With so many growth shares to choose from on the Australian share market, it can be hard to decide which ones to buy over others.

To help narrow things down, I have picked out two ASX growth shares that could be top options for investors today. Here’s what you need to know about them:

NEXTDC Ltd (ASX: NXT)

The first ASX growth share to look at is NEXTDC.

It appears perfectly positioned to benefit from the cloud computing boom thanks to its position as one of the region’s leading data centre-as-a-service providers. From its 11 world class centres in key locations across Australia, NEXTDC provides colocation services to local and international organisations. 

Pleasingly, NEXTDC is now looking to expand into other potentially lucrative markets after opening up offices in Singapore and Tokyo. If the company makes a success of this, it could give it a long runway for growth over the 2020s.

UBS is a fan of the company. It currently has a buy rating and $15.40 price target on its shares. This compares to the latest NEXTDC share price of $11.05.

Temple & Webster Group Ltd (ASX: TPW)

Another ASX growth share to look at is Temple & Webster. It is Australia’s leading online furniture and homewares retailer.

It has been growing at a strong rate over the last few years and particularly during COVID-19. This was thanks to the shift to online shopping.

The good news is that this shift is still in its infancy for furniture and homewares. This gives the company a very long runway for growth, particularly given its leadership position.

Management is now investing heavily to take take advantage of the shift and cement its position as the market leader. While this will come at the expense of margins, the long term gains make it more than worthwhile.

Morgan Stanley certainly believes this will be the case. The broker currently has an overweight rating and $15.00 price target on its shares. This compares to the latest Temple & Webster share price of $10.06.

More reading

• 3 buy-rated ASX growth shares for investors in May
• 2 ASX tech shares to buy in May 2021
• These are the 10 most shorted shares on the ASX
• 2 ASX growth shares to buy in May 2021
• 2 excellent ASX growth shares rated as buys

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 Temple & Webster Group Ltd. The Motley Fool Australia has recommended Temple & Webster Group 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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Trust in Australia’s big banks, including Commonwealth Bank of Australia (ASX: CBA), National Australia Bank Ltd (ASX: NAB), and Westpac Banking Corp (ASX: WBC) is up 19% among consumers in just 2 years. That’s according to the latest results of comparison website Finder’s Consumer Sentiment Tracker.

The report also analysed consumer saving habits and pay rise expectations. Let’s take a closer look at the findings.

Trust in big banks at record highs

The level of trust in big Australian banks has been rising steadily since the end of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (Banking Royal Commission) in early 2019. 

In May of that year, the metric sat at just 43%. As of April 2021, it sits at 62%. The survey does not specify what a big or small bank is. Finder only asked respondents about their levels of trust in ‘big’ or ‘small’ banks generally.

Graham Cooke, head of consumer research at Finder, said it was interesting to see this metric change in such a consistent way. 

Mr Cooke said, “The initial lockdown seemed to spur fears that smaller banks might fail and may have resulted in a jump in trust of the big banks.”

“Whether it was the compassionate measures taken for those in financial strife or the changes in operating procedures since the Royal Commission, it’s clear that a significant number of Aussies are ready to trust big banks again,” he added.

Despite the large increase in trust for big banks, smaller banks, such as Bank of Queensland Limited (ASX: BOQ), have managed to outpace them.

Trust in small banks currently sits at 68% in April, down from 71% in March. According to Mr Cooke, “Aussies report trusting the smaller players more than the big four – which is a great sign for all the neobanks entering the market.”

Mr Cooke added that “smaller banks tend to be more popular with younger consumers than older ones.”

Other findings

In positive signs for the Australian economy, consumer savings are up nearly $200 a month on average. Additionally, most respondents are expecting a pay rise within the next two years.

Despite an early dip in savings brought about by the COVID-19 pandemic, average savings balances have been able to recover and exceed their pre-coronavirus levels. This figure hovered between $600–$700 per month before the pandemic.

Economic uncertainty and working from home encouraged many Australians to increase their savings. The average amount of savings reportedly shot up to $989 in June 2020. It has since fallen, however, this figure is still significantly above pre-pandemic levels. Currently, it is sitting at $889.

Mr Cooke said this was an encouraging trend. He added that “Rates are low, but some accounts in the market are offering 20-30 times the interest of others.”

