Tag: Motley Fool

On Thursday, the S&P/ASX 200 Index (ASX: XJO) was on form again and pushed higher. The benchmark index rose 0.3% to 7,288.5 points.

Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to sink

The Australian share market looks set to end the week deep in the red after the US inflation reading of 7.5% spooked Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 33 points or 0.5% lower this morning. In late trade on Wall Street, the Dow Jones is down 1.25%, the S&P 500 is down 1.4%, and the Nasdaq is down 1.5%.

IAG half year results

The Insurance Australia Group Ltd (ASX: IAG) share price will be one to watch on Friday. This morning the insurance giant is due to release its half year results. According to a note out of Morgans, it expects IAG to deliver a below consensus cash profit after tax of $210 million. The market is expecting $285 million for the half.

Oil prices edge lower

Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a subdued day after oil prices edged lower. According to Bloomberg, the WTI crude oil price is down 0.1% to US$89.55 a barrel and the Brent crude oil price is down 0.4% to US$91.20 a barrel. Oil prices edged lower after US-Iran sanction talks progressed.

Gold price softens

Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a subdued finish to the week after the gold price dropped. According to CNBC, the spot gold price is down 0.15% to US$1,833.50 an ounce. US inflation data came in ahead of expectations, sparking fears that rates could increase quicker.

Goldman retains buy rating on NAB

The team at Goldman Sachs has responded to the National Australia Bank Ltd (ASX: NAB) first quarter update by retaining its add rating and lifting its price target slightly to $31.33. Goldman commented: “NAB’s 1Q22 cash earnings from continuing operations were up 12% on the previous period average to A$1.80 bn, 6% ahead of what was implied by our previous 1H22E forecasts.”

The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Why AMP, AVZ, Megaport, and NAB shares are pushing higher
• NAB (ASX:NAB) share price jumps after scintillating quarter
• Shareholders are happy with the NAB (ASX:NAB) earnings beat. But what do analysts say?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended Insurance Australia 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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If you’re a fan of growth shares, then you may want to look closely at the three shares listed below.

Here’s why these growth shares have been rated as buys:

Adore Beauty Group Limited (ASX: ABY)

The first ASX growth share to look at is Adore Beauty. It is a leading online retailer in the $11.2 billion Australian beauty and personal care (BPC) market. It currently has almost 1 million active customers and generated revenue of $63.8 million during the first quarter. When annualised, this represents just a 2.3% share of a market that is still in the early days of its shift online. UBS is a fan of the company and currently has a buy rating and $6.00 price target on its shares.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

Another growth share to look at is Domino’s. It is one of the world’s largest pizza chain operators with stores across the ANZ, Asia-Pacific, and European regions. While it has a sprawling network across these regions, management still sees scope for significant expansion over the next decade. In fact, it is aiming to more than double its network to 6,650 stores in existing markets by 2033. Combined with its track record of same store sales growth, this bodes well for its growth over the next decade. Goldman Sachs is a fan of the company. It currently has a buy rating and $136.20 price target on the company’s shares.

REA Group Limited (ASX: REA)

A final ASX growth share to look at is REA Group. It is the dominant player in real estate listings in the Australian market. REA looks well-placed for growth in the coming years thanks to new revenue streams, cost cutting, price increases, and its international operations. The company has also been busy making acquisitions, which has strengthened its offering, particularly in mortgage broking. Goldman Sachs is also positive on REA. It has a buy rating and $167.00 price target on its shares.

The post 3 buy-rated ASX growth shares to make you smile appeared first on The Motley Fool Australia.

More reading

• Why Appen, ANZ, Magellan, and REA shares are falling
• Leading brokers name 3 ASX shares to buy today
• Top broker picks 6 ASX 200 shares with earnings surprise potential
• Stellar earnings beat but REA (ASX:REA) share price dips… Do brokers say buy?
• Why Boral, Magellan, REA, and SEEK shares are falling today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Adore Beauty Group Limited. The Motley Fool Australia has recommended Adore Beauty Group Limited, Dominos Pizza Enterprises Limited, and REA 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 Telstra Corporation Ltd (ASX: TLS) share price finished in the red on Thursday. This came after the company unveiled two new cybersecurity offerings aimed at government customers.

