The Zip Co Ltd (ASX: Z1P) share price slumped more than 20% last week despite a strong quarterly result and a recent game changing acquisition. This compares to the likes of other buy now, pay later (BNPL) operators Afterpay Ltd (ASX: APT), Openpay Group Ltd (ASX: OPY) and Splitit Ltd (ASX: SPT) that all suffered smaller pullbacks. Could this be an opportunity to buy the Zip share price? 

QuadPay acquisition 

The company’s recent acquisition of United States-based, QuadPay, will result in QuadPay shareholders receiving up to a maximum of 119 million fully paid ordinary Zip Co shares, equivalent to 23.3% of its issued shares. Furthermore, Zip Co has also received $100 million in convertible notes with an initial conversion price of $5.53 and $100 million in warrants with an initial exercise price of $5.16 from US private equity firm, Susquehanna International Group. 

Q4 FY20 update 

On 15 July, Zip Co provided a trading update for the quarter ending 30 June 2020. The update delivered sound improvements in all key metrics with quarterly revenue increasing 64% to $44.2 million, its merchant base increasing 51% to 24,500 and active customers increasing 60% to 2.1 million on the prior corresponding period. Pleasingly, the company beat the goals it had set in 2019 with a target of $2.2 billion in annualised transaction volume. Based on Q4 results, its total transaction volume (TTV) sits at $2.3 billion or $3.2 billion if QuadPay is included. 

The recent quarter also saw continued investment in product innovation to make it easier for global retailers to onboard Zip’s products and additional verticals for customers. This includes the launch of its food ordering app called Hey You, its first global payments partner, the Cotton On Group, and fast tracking its Shop Everywhere feature that allows customers to transact at any merchant online using a one-time virtual card. 

QuadPay delivered very strong numbers with a TTV of US$163 million for the quarter, up 9% QoQ and 800% YoY. Active customers continued to increase as a result of strong online spending in the US. More than 325,000 new customers were added bringing total customers to 1.8 million up 475% on the same period in FY19. 

Is the Zip share price a buy? 

BNPL shares have always been very volatile but for the right reasons. Zip Co’s Q4 update showed reasonable growth for its maturing Australian business and explosive figures in the US. I believe the acquisition of QuadPay is a game changer for Zip on all fronts. It bolsters the company’s financial performance and opportunity for cross-company collaboration as well as taps into a $5 trillion US retail market. Despite gaining back 2.5% to currently trade at $6.05, I believe the Zip share price represents fair value after the significant discount last week. 

More reading

• Why the BlueScope share price is outperforming today
• Zip and Openpay were among the most traded shares on the ASX last week
• 5 of the worst performing ASX shares from last week
• Respiri share price pops 17% after revealing merchant agreement with Zip
• Why these 9 ASX shares have doubled in value in the past year

Lina Lim has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Is the Zip share price a buy after falling 20% last week? appeared first on Motley Fool Australia.

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If you’re interested in investing in mid cap shares, then you’re in luck.

At present I believe there are a good number of mid cap shares that have the potential to grow strongly over the next 10 years.

Two mid cap ASX shares that I think are worth considering are listed below. Here’s why I like them:

BINGO Industries Ltd (ASX: BIN)

While waste management may not be the most exciting industry to invest in, I believe the potential returns on offer with BINGO shares over the next decade could be exciting. While the pandemic is likely to weigh on its near term performance, I believe its long term outlook remains very positive.

This is thanks largely to its expansion plans and the game-changing acquisition of rival Dial a Dump Industries. This acquisition has allowed BINGO to be fully vertically integrated from collections to landfill. It also makes it the largest player in building and demolition waste in Sydney and provides it with some much-needed diversification. 

Megaport Ltd (ASX: MP1)

Another mid cap ASX share that I would buy with a long term view is Megaport. It is an elasticity connectivity and network services company which has been growing at an astonishing rate. Its service allows users to increase and decrease their available bandwidth in response to their own demand requirements.

This is instead of being tied to fixed service levels on long-term and expensive contracts. Due to the popularity of its service, its growing footprint in data centres globally, its first-mover advantage, and the accelerating shift to the cloud, I’m confident that Megaport’s strong growth can continue for a long time to come. Overall, I feel this could make it one of the best buy and hold options on the ASX right now.