Low interest rates may lead investors to move their money into other places, like the share market. When Finder asked economic experts, however, most (86%) believed the increased savings would continue.

Stephen Halmarick of Commonwealth Bank told Finder that a large part of the savings came from government income, which will now disappear. Tony Makin of Griffith University agreed, saying the savings boost was triggered by uncertainty.

As well, a record 56% of Australians believe they will be receiving a pay rise sometime in the next two years.

“Having seemingly weathered the storm and with job ads at a 12-year high, employees are expecting to be paid for their loyalty,” Mr Cooke said.

63% of experts asked by Finder agreed wage growth would exceed 1.0% over the specified period.

Share price performance of the ASX big 4 banks

The Commonwealth Bank share price is up 0.24% today to $92.94 a share. Over the last 12 months, it’s increased 56%.

National Australia Bank shares are down 2.96% after the release of the bank’s Q3 results. They closed the day at $26.56. Since this time last year, the company’s value has appreciated 63%.

The Westpac share price finished the day up 0.23% to $26.02 a share. ASIC opened an investigation into the big bank yesterday for possible insider trading. In 52-weeks, investors have seen a 66% return on investment (ROI) from Westpac shares.

More reading

• Blue chip ASX 200 shares breaking out into 52-week highs
• How much is the NAB dividend worth now?
• ASX 200 down 0.35%; NAB half year results, Nearmap crashes on legal threat
• ANZ Bank (ASX:ANZ) share price hit by broker downgrade post results
• NAB (ASX:NAB) share price on watch after reporting $3.34bn cash profit

Motley Fool contributor Marc Sidarous 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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It’s been 3 months now since the BikeExchange Ltd (ASX: BEX) initial public offering (IPO) on 9 February.

The company, which provides an online cycling market place, connecting brands, retailers and distributors to customers across the globe, has been around as a private entity far longer than 3 months. It was founded in Melbourne back in 2007 by Sam Salter and Jason Wyatt.

Today BikeExchange hosts more than 1,500 brands, 1,640 retailers and 900,000 products globally. The latest figures indicate it attracts 28 million customers annually.

According to BikeExchange’s Global CEO Mark Watkin, “Our purpose is to make it easy for customers to buy and sell all things bike.”

Earlier today the Motely Fool reached out to Watkin to get his take on how the company’s been tracking so far, and what he sees ahead.

Growth across all revenue sources

“We were very pleased to get to that quarterly set of results. That’s a milestone for us,” Watkin said, referring to BikeExchange’s first quarter results (Q3 FY21) as a listed company.

The company reported solid growth across all its sources of revenue, along with record look-through total transaction value, which increased 220% over the prior corresponding period.

Noting that BikeExchange maintained a net cash position of $18.9 million, as of 31 March, Watkin said:

The highlight there is we achieved that growth without having to deploy the capital raised in the IPO. We take a lot of confidence from that. We’re in a phase now of strategically planning ahead, particularly for FY22 – growing subscriptions, growing ecommerce transactions and so forth.

All markets are not created equal

Not every geographic market BikeExchange operates in has grown equally fast.

“Europe has been a standout,” Watkin told us.

Indeed, revenue in Q3 from its European operations grew by 134% over the prior corresponding period, with growth across all categories. E-commerce was particularly strong, reflecting strong demand for bikes in Europe. Revenue growth in Australia and New Zealand came in at 19%.

According to Watkin:

A lot of that relates to cultural aspects for Europe, where cycling is a mode of transport versus the performance end of the category and sports. There are a lot of insights in that. The use of e-bikes is growing alongside the infrastructure and environmental debates, which have become global debates.

The uptake in Australia has been slower, but the barriers are being broken down. I’m very excited about this next 10 years. Cycling is 100% part of the solution to many of these bigger debates around the environment, transportation, infrastructure, health and convenience.

While COVID lockdowns and social distancing ushered in a rapid uptake in online shopping Down Under, Australia still lags Europe in e-commerce.

Watkin told us:

In Europe 90% plus of transactions are happening online through the platform. And 40-50% of those transactions are e-bikes. Europe has up to 30% of e-commerce as a total of retail where in Australia it’s single digits still. But those barriers are being broken down, the online influence is there now.

