The Weebit Nano Ltd (ASX: WBT) share price is breaking into a new 52-week high today. Shares in the computer memory developer hit $4.27 earlier in trade today, before slipping its current $4.11. That means the Weebit share price is up 10% for the day, but more impressive is the yearly netted returns – a staggering return of 925%.

There appears to be no news out from the company today, which leaves us to take a look at what recent developments might still have investors excited.

Refreshing our memory on recent developments

Back in December last year, Weebit offered a share purchase plan (SPP) to eligible shareholders to raise $3 million at $1.70 per share. After the offer had closed, the company announced that the offer was heavily oversubscribed, with applications received totaling $19,957,528.

Consequently, management decided to scale back the offer to the originally set $3 million.  

Following the capital raise, Weebit Nano announced that the company was filing 2 new patents in conjunction with its development partner, CEA-Leti. Weebit’s first patent defines a process improvement to enable high memory yield and high uniformity across memory cells and throughout the wafer.

The second patent reportedly pertains to the selector development for ‘very fast’ read, which enables reduced power consumption and selector stress during the read operation. Both patents are relevant to optimising the company’s ReRAM technology.

More recently, Weebit announced the appointment of non-volatile memory veteran Ishai Naveh. Mr Naveh will assume the role of chief technology officer and focus on driving the strategic direction of the company’s technology development.

Mr Naveh co-founded Adesto in 2007, being one of the early entrants into ReRAM. Adesto was acquired by Dialog Semiconductor PLC last year for $500 million.

Looking ahead

In Weebit’s first quarter FY21 update, the company mentioned that it was in discussions with a production partner ahead of shifting the technology to the partner’s fabrication.  

Additionally, the development of its embedded memory module is a primary focus. The company claimed it was on track at the time.

Weebit Nano’s management provided comment on the progress towards commercialisation of its memory:

Weebit is moving closer to commercialisation within the embedded memory market with significant technical progress made over the quarter and ongoing discussions with potential partners and customers.

In parallel, we are progressing our development within the standalone market, where our ReRAM technology can address ongoing demand for increased and more efficient memory storage.

Weebit share price snapshot

The Weebit Nano share price is now up 57% year to date (YTD). Comparatively, the S&P/ASX 200 Index (ASX: XJO) is up 1.3% YTD.

Including today’s gain, the Weebit Nano market capitalisation is now $484 million.

More reading

• Here are 3 ASX small cap shares with exciting product launches in 2021
• Why the Weebit Nano (ASX:WBT) share price surged 12% today

Motley Fool contributor Mitchell Lawler 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 Fenix Resources Ltd (ASX: FEX) share price is trading nearly 2% higher at 26.5 cents a share today. The price bump follows the release of the company’s quarterly results.

The company has experienced significant growth over the previous 12-month period with the Fenix share price powering up close to 400% higher.

Here’s what we learned.

Everyone is loving iron ore

In its December quarterly activities report, Fenix advised that iron ore production is underway at Fenix’s Iron Ridge project in Western Australia.

Fenix estimates “approximately 60,000 tonnes of combined lump and fines product scheduled for early February”.

With the price of iron ore up around 79% for the year trading close to $170 a ton, that’s roughly a $10.2 million pile of iron ore before costs and fees are considered.

The Federal Government has been vocal about iron ore prices soaring and how this benefits the Australian economy, as discussed during the mid-year economic and fiscal outlook.

A strategic offtake agreement

During the December quarter, Fenix announced an offtake agreement with Sinosteel International Holding Company Limited.

This means that Fenix has sales arrangements that are now in place for 100% of the company’s projected iron production. Atlas Iron subsidiary Weld Range Iron Ore Pty Ltd has already staked 50% of production and sales for Iron Ridge.

Additionally, the Sinosteel deal also entitles Fenix to acquire an iron ore storage shed, truck unloading, and conveyor systems located at the Geraldton Port.

Port lease agreement

Importantly, Fenix has secured the access necessary to export the company’s iron ore products.