More reading

• 5 of the worst performing ASX shares from last week
• ASX 200 Weekly Wrap: Blue chip shares pull ASX 200 back over 6,000 points
• These were the worst performing ASX 200 shares last week
• Why these are the top performing ASX 200 shares over the past year
• Pointerra share price soars 77% on $2.5 million placement to tech entrepreneur

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 MEGAPORT FPO. The Motley Fool Australia has recommended MEGAPORT FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Buy and hold these mid cap ASX shares for strong potential returns appeared first on Motley Fool Australia.

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The SEEK Limited (ASX: SEK) share price has been a very strong performer over the last few months.

The job listings company’s shares are up over 93% from their March low and are now trading within sight of their 52-week high.

Is it too late to buy SEEK shares?

While I still think SEEK shares would be a great long term option for investors, they certainly aren’t the bargain buy they were a few months ago.

One leading broker that thinks its shares have now peaked is Goldman Sachs. This morning the broker retained its neutral rating and lifted its price target on the company’s shares by 14% to $20.20.

This price target implies potential downside of 7% based on the current SEEK share price.

What did Goldman Sachs say?

Overall, the broker is actually very positive on SEEK’s outlook and is forecasting a swift rebound in earnings before interest, tax, depreciation, and amortisation (EBITDA) in FY 2021.

It expects the pandemic to lead to a 10% decline in EBITDA in FY 2020 to $409.9 million. However, in FY 2021 it is forecasting a 16% jump in EBITDA to $475.7 million.

After which, it expects its strong growth to continue in FY 2022, with EBITDA lifting another 23% to $585.2 million. This is despite a potential reduction in listing volumes in the ANZ market due to budget constraints.

Goldman commented: “Based on a number of discussions, we believe most recruiters will attempt to maintain, or only marginally increase total budgets (at least initially) despite the c.50%/c.25% price rises in FY21/22 from SEK. We estimate that should total recruitment budgets increase 10% each year, these contracts would result in a decline of total ANZ volumes of -12%/-5% in FY21/22, but result in yields improving +16%/+7% (all else equal).”

Another driver of earnings growth is expected to be the Asia Pacific & Americas (AP&A) business.

Goldman notes recent commentary which indicates that management has an increased focus on operational efficiencies for the AP&A business and is aiming to hold the total cost base flat into FY 2021.

“This is pleasing, given years of significant investment has limited EBITDA growth, despite the strong revenue performances,” it explained.

So why is Goldman Sachs not buy-rated?

SEEK’s valuation appears to be an issue for the broker and the reason it doesn’t have a buy rating on its shares right now. At 18.4x FY 2021’s EV/EBITDA, its valuation appears a bit too rich for this broker.

One broker that would disagree is Credit Suisse. Late last month its retained its outperform rating and $24.00 price target on SEEK’s shares.

At this point, I would have to side with Credit Suisse and be a buyer of its shares. I think its very positive long term outlook justifies the premium its shares trade at today.

More reading

• 5 things to watch on the ASX 200 on Monday
• How I’d build a $100,000 ASX portfolio of growth shares
• Why I would buy these blue chip ASX 200 shares this week
• Macquarie picks ASX stocks that can deliver positive earnings surprises next month
• 3 high quality blue chip ASX shares Warren Buffett might buy

Motley Fool contributor James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia has recommended SEEK Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Is the SEEK share price in the buy zone? appeared first on Motley Fool Australia.

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The Ecofibre Ltd (ASX: EOF) share price is up 3.56% today after the company announced its FY20 profits are expected to double. FY20 net profit after tax is expected to be around $12.5 million, an increase of more than 100% on the FY19 result. 

What does Ecofibre do? 

Ecofibre is a provider of hemp products in Australia and the United States (US). In the US, Ecofibre’s Ananda Hemp and Ananda Professional brands produce nutraceutical products for human and pet consumption as well as topical creams and salves.

In Australia, the Ananda Food brand produces Australian grown and processed hemp food products including protein powders and hemp oil. Ecofibre’s Hemp Black business is focused on developing hemp-based textiles and composite materials in partnership with TexInnovate in the US. 

What did Ecofibre announce? 

Ecofibre released its quarterly report and provided an update on trading performance, including FY20 guidance. CEO Eric Wang said, “we expect our FY20 NPAT to be around $12.5 million, up more than 100% in our FY19 result. The result is underpinned by full year revenue in excess of $50 million and a business model that focuses on profitable growth in sales and EPS.” 

Ecofibre delivered a strong annual result, despite a challenging final quarter that included significant upheaval across the supply chain and customer base. The business has adjusted focus as required, with its Hemp Black business tapping into demand for PPE while the Ananda Food business continues to experience steady sales growth.