As for Australia’s stringent bicycle helmet laws, Watkin said it remains a big debate. “For some people it can be a barrier.”

He added, “In Europe you can argue it’s safer because the infrastructure supports bikes. Infrastructure is a key component for the everyday use of a bike. Personally, I believe helmets are important.”

The bank account is full…what now?

Bringing the conversation back to BikeExchange’s $18.9 million in net cash, we asked what the company’s plans are to deploy the IPO capital.

Watkin said that sales and marketing were core focus areas.

“Marketing, particularly in some of the regions, will be very important. SEO [search engine optimisation] and SEM [search engine marketing] has always been an important part.”

The company is also looking to add key staff.

“We’ve been a very lean, capital light business. So, there’ll be some key hires that we’ll make in key function areas… not tied to any geography.”

BikeExchange will also look at enhancing its technology.

Our core platform is Marketplacer, a robust engine. But I think there are opportunities for us to enhance things, particularly on the front end… Personalisation for the consumer is a really important area. We’ve started that process now.

Watkin added that the company is interested in pursuing, “Anything that helps us enable the retailer and the brands to sell more products and reach more people, and for the consumer to find what they need.”

The bank account is full but we need to deploy it appropriately. In this, core areas are the key ones. The EU and the US are the big markets where we’ve got significant runways, so we have a big focus on those regions.

How quality can drive growth

BikeExchange’s growth figures for Q3 FY21 were impressive. The Motley Fool wanted to know if that level of growth is sustainable.

According to Watkin, “We’re confident we can keep up the growth rates. Whether that’s a mirror of the growth we had in the past quarter is hard to say.”

We think the growth patterns are sustainable, but it’s going to come in a slightly different way as we scale out the businesses. A lot of market places get 80% of their volume from 20% of their customer base. That comes down to quality product, quality retailers, etc.

We find that very much. The quality product retailer that we’re working with, the availability of that product, drives good demand and awareness. This has definitely been part of our strategy.

He pointed to the US and the EU as being the primary drivers for growth in the medium term.

If you take America, there are probably 4,500 to 5,000 [cycling] retailers in the country. The objective is not to get all of them. The objective is 1,500-2,000 quality retailers that are good operators with good products on the platform, which makes the destination compelling for the consumer.

We’re [currently] at single digit penetration in the EU and the US. With capital growth coming into the business, we hope we’re going to see good growth rates going on quarter on quarter.

Risks and opportunities in the year ahead

The uncertainty that continues to be thrown up by COVID-19 is the only real risk Watkin foresees over the coming year. “But we worked through that whole pandemic and we’re still going strong. Productivity went up, the team bonded even more around the world. We’ve taken a lot of comfort from that,” he said.

Aside from the unpredictable nature of the virus, Watkin doesn’t foresee any major risks for the company over the coming months.

“We’re in a pretty sustainable category,” he told us. “We believe cycling is part of the solution to the big macro trends that are happening. Electric cars aren’t the sole answer.”

Watkin is focusing on the company’s existing growth markets before branching into new turf.

We’ve got first mover advantage, we’ve got good foundations, and we’ve got a good runway.

The temptation is to keep expanding into new countries in the short term. But I want us to be 100% focused on what we’ve got. Two huge regions in the US and EU. Latin America is equally big. Let’s just focus on those, and prove the model out.

At the same time, we can get our operational model absolutely solid so we can replicate it more easily into those new markets.

Watkin also said the company will work to further aid consumers with their purchasing decisions.

The average person on the street doesn’t know a lot about bikes. Like utility bikes – the cargo bikes where you can carry your children – there’s a huge opportunity there. And it’s a technical purchase, which can be a little intimidating. If we can be a destination that helps them, that’s a great opportunity.

Coupled with that, a category where bikes can be seen as transportation. In Australia this definitely needs a bit of reframing. Getting equality on the roads is a big topic area. Our big opportunity is helping countries across the world establish that even further.

It’s a fragmented industry, and we’re trying to bring that together.

More reading

• The BikeExchange (ASX:BEX) share price is surging. Here’s why.