The company’s share price has gained nearly 3% since market open on 1 February. However, it finished down 0.74% at $4.05 today.

Let’s take a look at what’s been happening with the telco lately.

Cyber focus

Telstra has released two new cybersecurity solutions aimed at local, state and federal government customers.

The two new capabilities, named Sovereign SecureEdge and Cyber Detection and Response, will be made available to customers in coming months, CRN reported.

The telco has a new specialist cybersecurity team that will help to implement the new initiatives, ARN reported.

Telstra enterprise head of government government Nicole McMahon said Telstra’s technology and cyber team can provide federal, state and local government with secure, sovereign and intelligent networks to “keep Australia safe”.

As we recover from the pandemic, reliance on digital services will remain critical. So it’s important that we secure and protect our digital environment, as disruptions due to cyber attacks could significantly impact the economy and its recovery.

Telstra’s capability to protect, detect and respond to cyber threats, coupled with the unparalleled visibility of threats we have from operating the largest and most complex network in Australia, uniquely positions us to be able to act on cyber issues in real time.

Meanwhile, Morgans now rates the Telstra share price as a “buy”, my Foolish colleague James reported today.

Morgans has a price target of $4.56 on Telstra’s shares. The broker is also predicting fully franked dividends per share of 16 cents in both the 2022 and 2023 financial year.

Meanwhile, earlier this week Telstra announced it had secured a new $100 million Internet of Things deal with the Intellihub group.

Telstra share price snapshot

The Telstra share price has gained nearly 28% over the past year but it has fallen 3% this year to date. It has gained 1.76% in the past week but has fallen 2.64% over the past month.

For perspective, the S&P/ASX 200 Index (ASX: XJO) has returned nearly 7% over the past year.

Telstra has a market capitalisation of about $47.6 billion based on the current share price.

The post Telstra (ASX:TLS) targets government’s deep cyber-crime pockets appeared first on The Motley Fool Australia.

More reading

• Broker names 2 ASX dividend shares to buy
• Here are the 3 most heavily traded ASX 200 shares this Wednesday
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• ‘Exciting time’: Telstra (ASX:TLS) share price climbs amid $100 million IoT deal
• Is now the time to rid your ASX share portfolio of COVID losers?

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

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There are a lot of exchange traded funds (ETFs) funds out there for investors to choose from.

Three top ETFs that you may want to look deeper into are listed below. Here’s what you need to know about them:

Betashares Global Sustainability Leaders ETF (ASX: ETHI)

The first ETF for ASX investors to get better acquainted with is the Betashares Global Sustainability Leaders ETF. This ETF aims to track the performance of an index that includes a portfolio of large global stocks identified as “Climate Leaders.” These companies have also passed screens to exclude ones with direct or significant exposure to fossil fuels or those that are engaged in activities deemed inconsistent with responsible investment considerations. Among the shares included in the fund are the likes of Apple, Nvidia, Toyota, and Visa.

BetaShares NASDAQ 100 ETF (ASX: NDQ)

Another exchange traded fund which could be worth looking at is the BetaShares NASDAQ 100 ETF. As you might have guessed from its name, this exchange traded fund gives investors exposure to the 100 largest businesses on Wall Street’s technology-focused NASDAQ index. This includes tech behemoths such as Amazon, Apple, Alphabet, Facebook/Meta, Microsoft, and Netflix.

iShares Global Healthcare ETF (ASX: IXJ)

Another ETF to look at is the iShares Global Healthcare ETF. It offers investors easy exposure to the healthcare, biotechnology, pharmaceutical, and medical device sectors. This means you’ll be buying many of the world’s biggest and best healthcare companies such as CSL Ltd (ASX: CSL), Johnson & Johnson, Novartis, and Pfizer. Due to ageing populations globally and chronic disease burden increasing, demand for healthcare services is expected to increase markedly over the next couple of decades. This could bode well for the shares included in the fund.