The Ananda Health business remains the number one supplier to retail pharmacies in the US by a wide margin, with the company reporting it has over 50% market share nationally. 

What’s next for Ecofibre? 

Ecofibre believes pharmacies are the preferred channel for long-term patients utilising CBD for health and beauty. It plans to gain access to more pharmacies and practitioners over time to expand market reach for the Ananda Health brand.

Hemp Black continues to invest in addressing market demand for PPE, launching a face mask late in FY20. Around 135,000 masks were sold in May and June resulting in $2.4 million in revenue. Manufacturing capacity will double this quarter to 130,000 masks per month with distribution of masks to Australia beginning this week. 

Ananda Food’s newly formulated protein powder is to be used by plant-based food producer The Alternative Meat Co in an upgraded range of products. The launch is planned for August with products to be available in Coles. Woolworths will begin stocking Ananda’s hemp seed oil in August under its Macro brand alongside its existing hemp seed and protein powder products. 

More reading

• Why the BlueScope share price is outperforming today
• Are you a ‘risky’ investor in ASX 200 shares?
• The Redbubble share price is up almost 500% from its low: Is it too late to invest?
• Immuron share price shoots 6% higher after receiving FDA guidance for new drug
• Is the Zip share price a buy after falling 20% last week?

Motley Fool contributor Kate O’Brien has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Stock of the day: Ecofibre share price jumps on profit guidance appeared first on Motley Fool Australia.

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Many ASX investors are feeling lost on what to do with the market walking into the reporting season on a tightrope.

There’s a lot at stake as we will find out if the big rebound in the S&P/ASX 200 Index (Index:^AXJO) from the COVID-19 sell-off in March is sustainable.

While no one can predict with any certainty how the August reporting season will play out, there’s one thing I’ve done to prepare.

Shoring up your cash

I’ve sold some of my ASX stocks recently to shore-up my cash position before companies hand in their profit report cards for review.

I was holding very little cash as I had been aggressively buying the market when it crashing earlier this year from the pandemic.

If you don’t have much in the cash tank currently, it won’t be a bad idea to take some profit with the market trading around a four-month high.

ASX buying opportunities

I say this not because I am a market bear. If anything, I think ASX shares are more likely to soldier on than capitulate.

But I suspect the August reporting season will present some interesting buying opportunities that you won’t be able to capitalise on unless you are packing a bit of firepower.

There are also some sectors that I think you could be using as a funding source too. The fact is, some of these ASX stocks have rebounded nicely as we emerged from the nationwide lockdown on faith of a V-shape recovery.

Funding sources

But the resurgence of COVID-19 cases in Victoria and New South Wales highlights the risk that some ASX shares could face downward pressure in the near-term.

It isn’t only the two Australian states that serve as a poignant reminder. Several countries, including Japan, are battling a second wave of infections, while the worst affected like the US and Brazil show little signs of getting on top of their rampant outbreaks.

This means stocks leveraged to global trade, such as the Brambles Limited (ASX: BXB) share price, could issue a sombre outlook with its results.

More write-down pressure

Another group that could disappoint are property stocks. A number of these landlords have recently written down the value of their assets due to the COVID-19 impact, but I think some are at risk to having to devalue assets again.

One possible disappointer is the Mirvac Group (ASX: MGR) share price. While management cut the carrying value of its retail properties by nearly 10% last month, it upgraded the value of its office properties.

The move runs contrary to growing signs of an office glut in our two biggest cities and reports of weaker demand in the COVID new normal.

It’s also worth noting that 9% of Mirvac’s office leases expire in FY21 with a further 8% in the following year.

Questionable ethics

Meanwhile, one stock that might be worth taking some profit on is the surging Kogan.com Ltd (ASX: KGN) share price.

The online retailer, which is a star performer during the coronavirus lockdown, was found guilty by the Federal Court of using dodgy sales tactics.

History has shown that if a company doesn’t care much for its customers, it will treat shareholders much the same.

Further, sales growth could be hurt if customers stop trusting Kogan to offer them a fair deal.

More reading

• 3 top Warren Buffett quotes for ASX investors this week
• 5 top performing ASX 200 shares from last week
• Why these 9 ASX shares have doubled in value in the past year
• ASX 200 down 0.5%: Sydney Airport and South32 updates, HUB24 delivers record Q4
• Why the South32 share price is falling today

Brendon Lau does not own any shares mentioned in the article. Connect with me on Twitter @brenlau.