Motley Fool contributor Bernd Struben 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 Coronado Global Resources Inc (ASX: CRN) were plummeting today as they resumed trading following an institutional entitlement offer. By close of trade, the Coronado share price had fallen 14.29% to 51 cents. 

The coal producer announced the equity offer on Tuesday. Today was the first day the company’s shares were eligible for trading following the news, and the market’s reaction wasn’t kind.

Let’s take a closer look.

$114 million entitlement offer

On 4 May, Coronado advised that it planned to perform an equity offering, with the aim of raising $100 million.

Coronado reported today that it raised $114 million in its institutional entitlement offer, at an offer price of 45 cents per new CHESS Depository Interest (CDI). Each CDI represented a beneficial interest in one-tenth of a share in the company.

Coronado advised that Energy & Minerals Group, through its affiliate Coronado Group LLC, purchased approximately 72 million CDIs to maintain a hold of at least 50.1% of the CDIs on issue.

Coronado now plans to conduct a retail entitlement offer, which will open on 11 May.

When Coronado reported its plans to perform an equity offer, The Motley Fool Australia reported this was due to its operations being impacted by Australia’s shift to renewable energy and China’s ban on Australian coal exports.

The equity offer is just one part of the company’s proposed US$550 million refinancing package.

Commentary from management

Coronado managing director and CEO Gerry Spindler commented on the institutional entitlement offer, saying:

The institutional entitlement offer was well received and with the broader refinancing package, including US$350 million of senior secured notes and the asset-based-loan (in an initial aggregate principal amount of US$100 million), we have created a capital structure that has increased our financial flexibility, extended our debt maturity profile and diversified our funding sources.

Coronado Global Resources share price snapshot

Unfortunately for shareholders, the poor reaction to today’s news by Coronado shares represents just their latest dip.

Currently, the Coronado share price is down 55% year to date. It’s also down 51% over the last 12 months.

The company has a market capitalisation of around $823 million, with approximately 1.5 billion shares outstanding.

More reading

• Coronado (ASX:CRN) share price freeze on $100m refinancing news

Motley Fool contributor Brooke Cooper 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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Investors may be getting concerned about valuations, but leading brokers are urging you to buy three ASX shares even as they are trading at or near their 52-week highs.

The  S&P/ASX 200 Index (Index:^AXJO) may be backing away from record highs on Thursday. But with the index up more than 30% over the past year amid resurging worries about COVID-19, investors are right to ask if ASX shares have overshot their fundamentals.

While these worries are justified for some parts of our market, brokers see more upside for a handful of outperforming ASX shares.

Upgrade reinforces buy recommendation

One such example is the Medibank Private Ltd (ASX: MPL) share price, which is trading at its highest point in the last year.

Morgan Stanley reckons the private health insurer is still worth buying at these levels after management upgraded its guidance.

“MPL now expect FY21 policyholder growth between 3.5%-4% including 1.2-1.4% growth in MPL brand,” said the broker.

“This compares to previous guidance of >3%. MSe +3.2%. MPLsaid despite the 1 April premium increase, customer retention is significantly better than in the prior corresponding period.”

Further, claims are coming in below Medibank’s expectations and Morgan Stanley has reiterated its “overweight” recommendation and price target of $3.20 a share.

More upside for this outperforming ASX share

Another that’s within striking distance of its 52-week high is the QBE Insurance Group Ltd (ASX: QBE) share price.

The QBE share price jumped nearly 4% today to $10.85, and that’s close to its $10.98 high it hit in August last year.

While the rate of insurance premium increases has slowed from 2020, this has not deterred UBS from repeating its “buy” call on the general insurer.

Volume offsets slowdown

“The slowdown in premium rate increases from the peak in 2020 is line with our expectations,” said UBS.

“However, volume growth appears ahead of what we are expecting and crop also tracking ahead of our forecasts. Note we expect a 5-6% currency benefit for QBE in FY21 reported numbers.”

UBS increased its 12-month price target on the stock to $11.50 from $10.25 a share.

Scaling new peaks

Meanwhile, it may only be a matter of time before the OZ Minerals Limited (ASX: OZL) share price sets a new multi-year high.

The OZ Minerals share price is currently trading at $24.77 and is only a tat below last month’s 13-year peak of $25.24.