Also in today’s announcement, the company advised that during the December quarter, it had executed a port lease agreement and a port access and services agreement with Mid West Ports Authority (MWPS) for the export of iron ore products through the port of Geraldton. The agreement allowed Fenix to export 1.25 million tonnes per annum of iron ore.

More reading

• Here’s why the Australian Primary Hemp (ASX:APH) share price is rocketing 31% higher
• 2 outstanding blue chip ASX shares to buy right now
• What analysts expect from the Woolworths (ASX:WOW) first half result
• Maggie Beer (ASX:MBH) share price dips following record earnings
• Netflix is considering a stock-buyback program

Motley Fool contributor Gretchen Kennedy 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 Australian Primary Hemp Ltd (ASX: APH) share price is rocketing higher today.

This comes after the company announced it has secured firm commitments through a placement to fund its growth strategy.

At the time of writing, the company’s shares are up an astonishing 16% to 44 cents.

It’s worth noting that during the opening minutes of trade, the Australian Primary Hemp share price reached a multi-year high of 62 cents.

Placement in detail

According to the release, Australian Primary Hemp welcomed the firm commitments to raise roughly $5.2 million through a strategic placement with an offer price of 32 cents per share price.

Under the placement, approximately 16 million ordinary shares will be issued with an offer price of 32 cents per share. This represents a steep discount of 36% on the current Australian Primary Hemp share price.

The company noted that the placement received strong support from new investors, existing institutional investors, and high-net worth investors.

Monies raised from the placement will complement its proposed $1 million share purchase plan. Together, the funds will be used to assist Australian Primary Hemp in driving its growth strategy and ongoing transformation process.

This included investment in capital equipment purchases, marketing and sales costs, general capital working requirements, and strengthening the balance sheet.

Australian Primary Hemp revealed that it is seeking to transition its business into a branded, value-added health and wellness company.

To be an eligible shareholder for the share purchase plan, you needed to be on the company’s register by last night.

For those who were lucky enough, the offer period of the share purchase plan closes on February 10, 2021.

Management commentary

Australian Primary Hemp managing director and CEO, Mr. Neale Joseph, touched on the placement, saying:

We are highly encouraged by the level of support investors have shown for APH.

There are significant tailwinds and growing consumer demand for high-quality, plant-based ‘superfoods’, particularly hemp-based products. This growing demand is reflected in the retail distribution agreement we have recently secured with Woolworths and 7-Eleven, which will see our Mt. Elephant brand of health and wellness products made available to consumers across Australia.

About the Australian Primary Hemp share price

The Australian Primary Hemp share price has performed quite well over the last 12 months, gaining over 170%.

Its shares took a tumble during COVID-19 where they were swapping hands for as little as 4.9 cents in March.

However, since then, the Australian Primary Hemp share price took a turn to march higher over the last 9 months.

More reading

• Why is the Fenix Resources (ASX:FEX) share price higher today?
• 2 outstanding blue chip ASX shares to buy right now
• What analysts expect from the Woolworths (ASX:WOW) first half result
• Maggie Beer (ASX:MBH) share price dips following record earnings
• Netflix is considering a stock-buyback program

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.

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If you want to build a balanced portfolio, having a few blue chip ASX shares in there could be a smart move.

Blue chip shares tend to be companies that are well-known, long-established, and have strong financial positions. 

With that in mind, listed below are two ASX blue chip shares that come highly rated:

Goodman Group (ASX: GMG)

The first blue chip to look at is Goodman Group. It is an integrated commercial and industrial property group which has generated consistently strong returns for investors over the last decade.

This has been driven by the diversity of its portfolio and its exposure to quick growing markets such as ecommerce. Pleasingly, the latter market has resulted in strong demand from blue chip customers such as Amazon, DHL, and Walmart. And given the way the pandemic is accelerating the shift to online shopping, these properties look set to be in strong demand for a long time to come.

One broker that is very positive on Goodman Group is Morgan Stanley. It has been pleased with its development work in recent months, its sky high occupancy rates, and the yields it is commanding. As a result, it has an overweight rating and $20.90 price target on its shares. This compares to the latest Goodman share price of $17.56.