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Kogan.com ltd. The Motley Fool Australia has recommended Kogan.com ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post One thing you should be doing ahead of the ASX reporting season appeared first on Motley Fool Australia.

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Warren Buffett is one of the greatest investors of all time and an idol for many here at the Motley Fool. The company he is chair and CEO of, Berkshire Hathaway Inc (NYSE: BRK.A)(NYSE: BRK.B), is one of the best and most consistent performers on the American stock market since Buffett took it over back in the mid-1960s.

Despite being nearly 90 years old, Warren Buffett is still looked up to around the world for his sagely investing advice and no-nonsense approach to the share market. So, as I’ve been wont to do in recent weeks, I thought we’d canvas some of Buffett’s wisdom this Monday so we can all start our week on the share market on the front foot. So, fresh from our Fool colleagues over in the great man’s homeland, here are 3 of Buffett’s best quotes to mull over:

“For the investor, a too-high purchase price for the stock of an excellent company can undo the effects of a subsequent decade of favourable business developments.”

This is a problem that keeps cropping up in today’s rather inexplicably strong share market. Investors get so caught up in a company’s perceived strength or positive narrative and are so excited that they might buy the shares at any cost, regardless of the share’s fundamentals or intrinsic value. As Warren Buffett so eloquently warns, this is not a path that will typically lead to long-term wealth creation. So if a company you absolutely love is trading at a price that assumes 10 years of sky-high growth in its share price today, it might instead be worth considering how much you should pay if the next decade doesn’t go as well as investors are hoping.

“If you like spending six to eight hours per week working on investments, do it. If you don’t, then dollar-cost average into index funds.”

Here at the Fool, we think all investors have the potential to outperform the S&P/ASX 200 Index (ASX: XJO) over time. But this is no easy feat and (as Buffett reminds us) requires a lot of research, work and dedication. So if you simply don’t find investing exciting enough to dedicate at least a few hours a week to, it might be worth following Buffett’s advice and sticking primarily to investing in index funds like the Vanguard Australian Shares Index ETF (ASX: VAS). Even though using index funds won’t deliver the gains that a market-beating investor might, it’s still a lot better than not investing at all.

“Read 500 pages like this every day. That’s how knowledge works. It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it.”

What a great quote to end on. Buffett is known as a voracious reader and he credits this habit with much of his success. So if you think all it takes to become a great investor is mastering spreadsheets and maths, think again. Buffett reads because it helps him understand the companies he invests in, the economy in which those companies reside and the world in which they interact and trade. I think all investors would profit from this advice and should aim to improve their knowledge about all things investing as much as possible.

More reading

• One thing you should be doing ahead of the ASX reporting season
• 5 top performing ASX 200 shares from last week
• How to invest $10,000 in ASX 200 shares for growth and dividends
• ASX 200 down 0.5%: Sydney Airport and South32 updates, HUB24 delivers record Q4
• Why the South32 share price is falling today

Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Berkshire Hathaway (B shares) and recommends the following options: long January 2021 $200 calls on Berkshire Hathaway (B shares), short January 2021 $200 puts on Berkshire Hathaway (B shares), and short September 2020 $200 calls on Berkshire Hathaway (B shares). The Motley Fool Australia has recommended Berkshire Hathaway (B shares). We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Investment platform provider CommSec has just released data on the five most traded ASX shares on its platform from last week.

This week all five ASX shares came from just a single area – the buy now pay later sector.

Approximately 21% of trades on the CommSec platform involved buy now pay later companies, which I feel demonstrates just how high investor interest in this particular part of the market is right now.

But which buy now pay later companies are investors buying the most? Here’s the data:

Zip Co Ltd (ASX: Z1P)

Zip shares were the most traded on the ASX by CommSec customers last week. The buy now pay later company’s shares accounted for 8.1% of total trades made on the CommSec platform following the release of its fourth quarter and full year update. According to the data, 70% of these trades were executed by buyers. Despite this buying, it couldn’t stop the Zip share price from tumbling 18.5% lower during the period.

Openpay Group Ltd (ASX: OPY)

The next most traded share on the CommSec platform was Openpay. It was responsible for 5.3% of total trades on the platform last week. Investors were buying its shares after it announced record growth for FY 2020. During the 12 months, Openpay delivered a 141% increase in active customers and a 52% lift in active merchants. This underpinned a 98.2% increase in total transaction value to $192.8 million. The Openpay share price recorded a 28% gain for the week.