Despite that, Macquarie Group Ltd (ASX: MQG) thinks there’s a lot more room for the copper miner to run.

ASX share with good copper exposure

This is in part due to OZ Minerals expansion plan for its two key assets, Prominent Hill and Carrapateena.

“OZL is benefitting from growth targets at both core assets; has upside optionality from the development of West Musgrave; and has material upside to earnings driven by buoyant copper prices,” explained Macquarie.

“In a spot price scenario, earnings increase by 25% in CY21 and by 75% in CY22.”

The broker is recommending the OZ Mineral share price as “outperform” with a 12-month price target of $29.50 a share.

More reading

• Could insurance be the most underrated sector in the ASX 200?
• 2 reliable ASX 200 shares offering good income
• Why the Afterpay (ASX:APT) share price is sliding 5%
• ASX 200 down 0.35%; NAB half year results, Nearmap crashes on legal threat
• Broker sees upside for these ASX 200 mining shares

Motley Fool contributor Brendon Lau owns shares of Macquarie Group Limited and OZ Minerals Limited. Connect with me on Twitter @brenlau.

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

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The tech sector is a sea of red today but that hasn’t stopped the Bravura Solutions Ltd (ASX: BVS) share price from charging higher.

The financial technology company’s shares ended the day with a gain of 3% to $3.24.

Why is the Bravura share price avoiding the selloff?

The catalyst for the solid performance by the Bravura share price on Thursday appears to have been the release of a positive broker note.

According to a note out of Goldman Sachs this morning, its analysts have retained their buy rating and lifted their price target on the company’s shares to $3.90.

Based on the current Bravura share price, this implies potential upside of 20% over the next 12 months excluding dividends.

Why is Goldman bullish on Bravura?

Goldman Sachs notes that earlier this week Bravura reiterated its FY 2021 guidance for net profit after tax of $32 million to $35 million and second half revenue growth of 10% half on half.

Goldman said: “Given there is less than two months of FY21 to go there is increased likelihood vs the February update that the guidance will be achieved. Brexit and then COVID have disrupted BVS new client wins. The company is now experiencing positive momentum, including increased client engagement in the UK as the economy opens up with the vaccine roll-out.”

Significant medium term opportunity

With the company now recovering from a difficult period, Goldman appears confident it is onwards and upwards from here thanks to its significant market opportunity.

It explained: “The medium term opportunity for BVS looks significant: it is estimated by the company its TAM in the UK is ~GBP1.2bn and in Australia ~A$1.0bn with a current market share of c.10% and c.5% respectively, providing a significant runway for growth. We expect earnings to recover in FY22, driven by new client wins from the strong pipeline with a resumption in UK demand from projects delayed in part by COVID. While we acknowledge that there is still some uncertainty around timing of wins, we think the risks are reducing as the UK re-opens.”

Attractive valuation

Another reason that Goldman Sachs is bullish on the Bravura share price is its valuation, which it feels is undemanding.

Goldman commented: “The valuation for BVS looks undemanding and it is trading at the bottom end of its historical trading range on both a P/E and EV/EBITDA basis; it is currently trading at an FY21/FY22 EV/EBITDA of 14.3x/11.1x. […] Our 12m TP moves up +5% to A$3.90, implying a 24% total return; we reiterate our Buy rating.”

More reading

• 2 dirt cheap ASX shares to buy next week
• These oversold ASX tech shares are ripe for the picking

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 Bravura Solutions Ltd. The Motley Fool Australia has recommended Bravura Solutions 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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Shares in Ioneer Ltd (ASX: INR) have lifted today after the miner released its RIU Resources Round-up conference presentation.

The Ioneer share price is up 5.7%, trading at 37 cents per share at the time of writing, against broader losses this week.

Ioneer is an international mineral exploration company, focused on the Rhyolite Ridge lithium-boron project in Nevada, the United States, which is the subject of today’s report. Geographically, the group has a business presence in Australia and North America.

Ioneer talks lithium at RIU Resources

In today’s presentation, Ioneer made a bullish case about its lithium production capabilities. 

The company told the conference it expected to be “the lowest cost lithium producer in the world with industry-leading margins”, noting that its “strong project economics” were resilient across a wide range of commodity prices. 