Ramsay Health Care Limited (ASX: RHC)

Another ASX blue chip share to consider is Ramsay Health Care. Trading conditions were tough for the private hospital operator in 2020 because of the pandemic, but things are certainly improving now.

In fact, a note out of Goldman Sachs this week reveals that it believes Ramsay is trading largely as normal in Australia now. It commented: “Contrary to many other hospital groups globally, most of RHC’s core market has been operating largely unencumbered since July, and entirely without volume limitations since end-November.”

This is a big positive given that almost two-thirds of its earnings are generated in the local market.

In light of this, a significant backlog of surgeries, and its belief that Ramsay is well-placed for solid earnings growth over the coming years, Goldman Sachs upgraded its shares to a conviction buy rating.

The broker has a price target of $70.00 on its shares. This compares to the latest Ramsay share price of $63.31.

More reading

• Why Data#3, JB Hi-Fi, Ramsay, & Zip shares are charging higher
• ASX 200 down 0.5%: JB Hi-Fi guidance impresses, Super Retail update, Ramsay surges
• Ramsay Health Care (ASX:RHC) share price on watch after broker upgrade
• 5 things to watch on the ASX 200 on Monday
• 2 ASX 50 shares to buy

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Ramsay Health Care 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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With earnings season on the horizon, I thought I would start to take a look at what is expected from some of Australia’s most popular companies.

Earlier today I looked at Coles Group Ltd (ASX: COL). You can read about that here. Whereas on this occasion, I’m going to take a look at its rival Woolworths Group Ltd (ASX: WOW).

What is expected from Woolworths in the first half of FY 2021?

Due to the favourable changes in consumer spending because of COVID-19, expectations are high for Woolworths in FY 2021.

However, one leading broker that suspects the retail giant could fall short of expectations is Goldman Sachs. In light of this, it will come as no surprise to learn that it has a neutral rating on the Woolworths share price.

According to a broker note, Goldman is expecting Woolworths to deliver total revenue of $35,789.7 million in the first half. This will be a 10.1% increase on the prior corresponding period.

Its analysts expect this to be driven by a 10.9% lift in Australian Food sales to $23,520.1 million, a 17.6% jump in Endeavour Drinks sales to $5,616.2 million, a 15.3% increase in Big W sales to $2,477.6 million, and a 1.1% rise in NZ Supermarket sales to $3,403.6 million.

Partially offsetting this will be its Hotels business, which has struggled during the pandemic from closures and social distancing restrictions. Goldman is forecasting a 25.5% decline in sales to $684.7 million.

What about its earnings?

While Goldman is actually ahead of the consensus by 0.9% on its sales estimates, it sits well and truly behind the consensus on its earnings estimates.

The broker doesn’t expect its margins to be as strong as the market is forecasting. It is expecting a net profit of $1,030.2 million for the first half. This will be up 5.3% on the prior corresponding period but is 4.7% lower than the consensus estimate of $1,080.6 million.

It is a similar story for Woolworths’ interim dividend, which Goldman is expecting to come in at 48.8 cents per share. This compares to the consensus estimate of a 54 cents per share interim dividend.

Is the Woolworths share price a buy?

As I mentioned above, as things stand, Goldman Sachs is sitting on the fence with this one. It has a neutral rating and $39.90 price target on Woolworths shares.

This compares to the latest Woolworths share price of $39.54.

More reading

• CV Check (ASX:CV1) share price flat on results update
• ASX 200 Weekly Wrap: ASX drops despite promises of more US stimulus
• Why the Pure Foods (ASX:PFT) share price popped today
• How to invest in ASX shares in a post-COVID world 
• 5 ways to lose your money forever

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of COLESGROUP DEF SET and Woolworths 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 Maggie Beer Holdings Ltd (ASX: MBH) share price has had a massive year, jumping up more than 160% in the past 12 months.

Shares in the Maggie Beer Group – which encompasses Maggie Beer products, Paris Creek Farms and Saint David Dairy brands – went up 3.5% yesterday on a positive trading update, but flopped more than 8% in opening trade today. At the time of writing, the Maggie Beer share price has regained some lost ground, now trading at 42 cents, down 1.8%.