Afterpay Ltd (ASX: APT)

The Afterpay share price was popular with investors last week, accounting for 3.4% of total CommSec trades. This follows the announcement of deals with Apple Pay and Google Pay for in-store payments in the United States. However, the buying wasn’t strong enough to prevent the buy now pay later giant from slumping 7% over the period.

Sezzle Inc (ASX: SZL)

Investors were also heavily trading Sezzle’s shares last week. The U.S. based buy now pay later provider’s shares accounted for 2.4% of total trades on the Commsec platform. The Sezzle share price rocketed to a record high on Monday of last week after they returned from a trading halt following the completion of its placement. Sezzle is raising a total of $86.3 million to accelerate its growth strategy and strengthen its balance sheet. These gains didn’t stick, though. By the close of play on Friday, Sezzle’s shares had lost 3.2% for the week.

Splitit Ltd (ASX: SPT)

Finally, Splitit was the fifth most traded share on the CommSec platform last week. It accounted for 1.5% of total trades over the period. This was despite there being no news out of the company. And despite buyers accounting for 63% of trades in the stock, the Splitit share price lost 10.5% of its value last week.

More reading

• 5 of the worst performing ASX shares from last week
• Respiri share price pops 17% after revealing merchant agreement with Zip
• Why these 9 ASX shares have doubled in value in the past year
• ASX 200 Weekly Wrap: Blue chip shares pull ASX 200 back over 6,000 points
• Buy these strong ASX shares for your retirement portfolio

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 ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Sezzle Inc. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Zip and Openpay were among the most traded shares on the ASX last week appeared first on Motley Fool Australia.

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The Mesoblast limited (ASX: MSB) share price performed exceptionally well during the first half of 2020. This is not entirely surprising given Mesoblast is engaging in the development of biologic products for regenerative medicine during a global pandemic.

Across the first half of the year, the Mesoblast share price rose from $2.05 to $3.25 on 30 June. That represents a rise of 58.5% which is pretty impressive considering the time frame. The Mesoblast share price spiked as high as $4.45 and fell as low as $1.02 in what was an incredibly volatile 6 months for the biotech stock.

What does Mesoblast do?

Mesoblast uses its proprietary technology platform to develop and commercialise innovative allogeneic cellular medicines to treat complex diseases. The company targets diseases that are resistant to a conventional standard of care and where inflammation plays a central role.

Mesoblast has four phase 3 products nearing registration:

• Revascor for advanced chronic heart failure
• MPC-06-ID for chronic low back pain due to degenerative disc disease
• Remestemcel-L for moderate to severe acute respiratory distress syndrome (ARDS) due to COVID-19 infection
• Ryoncil for use in steroid-refractory acute host disease

What’s been moving the Mesoblast share price this year?

With COVID-19 still rampant across the globe, it is likely that the rise of the Mesoblast share price is largely due to the promising news regarding Remestemcel’s ability to treat patients suffereing with the disease. In early May, the Mesoblast share price jumped 13% as it commenced trials of its COVID-19 treatment. The trial achieved an 83% survival rate and reported that 75% of patients managed to come off ventilator support within a ten day period.

Furthermore, Mesoblast’s recent financial performance has also been strong. The company recorded a 113% increase in overall revenues to US$31.5 million for the first 9 months of FY 2020, compared to the prior corresponding period. Mesoblast also completed a $138million fund raising in May, adding to the strength of its balance sheet.

In a highlight for the company, it is currently awaiting a priority review of Ryoncil by the United States FDA for the treatment of children with steroid-refractory acute host disease.  The action date is 30 September 2020 and, if approved, Mesoblast will make Ryoncil immediately available in the US market.

Foolish takeaway

The Mesoblast share price has soared a huge 124% in the last year alone, pushing it into the S&P/ASX 200 Index (ASX: XJO). The company has been well placed to benefit from the onset of the pandemic which has been instrumental in fuelling its share price growth this year. Furthermore, since Ryoncil is awaiting registration later this year, and the decision is expected to have huge ramifications for the company’s share price, I believe Mesoblast definitely deserves a place on your watchlist. 

More reading

• 5 of the worst performing ASX shares from last week
• Why these 9 ASX shares have doubled in value in the past year
• ASX 200 Weekly Wrap: Blue chip shares pull ASX 200 back over 6,000 points
• These were the worst performing ASX 200 shares last week
• Why these are the top performing ASX 200 shares over the past year

Motley Fool contributor Daniel Ewing has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Why the Mesoblast share price gained 58% in the first half of 2020 appeared first on Motley Fool Australia.

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