Whether or not that comes to fruition in a market increasingly saturated with mainstream attention remains to be seen. It’s perhaps no coincidence that Ioneer was keen to impress its versatility outside of lithium as well, noting its “large resource base with expansion opportunities”.

Ioneer also highlighted the company’s close relationship with the US Government and battery producers, saying it to expected to be one of the first major lithium suppliers in the US due to its location near emerging battery mega factories. The US administration is attempting to lead a global shift towards renewable energy sources and wants to safeguard both its capacity to produce the materials needed and the eventual production of the final technology.

The company said it was “well-positioned” to benefit from an increased focus on supply chain security by the current US administration, noting the “strategic nature” of renewable energy assets.

Australia is attempting to encourage similar ambition through the Government’s recent $1.5 billion advanced manufacturing fund that focusses on processing raw materials domestically.

Ioneer currently produces 22,000 tonnes of lithium hydroxide and 174,400 tonnes of boric acid annually.

Ioneer share price snapshot

The Ioneer share price is another ASX lithium share that has gone through the roof over the past 12 months, rising more than 200%. It climbed four times higher between October 2020 and February this year before declining slowly since that point. The Ioneer share price is up 31% year to date.

More reading

• Why the Ioneer (ASX:INR) share price is on watch today

Motley Fool contributor Lucas Radbourne-Pugh 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 TPG Telecom Ltd (ASX: TPG) took a tumble today amid news the company’s chief financial officer Stephen Banfield is heading for the door. By the market’s close, the TPG share price had dropped 5.59% to $5.24.

Banfield’s resignation comes barely a month after TPG founder David Teoh resigned, also sending the company’s share price plummeting 6%. 

CFO resignation

Banfield was appointed CFO of TPG Telecom in August last year, having previously been the CFO of TPG’s wholly-owned subsidiary, TPG Corporation – a position he held for 12 years.

The TPG share price has today followed the same pattern it did on 26 March when David Teoh stood down, a day it hasn’t yet recovered from. Between Teoh resigning in late March and Banfield’s resignation this morning, the TPG share price has dropped by around 18%.

The reason Banfield gave for his resignation was, after 20 years with TPG, he feels it’s time to move on. He said:

It has been a great privilege to work for companies within the TPG group for the past 20 years and I am proud of what TPG has achieved over that time.

I look forward to working with [TPG Telecom CEO Iñaki Berroeta] and my team over the coming months to ensure a smooth transition.

Berroeta thanked Banfield for his service to the company, saying:

It has been a pleasure working with Steve during the merger integration [with Vodafone Hutchison Australia] and I thank Steve for his considerable contribution to the TPG business.

In particular, I thank Steve for his leadership in bringing the finance teams of TPG and VHA together as part of merger integration.

Banfield will remain as TPG’s CFO until November unless a successor is found sooner. TPG stated that a replacement CFO will be announced in due course.

TPG share price snapshot

The news of another upper management resignation comes at a bad time for TPG shares, which are still struggling on the ASX.

Currently, the TPG Telecom share price is down 26% year to date. It’s also down by around 40% since Vodafone and TPG merged, with the new telecommunication company relisting on the ASX in June 2020.

The company has a market capitalisation of around $10.3 billion, with approximately 1.8 billion shares outstanding.

More reading

• Why the Telstra (ASX:TLS) share price could be heading higher from here
• Is the Telstra (ASX:TLS) share price better value than the TPG (ASX:TPG) share price?
• What’s with the Telstra (ASX:TLS) share price and other telcos today?
• ASX 200 Weekly Wrap: ASX 200 hits new post-COVID high
• These were the worst performing ASX 200 shares last week

Motley Fool contributor Brooke Cooper 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 Boom Logistics Limited (ASX: BOL) share price is soaring higher today. This comes after the company announced it has been awarded a new contract.

During late-afternoon trade, the lifting solutions and crane provider’s shares are selling for 15 cents a pop, up 7.1%.

What’s in the deal?

According to the release, Boom advised it has won a new contract at the BHP Group Ltd (ASX: BHP) Olympic Dam. The award will support a major smelter shutdown project that is scheduled to commence in August 2021.