Let’s take a closer look at what’s happening.

What did the Maggie Beer quarterly release say?

In yesterday’s release, the company said it had achieved record sales and booming growth across multiple initiatives during the first half of FY21. E-commerce sales increased by 167%, net sales powered up 20%, and the cash position has increased $1.2 million compared to the prior corresponding period.

Commenting on the progress, Maggie Beer Group CEO Chantale Millard said:

It is fantastic for the group to have such a strong start to FY21 and the team have done a tremendous job managing the growth over the past 6 months. We are looking forward to continuing this trend, by supplying premium Australian products to our consumers.

Maggie Beer presently holds a cash balance of $6.3 million following the $1.2 million gain realised in the first half of FY21.

Coles partnership helps along the way

Following the announcement of a partnership with Coles Group Ltd (ASX: COL) last August, the Maggie Beer share price has continued to find its way upward. Coles agreed to launch a range of plant-based meals across approximately 400 Coles locations nationwide.

The day this news was announced, the Maggie Beer share price jumped 23%.

Capitalising on growth opportunities 

According to yesterday’s update, Maggie Beer will continue to focus on growth as we enter 2021. The company’s market cap has reached $86.1 million and the company has roughly 207 million shares outstanding.

Maggie Beer expects its cash holdings to increase further when incoming third quarter payments quarter for the second quarter trading period are received.

Said Ms Millard: “With our strong cash and balance sheet position, we are well-placed to capitalise on our growth opportunities.”

More reading

• Netflix is considering a stock-buyback program
• Why the Botanix (ASX:BOT) share price rocketed 22% to a record high today
• Here’s a fantastic ETF that ASX investors need to know about
• Top brokers name 3 ASX shares to buy today
• Why the Smartpay (ASX:SMP) share price has stormed to an all-time high

Motley Fool contributor Gretchen Kennedy 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Netflix Inc (NASDAQ: NFLX) shares surged in after-hours trading on Tuesday following the company’s strong fourth-quarter update. Not only did Netflix report better-than-expected revenue and subscribers, but it also said it’s on pace to become sustainably cash flow positive in the near future. Indeed, management is so confident in this outcome that it’s already considering putting some excess cash flow to use in a share-repurchase program.

Here’s a look at the key takeaways from the streaming-giant’s fourth-quarter results.

Netflix Q4 earnings: The raw numbers

Metric	Q4 2020	Q4 2019	Change
Revenue	$6.64 billion	$5.47 billion	21.5%
Earnings per share	$1.19	$1.30	(8%)
Subscribers	203.7 million	167.0 million	21.9%

Source: Netflix fourth-quarter shareholder letter. Table by author.

Netflix’s fourth-quarter revenue rose 22% year over year to $6.64 billion, surpassing analysts’ average estimate for revenue of $6.63 billion. Earnings per share (EPS) of $1.19 was below analysts’ view for $1.30, but the company’s reported earnings-per-share figure notably included a $258 million non-cash charge from currency remeasurement on the company’s euro-denominated debt. Quarterly net income would have been nearly 50% higher without this non-cash unrealized loss.

The quarter was fueled by a 22% year-over-year increase in subscribers. Netflix added 8.51 million paid members during the quarter, well ahead of management’s guidance for 6 million net additions. 

Highlighting Netflix’s incredible momentum for the full year of 2020, the company managed to add a record 37 million new members during the year.

Big cash flow is on the horizon

While Netflix’s financial results and subscriber performance were notable, the star of the quarter was management’s commentary on cash flow: “We believe we are very close to being sustainably [free cash flow] positive. For the full year 2021, we currently anticipate free cash flow will be around break even (vs. our prior expectation for -$1 billion to break even).”

Free cash flow, which is equal to cash generated from operations less capital expenditures, is the cash that a business generates after all operating and investment activity is accounted for. It represents the cash that can be used to pay off debt, repurchase shares, make acquisitions, or even pay dividends.

