares fell across most sectors on Wednesday, with real estate and consumer staples being some of the hardest hit. Overall, 132 shares of the top 200 finished the day lower than yesterday.

However, the question is: which shares from the top 200 delivered the most green on the ASX today? Here are the ten stocks that delivered the biggest gains while the market fell:

Top 10 ASX 200 shares countdown today

Looking at the top 200 listed companies, Washington H Soul Pattinson & Company Ltd (ASX: SOL) was the biggest gainer today. Shares in the diversified investment company climbed 5.11% despite no news out. Find out more about Soul Patts here.

The next best performing ASX share out of the top 200 today was Milton Corporation Ltd (ASX: MLT). The investment company’s shares moved higher as its merger with Soul Patts moves closer, gaining 4.82% to $7.40. Uncover the latest Milton Corporation information here.

Today’s top 10 biggest gains were made in these ASX 200 shares:

ASX-listed company	Share price	Price change
Washington H Soul Pattinson & Company Ltd (ASX: SOL)	$38.05	5.11%
Milton Corporation Ltd (ASX: MLT)	$7.40	4.82%
Technology One Ltd (ASX: TNE)	$11.72	4.74%
Macquarie Group Ltd (ASX: MQG)	$178.94	4.58%
QUBE Holdings Ltd (ASX: QUB)	$3.415	4.43%
Alumina Ltd (ASX: AWC)	$2.105	4.21%
TPG Telecom Ltd (ASX: TPG)	$6.82	2.56%
South32 Ltd (ASX: S32)	$3.36	2.13%
Computershare Ltd (ASX: CPU)	$17.02	2.10%
The Star Entertainment Group Ltd (ASX: SGR)	$4.29	1.66%

Our top 10 ASX 200 shares countdown is a recurring end-of-day summary to ensure you know which companies were making the biggest moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares on Wednesday appeared first on The Motley Fool Australia.

More reading

• Which ASX shares are making a move on the ASX 300?
• Here’s why the Milton (ASX:MLT) share price has rallied 22% in a month.
• ASX 200 midday update: Macquarie jumps, gold miners sink
• Leading broker reveals why these 10 big-name shares have been firing up its clients
• 2 ASX 200 shares that could be buys for dividends

Motley Fool contributor Mitchell Lawler owns shares of Macquarie Group Limited. 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 and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended TPG Telecom Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3l6RH4Y

The Identitii Ltd (ASX: ID8) share price is rocketing today despite no news from the financial technology company.

At market close, Identitii shares finished up 11.11% to 20 cents. Even after falling 21% yesterday, this means its shares are up an astonishing 150% in a month. Compare this to the All Ordinaries Index (ASX: XAO), which is marginally down 0.09% on the same time period.

What’s going on with Identitii shares?

Recently, the company provided the ASX with 3 separate announcements that drew investor attention, shooting up the Identitii share price.

The first release dated on 25 August regarded a patent and intellectual property (IP) update. Identitii noted its previously filed applications in several global jurisdictions in August 2015.

However, in December 2020, its patent was approved in the United States, and granted in April 2021. Identitii noted that it has filed additional claims in the US this month, as part of its wider IP strategy.

The company stated that its IP offering leverages global demand for systems that capture faster and detailed transaction information.

Furthermore, the company updated the market with its full-year results the following day. Identitii delivered a 45% year-on-year increase in revenue to $1.4 million. When factoring in the grant income, this figure rose to $2.7 million.

Operating costs fell 6% to $8.6 million, compared to the prior corresponding period.

On the bottom line, the company noted a net loss for the year, down 18% to $5.8 million.

Last but not least, Identitii highlighted the launch of its brand new software-as-a-service (SaaS) platform. The product aims to simplify and automate AUSTRAC compliance. This entails reducing the risk of non-compliance with suspicious matter, international transfer and large cash transaction reporting obligations.

Initially available for AUSTRAC reporting in Australia, the platform can be adapted for regulatory requirements in other countries. New Zealand, the United Kingdom and Canada are among the next jurisdictions to be added.

Identitii share price summary

Until recently, it had been a disappointing 12 months for Identitii shares travelling from 29 cents in September 2020 to 6.7 cents in August. This reflects a drop of almost 80% in the space of 11 months. However, the company’s share price stormed to incredible highs to be down only 8% for the past year.

At today’s price, Identitii presides a market capitalisation of roughly $31.2 million, with approximately 152 million shares on its books.

The post Why the Identitii (ASX:ID8) share price is up 11% today appeared first on The Motley Fool Australia.

More reading

• Why the Identitii (ASX:ID8) share price has surged 180% in a month

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.

from The Motley Fool Australia https://ift.tt/38NmHkP

The Bank of Queensland Limited (ASX: BOQ) share price is having a fortnight to remember.

Over the past 2 weeks, shares in the financial institution have risen 4.97%. At the close of market today, Bank of Queensland shares finished at $9.70 (1.25% higher on yesterday’s close). For context, the S&P/ASX 200 Index (ASX: XJO) is 0.41% lower over the same (also 0.41% lower on yesterday’s close).

While the company hasn’t made any significant announcements in this time, there may be some factors that explain what’s going on.

Let’s take a closer look.

Bank of Queensland shares are heading north

One reason for the rising Bank of Queensland share price may be positive broker notes coming out about the company.

As The Motley Fool has previously reported, analysts at JPMorgan have rated the Brisbane-based bank as the third-best financial share on the market, behind Macquarie Group Ltd (ASX: MQG) and National Australia Bank Ltd. (ASX: NAB). Goldman Sachs analysts believe Bank of Queensland shares could reach as high as $9.90 and Morningstar Quantitative believes its shares could get as high as $10.34.

Another possible reason is simply that most ASX bank shares have been doing well for a variety of reasons. For example, the NAB share price is 3.83% higher, the Commonwealth Bank of Australia (ASX: CBA) share price is 2.49% greater, while the Macquarie share price has increased 8.98% – all within the space of 2 weeks.

There are many reasons for the rising financial sector. These include improved investor expectations, perceived stability of banking shares, or forecasted long-term economic stability. Whatever the reason, banking shares, in general, have been overperforming the ASX 200 over the last 2 weeks.

Bank of Queensland share price snapshot

Over the past 12 months, the Bank of Queensland share price has increased 60.35%. Year to date, shares in the bank have appreciated by 29.07%. It’s outperformed the CBA share price, the Westpac Banking Corp (ASX: WBC) share price, and slightly underperformed the NAB share price during these aforementioned periods.

Bank of Queensland has a market capitalisation of approximately $6.2 billion.

The post The Bank of Queensland (ASX:BOQ) share price is up 5% in 2 weeks appeared first on The Motley Fool Australia.

More reading

• Top broker picks best ASX 200 bank shares to buy coming out of reporting season
• The Bank of Queensland (ASX:BOQ) share price is now trading on a forecast 4.4% fully franked dividend yield
• The Bank of Queensland (ASX:BOQ) share price is rated as a strong buy by brokers
• Bank of Queensland (ASX:BOQ) share price struggles as Court finds contracts ‘unfair’
• Bank of Queensland (ASX:BOQ) share price on watch after ‘unfair’ loans finding

Motley Fool contributor Marc Sidarous owns shares of Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3BRDks5