The post 3 excellent ETFs you need to know about appeared first on The Motley Fool Australia.

More reading

• 2 excellent ETFs for potential long-term returns
• 3 top ETFs for ASX investors to look at this month
• Top ASX shares to buy in February 2022
• 3 high quality ETFs for ASX investors in February
• Are these 2 leading ETFs good buys in February 2022?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended BETANASDAQ ETF UNITS. The Motley Fool Australia owns and has recommended BETANASDAQ ETF UNITS. 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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Today, the S&P/ASX 200 Index (ASX: XJO) notched up its third consecutive day of gains. At the end of the session, the benchmark index finished 0.28% higher at 7,288.5 points.

The earnings surprises to the upside outweighed the company’s missing expectations today. Once again, the tech sector provided the best returns out of all the ASX sectors today. Financials followed behind as another solid performing sector. Disappointingly, healthcare, utilities, consumer staples, and industrials all experienced a less desirable performance today.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Bapcor Ltd (ASX: BAP) was the biggest gainer today. Shares in the vehicle parts retailer rebounded 10% following its 8% fall yesterday. Investors were unimpressed with the company’s sluggish performance in the first half. Find out more about Bapcor here.

The next biggest gaining ASX share today was Megaport Ltd (ASX: MP1). The software-defined network service provider surged 7.64% after yesterday’s modest performance following the release of the company’s first-half results. Uncover the latest Megaport details here.

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

ASX-listed company	Share price	Price change
Bapcor Ltd (ASX: BAP)	$7.15	10.00%
Megaport Ltd (ASX: MP1)	$14.65	7.64%
Paladin Energy Ltd (ASX: PDN)	$0.79	6.76%
AMP Ltd (ASX: AMP)	$1.07	5.94%
Home Consortium Ltd (ASX: HMC)	$6.60	4.76%
Liontown Resources Ltd (ASX: LTR)	$1.58	4.64%
National Australia Bank Ltd (ASX: NAB)	$29.67	4.51%
Allkem Ltd (ASX: AKE)	$9.90	4.32%
APM Human Services International Ltd (ASX: APM)	$2.90	4.18%
Viva Energy Group Ltd (ASX: VEA)	$2.49	3.97%

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

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

More reading

• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Why AMP, AVZ, Megaport, and NAB shares are pushing higher
• Are Megaport (ASX:MP1) shares a buy after smashing earnings? See what these brokers say
• ASX 200 (ASX:XJO) midday update: NAB impresses, ASX CEO to retire before CHESS replacement completes
• What are brokers expecting for ASX tech shares this earnings season?

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended MEGAPORT FPO. The Motley Fool Australia has recommended Bapcor and 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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The Killi Resources (ASX: KLI) share price had an astonishing first day on the ASX. It rocketed 160% higher.

It has just gone through an initial public offer (IPO) process to raise $6 million to provide funds to enact its business strategy. The offer price was $0.20 and it finished today at $0.52.

What is Killi Resources?

This company is a new gold and copper explorer in Australia.

It has key projects are located in the Tanami region of Western Australia and Charters Towers/Ravenswood region in Queensland.

The projects

The West Tanami Project covers a 1,600 square kilometre land holding. The tenements cover a 100km strike length of the “well-endowed” Tanami Fault System which has several mines already including: The Granites, Dead Bullock Soak, Buccaneer and Coyote. The company revealed that technical evaluations of the prospects provide similar analogous gold signatures to those gold mines along strike to the south-east.

The Balfour Project is a copper exploration project in WA covering 350 square kilometres of the Proterozoic Rift boundary of the Pilbara. Multiple base metals targets have been identified, and remain untested.

The Mt Rawdon West project is situated next to the Mt Rawdon Mine owned by Evolution Mining Limited (ASX: EVN).

Finally, the Ravenswood North project covers a large tenement package in Queensland, inland from Townsville, covering 590 square kilometres and is along the strike of the Ravenswood Mine.

Killi’s operational plans

Killi says that the projects present large-scale exploration opportunities, located in low-risk jurisdictions with excellent access.