The project will complement Boom’s current maintenance work that has been ongoing since 2012 at the BHP Olympic Dam.

Under the agreement, Boom will supply additional cranes and speciality rigging and engineering services for the shutdown. Equipment is expected to be mobilised from June, with the project running from August to November this year.

The company is forecasting the project to generate revenue of around $15 million which will fall in the FY22 calendar.

Boom CEO and managing director, Tony Spassopoulos commented:

Boom Logistics continues to win new mining maintenance work. We are very proud of our longstanding relationship providing services to BHP Olympic Dam, and pleased to support another major smelter shutdown program.

During the SCM21 shutdown, Boom Logistics will have 40 cranes and approximately 150 crew on site at Olympic Dam. We have an experienced team on site with the priority on safety first and project delivery. Shutdowns are an essential part of mining maintenance, contributing to safe and effective production and productivity improvement.

Boom highlighted that it has firm shutdown bookings planned in Queensland and Western Australia. Furthermore, the GE Bango wind farm construction and the Snowy 2.0 infrastructure project is projected to run into Q1 FY22.

Boom share price summary

Over the past 12 months, the Boom share price has gained above 60%, however, year-to-date performance has sagged 16%. The company’s shares reached a 52-week high of 19 cents in December 2020, before treading lower.

Based on the current share price, Boom commands a market capitalisation of roughly $64 million, with 427.7 million shares outstanding.

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• CSL (ASX:CSL) share price heads lower on haemophilia B deal
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Motley Fool contributor Aaron Teboneras 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.

The post Here’s why the Boom Logistics (ASX:BOL) share price is up 7% today appeared first on The Motley Fool Australia.

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Ethereum (CRYPTO: ETH) is not the largest cryptocurrency out there. That honour goes to Bitcoin (CRYPTO: BTC). But, Ethereum is the second largest in terms of market capitalisation. And if the pricing gains of the past month continue, it won’t be too long before it claims the top seat.

The price of Ethererum has skyrocketed in recent weeks. Since 6 April, the cryptocurrency is up 66.88% to US$3,443 a coin today (at the time of writing). By comparison, Bitcoin has lost 0.9% over the same period and is currently trading at US$57,000 a coin.

Over the past 12 months, Bitcoin is up 528%, while Ethereum is up 1,672%.

If you’re not too familiar with Ethereum, it is a cryptocurrency that functions a little differently from Bitcoin, even though the two coins use similar blockchain technology. Whilst Bitcoin was established with a fixed number of coins available for mining, Ethereum has no such limit. Ether tokens can also be used to create contracts between different holders. It’s that which is what has a lot of people excited about its future.

But why now? Why is Ethereum rising so rapidly?

Ethereum pips Bitcoin

Well, Simon Peters from eToro reckons Ethereum is continuing to “price its case”. He points to a recent announcement from the European Investment Bank. The Bank has recently announced the issuance of its first ‘digital’ bonds using blockchain technology. These bonds will be issued using the Ethereum network. He also notes that “the number of DApps (Decentralised Applications) continues to grow on the platform, and there is now growing demand from institutional investors for the Ethereum crypto asset itself”.

Peters also points out that S&P Dow Jones Indices has, for the first time, announced it has launched 3 new ‘crypto asset indexes’. These will track Bitcoin, Ethereum and a combination of both. If these indexes lead to a new range of exchange-traded funds (ETFs) that allow retail investors to invest in cryptocurrencies through them, we might see even more buying pressure in the assets themselves. And it’s not like there’s any shortage of that.

Aussie investors certainly can’t get enough of the crypto arena, as my Fool colleague pointed out yesterday. This sure has been an interesting space to watch, and it looks though that isn’t going to change.

More reading

• It’s not just Bitcoin (CRYPTO:BTC) driving ASX investor interest
• Are Coinbase (NASDAQ:COIN) shares worth a look?
• Warren Buffett hates Bitcoin. Here’s why
• How Tether is fuelling the Bitcoin price rally
• Some takeaways from Warren Buffett’s Berkshire Hathaway meeting

Sebastian Bowen owns shares of Bitcoin and Ethereum. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Bitcoin. 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.

The post Move over Bitcoin! Ethereum prices are rising fast appeared first on The Motley Fool Australia.

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