At the start of 2026, Ramsay Health Care Ltd (ASX: RHC) was hardly the kind of stock investors were chasing.

Fast-forward 8 months, and the picture looks very different.

Ramsay shares are up another 1.52% to $54.11 on Thursday, taking the private hospital operator to its highest level in several years.

The stock has now surged around 57% in 2026 and sits almost 80% above its 52-week low of $30.39.

It was changing hands at just $44.02 on 26 August. Since then, the share price has jumped almost 23% in a little over 2 weeks.

After years of going nowhere, Ramsay has suddenly become one of the more interesting turnaround stories on the ASX.

And I think its latest results explain a lot of the recent excitement.

The numbers are finally improving

Ramsay’s FY26 result was a pretty decent one.

Revenue came in at $18.6 billion, while underlying EBIT rose 11.8% to around $1.16 billion.

Underlying net profit after tax (NPAT) increased 19.3% to $364.1 million, or 22.9% on a constant currency basis.

Australia did much of the work, helped by higher hospital activity, better theatre utilisation, improved private health insurance pricing, and tighter cost control.

The group’s underlying EBIT margin also improved by 30 basis points to 6.2%.

Shareholders got a little extra too, with the full-year dividend rising 13.8% to 91 cents per share.

The business could look very different

Ramsay is moving ahead with plans to separate its 52.79% stake in Ramsay Santé, which owns hospitals across Europe.

Shareholders are expected to vote on the proposed demerger in November.

If the deal goes ahead, investors would be left with a simpler Ramsay business and a much clearer view of how its Australian hospitals are performing.

Ramsay is still putting money into Australia too, with the company agreeing to buy National Capital Private Hospital in Canberra for $251 million.

Management expects the acquisition to add to earnings in its first 12 months.

Would I buy Ramsay shares?

This is probably where I would be a little more careful.

At $54.11, Ramsay shares have already moved above the average TipRanks analyst price target of $50.66. The highest target is $55.69.

Director Michael Siddle also sold 1 million shares at $49 shortly after the result, in an off-market transaction worth $49 million.

Yes, I still like what I am seeing from the business, and I think the turnaround has more substance behind it.

But I wouldn’t be chasing Ramsay shares purely because they have been going up.

The post Up 57% this year. Guess which ASX 200 stock just hit a multi-year high? appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Zip Co Ltd (ASX: ZIP) shares have crashed another 4% in Thursday lunchtime trade, to $2.20 a piece.

Today’s sell-off follows a long run of declines, reversing any gains made during a brief recovery in June and July. The shares are now down 11% this week, and have shed just over 22% over the past month alone.

The shares are now also around 52% lower than 12 months ago.

What is going on with Zip shares this week?

There hasn’t been any price-sensitive news out of Zip this week to explain the latest sell-off.

The buy now, pay later (BNPL) provider’s shares have been very volatile throughout 2026 so far, swinging anywhere between $3.56 in January, and a low of $1.38 in March. 

Most recently, the sell-off picked up pace after the company posted its FY26 results on the 20th of August. 

Zip posted a record result, including a huge 57.9% increase in its cash EBTDA, a 24.7% increase in total revenue, and a 45.7% hike in its NPAT for FY26.

The company also said it expects its cash EBTDA to climb even higher in FY27, by around 26% thanks to strong growth and greater scale across the business.

The announcement was initially well received by investors, who rushed to snap up the BNPL provider’s shares. But gains were quickly reversed and the shares are now down around 28% since the announcement.

While the result itself was positive, it looks like many investors were underwhelmed by the company’s expectations for future growth.

Zip said it is aiming to deliver a group cash EBTDA of $340 million in FY27, up 26% on FY26, and target an operating margin of 20% to 22%. That’s much lower than the 57.9% cash EBTDA growth the company experienced in FY26.

The news also came against a backdrop of volatile markets and weak investor sentiment, adding further pressure to the share price.

Now the question is, is the latest sell-off a buying opportunity to buy the ASX tech shares for cheap, or is there more downside coming?

Here’s what the experts think.

What’s ahead for the ASX tech stock?

Analysts are incredibly bullish on Zip shares, with widespread anticipation that we’ll see a significant upside over the next 12 months.

Market Index data shows all brokers agree on a strong buy rating, and the $3.95 target price implies around a 78% upside, at the time of writing.