These projects are “relatively underexplored” and the ASX share is looking to use “world-class” exploration practices to realise value for stakeholders.

Killi boasts that its board has significant expertise and experience in the mining industry and will aim to ensure that funds raised will be used in a cost-effective way to advance the assets.

Leadership experience

Richard Bevan is the non-executive Chair of Killi. He has been involved in a number of business areas. He has been the managing director CEO and chair of several listed and unlisted companies.

Mr Bevan was the founding managing director of Cassini Resources, which was acquired by OZ Minerals Limited (ASX: OZL). He is currently the non-executive Chair of Nimy Resources Ltd (ASX: NYM), as well as the non-executive director of Cannon Resources Ltd (ASX: CNR).

Greg Miles is a non-executive director and has 25 years of experience in the exploration and delineation of mineral resources.

Killi Resources’ CEO, Kathryn Cutler, is a geologist and has 15 years in the resource industry in Australia. For the past five years, Ms Cutler has held the position of exploration manager for two ASX gold miners – Saturn Metals Ltd (ASX: STN) and Aruma Resources Ltd (ASX: AAJ).

Killi Resources share price snapshot

After the explosive start to listed life, the undiluted market capitalisation of the business has increased from $10.4 million to $27 million.

The post Killi Resources (ASX:KLI) share price kills it on first day of trade, up 160% appeared first on The Motley Fool Australia.

More reading

• Why opening borders might not be the good news A2 Milk (ASX:A2M) shareholders have been hoping for
• 2 ASX mining shares cracking 52-week highs today
• Bitcoin price rally fizzles. Here’s what the experts are watching for next
• What tech sell-off? This ASX 200 share is smashing new, all-time highs
• A new gaming ETF just joined the ASX. Here’s what we know

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 A2 Milk Company Ltd (ASX: A2M) share price finished 1% lower on Thursday.

In a little more than a week, shareholders will be getting a look at the milk company’s performance for the first half. Estimates place A2 Milk’s earnings at NZ$60 million. If analysts are right, that would represent a 50% decrease on 1H21 earnings, which were down 35% from the prior year also.

A major influence on the disappointing performance throughout the pandemic has been the impact on the daigou sales channel. This channel involves purchasing by shoppers in Australia, before travelling back to China with the product.

So, with international travel expected to resume from 21 February — will it bring back A2 Milk sales with it? Maybe not, and here’s a look at why.

Daigou or dai-gone?

While A2 Milk has highlighted in previous ASX announcements that it will remain focused on China, it might not be quite the same.

The destruction caused to the daigou channel by COVID-19 has been vast. In 2019, the industry had reached revenues of $40 billion. Suddenly, it almost ceased to exist with international borders being locked down.

Industry experts have estimated that around 30% of the daigou speciality stores have either temporarily or permanently shut down. Although A2 Milk chair David Hearn has shared his belief that Daigou will not disappear, he also believes it won’t be the same.

In response, the infant formula company is not putting its eggs in the ‘daigou bounceback’ basket and waiting for them to hatch. This is despite indications that the daigou channel has been returning.

The once adored market darling of the ASX, A2 Milk, is taking a different approach. A2 Milk will be opting for a more localised strategy in China. This means building upon its China label brand with increased marketing and improving online sale capabilities.

The decision follows promising metrics displayed to shareholders in the annual general meeting back in November 2021. Namely, sales of A2’s China label were up 15.4% to $389.9 million. Comparatively, sales of the company’s English label were down 52.1%.

How has A2 Milk been doing on the ASX?

The A2 Milk share price has been a catastrophe for shareholders over the last year. In a devastating display of value destruction, A2 Milk has fallen 46% on the ASX during this time period. For context, the S&P/ASX 200 Index (ASX: XJO) has managed to provide a positive return of 6.4%.

Long-term shareholders will be hoping to see a glimmer of the once-booming company in the A2’s results this reporting season.

The post Why opening borders might not be the good news A2 Milk (ASX:A2M) shareholders have been hoping for appeared first on The Motley Fool Australia.