Netflix has long been known for burning through its cash as it spends heavily on content creation. Big spending on content has led the company to repeatedly turn to debt markets to raise capital. But Netflix’s higher sales and greater economies of scale today mean that those days may be over soon. Management explained:

Combined with our $8.2 billion cash balance and our $750m undrawn credit facility, we believe we no longer have a need to raise external financing for our day-to-day operations. Our 5.375% February 1, 2021 bonds mature in Q1. We plan on repaying the bond at maturity out of cash on hand, as we are currently well above our minimum cash needs.

Even more, the company said it will be exploring the idea of using some of its excess cash to repurchase shares.

Shares of the growth stock soared as much as 13% in after-hours trading on Tuesday as investors applauded Netflix’s improving financial position.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

More reading

• Netflix has a lot to prove to investors this week
• Netflix just lost nearly 1 billion hours worth of content
• Netflix earnings: 3 trends to watch
• FAANG stocks make their case to lead the Nasdaq in 2021
• The top streaming stocks to buy in 2021

Daniel Sparks has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Netflix. The Motley Fool Australia has recommended Netflix. 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The Botanix Pharmaceuticals Ltd (ASX: BOT) share price has been on fire on Wednesday.

At one stage today, the clinical stage synthetic cannabinoid company’s shares were up over 22% to a record high of 16.5 cents.

In afternoon trade the Botanix share price has faded a touch but is still up a sizeable 11% to 15 cents at the time of writing.

Why is the Botanix share price rocketing higher?

Investors have been buying Botanix shares following the release of an announcement this morning.

According to the release, research data from its antimicrobial platform has been published in Nature Research’s peer-reviewed journal, Communications Biology.

The lead author is Dr Mark Blaskovich, Director of the University of Queensland’s Centre for Superbug Solutions in the Institute for Molecular Science. He is joined by Botanix Directors Matt Callahan and Dr Michael Thurn as co-authors.

The company explained that the research represents the culmination of research collaborations involving leading antimicrobial researchers across the world. Furthermore, all research data generated is fully owned by Botanix and is the subject of several patent applications.

What was said about the research?

The release reveals that Communications Biology editors summarised the article as follows:

“Blaskovich et al. demonstrate the antimicrobial applications of cannabidiol in a range of pathogenic bacteria, including MRSA and the capacity to kill the Gram-negative bacteria Neisseria gonorrhoeae. This article highlights the potential for cannabidiol in the age of antimicrobial resistance.”

Botanix President and Executive Chairman, Vince Ippolito, was delighted with the development. He said:

“The published data clearly establishes Botanix as the world leader in characterising and exploiting the pharmaceutical potential of synthetic cannabinoids as antimicrobials – and vast potential for the development of novel and effective treatments. Congratulations to all the collaborators involved in this significant body of research.”

BTX 1801 Phase 2a antimicrobial study update

In addition to this, the company provided an update on its BTX 1801 Phase 2a antimicrobial study.

According to the release, the BTX 1801 antimicrobial clinical study is complete and it is on track to announce data within the first quarter of 2021.

This study aims to test the ability of the nasally applied BTX 1801 ointment to eradicate Staphylococcus aureus (Staph) and methicillin-resistant Staphylococcus aureus (MRSA) from the nose of individuals known to carry these bacteria in their nasal cavity.

Botanix notes that nasal “carriage” of Staph and/or MRSA greatly increases the risks of serious and sometimes life-threatening infections following surgery, as patients essentially infect themselves.

At present, nasal decolonisation is a commonly used method for preventing surgical site infections. However, overuse of the widely available antibiotic Bactroban (also known as mupirocin) has led to a significant increase in the development of bacterial resistance to antibiotics.

The double-blind, vehicle controlled BTX 1801 Phase 2a clinical study has been designed to evaluate the safety and local tolerability of two formulations of BTX 1801 to decolonise Staph and MRSA in the nose of healthy adults.

All eyes will be on the Botanix share price when that data is released.

More reading

• Here’s a fantastic ETF that ASX investors need to know about
• Top brokers name 3 ASX shares to buy today
• Why the Smartpay (ASX:SMP) share price has stormed to an all-time high
• Here’s why 25-bagger Latin Resources (ASX:LRS) is making news today
• Why the Archer Materials (ASX:AXE) share price is 33% higher today

Motley Fool contributor James Mickleboro 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 isn’t hard to see why exchange traded funds (ETFs) are becoming very popular with Australian investors.