TradingView data shows something similar. All 12 analysts have a buy/strong buy rating on the shares. The average $4.56 target price implies a potential 106% upside ahead, at the time of writing. Although some are confident that Zip shares can climb another 171% to $6.03 over the next 12 months.

UBS recently confirmed its buy rating and $4.70 target price on Zip shares. The broker said that the outlook for the current year was better than expected, providing comfort around the defensive qualities of the buy now, pay later business model through slowing economic times.

The team at Macquarie also agrees. The broker has a buy rating and $3.50 target price on the shares. Macquarie said “Zip’s outlook remains attractive as management executes the market opportunity in the US, supported by performance in AU”.

The post Zip shares crash another 11% this week: What is going on? appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Amid renewed selling pressure today, the All Ordinaries Index (ASX: XAO) is down 1.7% in 12 months, but don’t blame these two surging ASX All Ords tech stocks.

The outperforming ASX tech shares in question are audio visual, electrical and communication products and services company SKS Technologies Group Ltd (ASX: SKS), and wholesale computer hardware and software distributor Dicker Data Ltd (ASX: DDR).

During the Thursday lunch hour, Dicker Data shares are changing hands for $13.96 apiece, up 40.5% since this time last year.

SKS Technologies shares have performed even better. Currently trading for $7.89 a share, the ASX All Ords tech stock has rocketed 155.3% in 12 months.

To highlight the strength of this performance, the S&P/ASX All Technology Index (ASX: XTX) has tumbled 34.0% over this same period.

As you’re likely aware, a lot of tech companies have come under pressure amid concerns that artificial intelligence could replace the services they offer at far cheaper prices. But Vestra Capital’s Mark Elzayed forecasts that the AI revolution will actually provide ongoing tailwinds for both SKS and Dicker Data shares (courtesy of The Bull).

Here’s why.

ASX All Ords tech stock tapping into data centre boom

“SKS Technologies has established a significant market footprint in electrical, fibre optic and audiovisual integration for major data centre projects,” said Elzayed, who has a buy recommendation on the ASX All Ords tech stock.

Commenting on SKS Technologies FY 2026 results, he noted:

The company generated revenue of $347.93 million in full year 2026, up 33 per cent on the prior corresponding period. Net profit after tax of $27.11 million surged 93.2 per cent. Data centre revenue of $207.7 million was up 47.6 per cent year on year. The balance sheet is also stronger, with cash from operations increasing 30.5 per cent.

Summarising his buy recommendation on SKS, Elzayed concluded:

The primary catalyst for SKS is its accelerating work on hand and structural exposure to Australia’s expanding data centre market. In my view, SKS represents a high conviction growth opportunity, supported by strong demand visibility and a substantial project pipeline.

Which brings us to the second outperforming ASX tech share you may wish to buy today.

Dicker Data shares increasing AI exposure

“This technology company distributes hardware and software solutions,” he said of Dicker Data. “It benefits from enterprise spending on AI capable servers, network upgrades and end point security hardware.”

Commenting on Dicker Data’s H1 2026 results, he added:

It generated gross revenue of $2.1 billion in the first half of 2026, up 14.2 per cent on the prior corresponding period. Net profit after tax of $60.7 million was up 54.1 per cent. Management has upgraded full year gross revenue guidance to between $4.3 billion and $4.4 billion, alongside profit before tax guidance of between $162 million and $165 million.

Summarising his buy recommendation on the ASX All Ords tech stock, Elzayed concluded, “Double digit top line momentum, an appealing dividend yield and increasing exposure to AI infrastructure spending provides a bright outlook, in my view.”

The post Buy alert! Expert names 2 surging ASX All Ords tech stocks to buy today appeared first on The Motley Fool Australia.

More reading

• Buy, hold, sell: Dicker Data, Polynovo, Flight Centre shares
• Experts name 3 top ASX shares to buy this week
• Dicker Data delivers record H1 FY26 profit and lifts full-year guidance
• SKS Technologies reports record FY26 earnings
• Up 250%! Broker tips this dividend paying ASX All Ords tech stock for more outsized gains

Motley Fool contributor Bernd Struben 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 positions in and has recommended Dicker Data. The Motley Fool Australia has recommended Sks Technologies Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.