More reading

• The A2 Milk (ASX:A2M) share price has hit multi-year lows in 2022. Is now the time to catch the cream?
• Why has the A2 Milk (ASX:A2M) share price spilled 5% in a month?
• Can the beaten down A2 Milk (ASX:A2M) share price get back to $10?
• Here are the top 10 ASX shares today
• Why A2 Milk, Baby Bunting, Codan, and Sezzle shares are surging higher

Motley Fool contributor Mitchell Lawler 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 recommended A2 Milk. 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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ASX mining shares have started the year well with the overall sector dominating the benchmark index’s return since 2022 began.

The S&P/ASX 300 Metals & Mining Index (XMM) has climbed more than 7% this year to date and another 5% in the past week, indicating these strengths in the broad sector.

The momentum has spilled over into 2 ASX mining shares in particular today, with each name nudging past its 52-week high during the session. Let’s take a look.

Iluka Resources Limited (ASX:ILU)

Shares in Iluka Resources have spiked almost 11% since January 4 and investors are throwing their support behind the company today as well.

The mining and exploration company cruised past its 52-week high in early trading today, hitting a peak of $11.37 before trading back down to now sit at $11.21 on last check.

Previously, the company advised it had recognised a 6% year on year jump and a 54% gain in Zircon production in its quarterly review to 31 December 2021.

With this kind of momentum, analysts at Goldman Sachs reckon that Iluka has potential to deliver an earnings surprise to the upside in its upcoming yearly results on 24 February.

The broker’s forecasts are underpinned by hot-running commodity markets that are suffering supply shortages across the board, driving prices to multi-year highs.

“We are Buy rated on mineral sands/rare earth producer ILU and add the company to our Conviction List (CL) on attractive valuation and compelling Zircon and TiO2 price upside and Rare Earth growth potential” the broker said in a recent note.

Goldman values Iluka at $12.60 per share as of February, alongside Macquarie who values the company a buy at $12.40 per share.

Sandfire Resources Ltd (ASX: SFR)

Shares in copper and gold player Sandfire resources have exploded on the scene in 2022, gaining 13% in that time after rallying 9% in the past week alone.

Investors were positive on the company following the release of its quarterly results last month, where the company reaffirmed its production guidance for the year.

Positively, the acquisition of the MATSA Mining Complex, located in Spain, was given the go-ahead by Spanish authorities in December, marking a huge milestone in the company’s growth narrative.

Sandfire shares popped again in the early days of February after the company advised it had finalised the transaction of the MATSA complex.

As The Motley Fool reported at the time, “the US$1.87 billion (AU$2.6 billion) transaction will transform Sandfire into one of the largest ASX copper-focused miners”.

Consequently, Sandfire now has control of a world-class asset consisting of three underground mining operations in the fertile mining regions of Spain.

In the last 12 months, the Sandfire share price has climbed 58% and has jumped another 9% in the last week of trading alone. Both sets of returns of both stocks are plotted against the mining index on the chart below.

The post 2 ASX mining shares cracking 52-week highs today appeared first on The Motley Fool Australia.

More reading

• What even are rare earths and why are ASX shares with exposure always in the spotlight?
• Top broker picks 6 ASX 200 shares with earnings surprise potential
• Sandfire (ASX:SFR) share price firms after completion of $2.6b acquisition
• Top brokers name 3 ASX shares to sell next week
• Top brokers name 3 ASX shares to sell today

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

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The Bitcoin (CRYTPO: BTC) price currently stands at US$43,845 (AU$59,224).

That’s almost right where it was this time yesterday, but down 3% from levels of US$45,268 on Tuesday, according to data from CoinMarketCap.

Now a 3% fall in the Bitcoin price in 2 days is almost negligible in the highly volatile world of cryptocurrencies.

Indeed, the world’s first crypto remains up 19% over the past 7 days. Though it’s still down 36% from its 10 November record highs.

But after hitting its best winning streak in 4 months, crypto investors are wondering whether the next trend following the current breather will be up or down.

Where to for the Bitcoin price?