Through just a single investment, these funds allow investors to invest in a large number of shares.

As well as making diversification easier, it means investors can gain exposure to indices, sectors, or themes that would have been almost impossible to do so 10 years ago.

One popular ETF that ASX investors might want to get better acquainted with is summarised below:

BetaShares Asia Technology Tigers ETF (ASX: ASIA)

The BetaShares Asia Technology Tigers ETF gives investors the opportunity to invest in some of the biggest and brightest technology and ecommerce companies that have their main area of business in Asia.

BetaShares notes that this funds provides diversified exposure to a high-growth sector that is under-represented in the Australian share market. There are a total of 50 companies included within the ETF.

One of these is Baidu, which is widely regarded as the Chinese version of Google.

As well as being the dominant search engine in China, Baidu has a keen focus on artificial intelligence (AI) and is aiming to be an autonomous vehicle giant. In 2019, the company ranked number one in the amount of AI-related patent applications in China for the second consecutive year.

Another company included in the fund is Alibaba. It is the Amazon of China and at the end of September had 757 million annual active customers.

Across its Alibaba, Taobao, and Tmall brands, the company is estimated to control a sizeable 56% of China’s e-commerce market. It also has a presence offline with a growing network of grocery stores, hypermarkets, and department stores.

A third company of note that you’ll be buying a slice of is Tencent. It is one of the world’s largest tech companies with a focus on video games and social media.

It is best known as the company behind the WeChat app, which is China’s most dominant instant-messaging service and currently has over 1.2 billion active users globally. In addition to this, the app has a virtual duopoly with Alibaba’s Ant Group in the mobile payments industry in the country. Tencent is also a substantial shareholder of Afterpay Ltd (ASX: APT).

The BetaShares Asia Technology Tigers ETF share price is up 63% over the last 12 months.

More reading

• 3 great ASX tech shares to buy
• 2 outstanding ASX ETFs to buy
• 2 ASX ETFs to buy for 2021 and beyond
• US decides against delisting Tencent and other Chinese giants
• 2 quality ETFs for ASX investors in January

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended BetaShares Asia Technology Tigers ETF. 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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Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.

Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Baby Bunting Group Ltd (ASX: BBN)

According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $5.50 price target on this baby products retailer’s shares. The broker suspects that Baby Bunting could outperform expectations in the first half of FY 2021 due to market share gains and its strong online presence. In addition to this, the broker feels it is in a stronger position than its competitors due to its size. This provides it with better quality customer data and strong buying power with suppliers. The Baby Bunting share price is trading at $5.25 this afternoon.

Megaport Ltd (ASX: MP1)

Analysts at UBS have retained their buy rating but trimmed the price target on this global elastic interconnection services provider’s shares to $15.45. This follows the release of its second quarter update earlier this week. Although its ports growth was softer than UBS was expecting, it notes that its overall performance has improved since the first quarter. Furthermore, the broker remains positive on the future and expects the company to benefit greatly from the structural shift to the cloud. The Megaport share price is fetching $12.17 on Wednesday.

Zip Co Ltd (ASX: Z1P)

A note out of Morgans reveals that its analysts have retained their add rating but reduced their price target on this buy now pay later provider’s shares to $7.86. According to the note, the broker has trimmed its FY 2021 estimates to account for softer margins, but lifted its FY 2022 estimates to reflect its belief that its sales will be stronger than previously expected. Morgans believes the buy now pay later industry is well-placed for growth in the current environment. The Zip share price is trading at $5.99 this afternoon.

More reading

• ASX 200 up 0.5%: BHP’s update, PolyNovo jumps, Ansell impresses
• ASX 200 rises 1.2%
• ASX 200 up 1.2%: Bingo rockets, Rio Tinto update, Domino’s jumps
• Why Bathurst Resources, Megaport, Orocobre, & Splitit shares are dropping lower
• Why the Megaport (ASX:MP1) share price is sliding lower today

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

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