Commenting on the recent pullback in the Bitcoin price, Matt Maley, chief market strategist at Miller Tabak + Co said (quoted by Bloomberg), “[The] pullback is due to some profit-taking after a big move. Bitcoin had rallied about 38% on an intraday basis in less than two weeks, so I think it’s just a matter of traders taking some short-term profits.”

Noting that the crypto remains above its trend-line from the 10 November high, Maley added it had “plenty of room to take a breather over the near-term without disrupting its recent advance”.

Meanwhile, analysts at crypto exchange Kraken are keeping a close eye on the pace of the US Federal Reserve’s monetary tightening and the severity of the global pandemic:

With a hawkish shift from the Fed, continued omicron fears, lower stock valuations, and inflation fears at a multi-decade high, crypto remains vulnerable to de-risking should equity markets correct in the coming month(s).

A technical analysis approach

Katie Stockton, founder of Fairlead Strategies, is taking a technical analysis approach in gauging the Bitcoin price.

As Bloomberg reports, Stockton “is tracking something called the monthly MACD momentum gauge for Bitcoin”.

What’s that?

Well, it stands for moving average convergence divergence. Equity analysts use it as a trend-following momentum indicator.

Stockton says the MACD momentum gauge was flashing “buy” since July 2020 before crossing into “sell” at the end of January, when the Bitcoin price fell below US$40,000.

According to Stockton, “It tells us that this year could see more volatility, and it means we need to be more short-term oriented when committing to long positions.”

The post Bitcoin price rally fizzles. Here’s what the experts are watching for next appeared first on The Motley Fool Australia.

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• $3.6 billion crypto heist thwarted, sending this obscure cryptocurrency skyrocketing
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• Why Bitcoin and Ethereum Were Up Big Today
• Bitcoin price rally fuels outsized gains amongst top altcoins

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and recommends Bitcoin.  The Motley Fool Australia owns and recommends Bitcoin. 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 Computershare Limited (ASX: CPU) share price has been on fire this month.

Since trading closed on January 31, it has soared almost 17%. Much of this gain has come on the back of the company’s half-year results, which were released after the market closed on Tuesday.

In fact, the stock transfer company’s shares hit an all-time high of $23.17 during early morning trade today. They ended the day fetching $22.78 apiece, up 2.75%. That follows an 11.24% gain yesterday.

The share price rise comes amid a wider sell-off in the ASX technology sector over recent weeks.

Computershare delivers a positive set of results

The Computershare share price has been surging since the company reported strong numbers for H1 FY22.

For the six months ending 31 December, the company achieved a 4.6% increase in management revenue to US$1.2 billion. This came from growth in register maintenance, governance services, and employee share plans.

Computershare noted that bankruptcy and class actions in the US mortgage services sector remain subdued due to macro challenges.

Looking at the other metrics, management earnings before interest and tax (EBIT), excluding margin income, surged 16.7% to US$157.8 million.

Management earnings per share (EPS) rose 4.5% to 22.76 US cents.

Additionally, the board declared an interim dividend of 24 Australian cents per share, up 4.3% over the prior corresponding period.

No doubt, the robust performance led the Computershare share price to accelerate yesterday and continue its run today.

Helping support this ascent, a group of brokers weighed in on the back of the company’s results.

The team at UBS raised its 12-month price target by 11% to $25.00 for Computershare shares. This was followed by Morgan Stanley which also bumped up its outlook on the company by 16% to $25.00.

Based on the current share price, this implies a potential upside of roughly 10% for investors.

In addition, analysts at Morgans lifted their assessment by 16% to $23.92 for Computershare shares.

Computershare share price snapshot

The Computershare share price has rocketed by 58% since this time last year. It is also up around 14% this year to date.

At today’s price, Computershare commands a market capitalisation of around $13.38 billion.

The post What tech sell-off? This ASX 200 share is smashing new, all-time highs appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• Why CBA, Computershare, Dicker Data, and Temple & Webster shares are on fire today
• ASX 200 (ASX:XJO) midday update: CBA impresses, Mineral Resources delivers a shocker
• Computershare (ASX:CPU) share price jumps 12% after strong half and guidance upgrade
• Are ASX tech shares ‘yesterday’s growth spot’?

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