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On Thursday, the S&P/ASX 200 Index (ASX: XJO) was back on form and pushed higher. The benchmark index rose 0.2% to 6,842.9 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 fall

The Australian share market looks set to end the week in the red. This follows a disappointing night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 38 points or 0.55% lower this morning. In the United States, the Dow Jones was down 0.55%, the S&P 500 dropped 1.1%, and the Nasdaq tumbled 1.4% lower.

Oil prices sink

Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a difficult finish to the week after oil prices sank overnight. According to Bloomberg, the WTI crude oil price is down 3.7% to US$85.19 a barrel and the Brent crude oil price is down 3.4% to US$90.87 a barrel. There are concerns that large interest rate increases in the US could impact demand.

Aristocrat rated as a buy

The Aristocrat Leisure Limited (ASX: ALL) share price could be heading a lot higher from current levels according to analysts at Goldman Sachs. This morning the broker retained its buy rating and $43.00 price target on the gaming technology company’s shares. Its bullish view is “based on the strong D&D commitment and pipeline support for future growth, well diversified digital business, leverage to the rapidly recovering land-based business as well as strength in their balance sheet.”

Gold price tumbles

Gold miners including Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could finish to the week deep in the red after the gold price tumbled overnight. According to CNBC, the spot gold price is down 2% to US$1,674.20 an ounce. Higher treasury yields weighed on the yield-less safe haven asset.

Endeavour remains a buy

The Endeavour Group Ltd (ASX: EDV) share price remains in the buy zone according to Goldman Sachs despite regulation changes in Tasmania. The state government has announced plans to introduce a state-wide player card system to provide harm protection to those most at risk of problem gambling. Goldman expects this to be immaterial to Endeavour’s business. As a result, it retains its buy rating and $8.10 price target.

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

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More reading

• Are these ASX growth shares buys after the market selloff?
• Here are the top 10 ASX 200 shares today
• Why Clover, Select Harvests, Whitehaven Coal, and Woodside shares are storming higher
• How this fundie is beating the ASX 300 without fossil fuels
• Why is the Beach Energy share price having such a stellar session?

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 has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Are you wanting to add some ASX growth shares to your portfolio following the market selloff?

If you are, then it could be worth considering the two shares that are listed below. Both have recently been named as buys by analysts and tipped to generate strong returns for investors. Here’s what you need to know about them:

Aristocrat Leisure Limited (ASX: ALL)

The first ASX growth share that could be worth considering following the market selloff is Aristocrat Leisure.

It is one of the world’s leading gaming technology companies with a portfolio of in-demand poker machines and a lucrative digital business named Pixel United. The latter is generating significant recurring revenues thanks to its millions of daily active users.

Analysts at Morgans are very positive on the company and recently named it on their best ideas list. Morgans has an add rating and $43.00 price target on its shares, which implies potential upside of 26% for investors. The broker commented:

ALL is a global market leader in the rapidly growing land-based gaming and mobile gaming industries. It has delivered revenue growth of 17% pa over the past five years and 80% of revenue in FY21 was recurring. We expect ALL to continue to take market share in all its product segments. Demand for its gaming machines and digital games is resilient to economic cycles.

TechnologyOne Ltd (ASX: TNE)

Another ASX growth share for investors to look at following the selloff is enterprise software provider TechnologyOne.

It provides its high quality and sticky software to a range of customers. This includes those in the government, local government, financial services, health & community services, education, and utilities and managed services markets.

Analysts at Bell Potter are positive on TechnologyOne. They currently have a buy rating and $14.25 price target on the company’s shares, which implies potential upside of 22% for investors.

Bell Potter has been pleased with the company’s ongoing transition to become a software-as-a-service (SaaS) focused business and suspects that it could outperform its growth targets. The broker said:

Technology One has had an annual growth target of 10-15% growth in NPAT for a decade but we believe there is potential for the company to lift this annual target to 15-20% at some stage in the next few years.

The post Are these ASX growth shares buys after the market selloff? appeared first on The Motley Fool Australia.

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More reading

• Why I reckon the market has it totally wrong about this ASX tech share in 2022
• Analysts name 3 ASX growth shares to buy next week
• Top brokers name 3 ASX shares to buy today
• 2 discounted ASX shares I’d buy now and one I wouldn’t touch: expert
• Morgans names 3 of the best ASX shares to buy in September

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 has recommended TechnologyOne Limited. 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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If you’re looking to boost your income portfolio this week, then you may want to look at the shares listed below.

Here’s why these ASX dividend shares have been tipped as buys:

Dexus Industria REIT (ASX: DXI)

The first ASX dividend share that could be in the buy zone is Dexus Industria.

It is an industrial and office focused property company that was formerly known as APN Industria. Dexus Industria owns interests in office and industrial properties across the country that provide functional and affordable workspaces for businesses.

Morgans is a fan of the company. It recently commented:

Its analysts currently have an add rating and $3.25 price target on the company’s shares.

They are also forecasting attractive dividends per share of 17.3 cents in FY 2023 and 16.4 cents in FY 2024. Based on the current Dexus Industria share price of $2.70, this will mean yields of 6.4% and 6.1%, respectively.

Healthco Healthcare and Wellness REIT (ASX: HCW)

Another ASX dividend share that has been named as a buy is the Healthco Healthcare and Wellness REIT.

It is a real estate investment trust with a focus on hospitals, aged care, childcare, life sciences, and primary care properties.

Goldman Sachs is very positive on the company and recently named it as one of its top picks in the sector. The broker commented:

[T]he REIT remains one of our top picks in the sector given 1) its net cash position with over $450mn of liquidity, providing flexibility for near term opportunities, 2) its diversified mix of strong tenant covenants in sub-sectors that are majority government-backed across the care spectrum, mitigating potential tenant credit risks, 3) Healthcare and childcare assets valuations have remained resilient, 4) the expansive forecast future demand for assets across the care spectrum, underpinning development opportunities, and 5) inexpensive valuation.

Its analysts have a conviction buy rating and $2.14 price target on its shares.

In respect to dividends, Goldman expects dividends per share of 7.5 cents in both FY 2023 and FY 2024. Based on the current Healthco Healthcare and Wellness REIT unit price of $1.65 this will mean yields of 4.5% for investors.

The post Here are 2 ASX dividend shares experts say are buys appeared first on The Motley Fool Australia.

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More reading

• Brokers name 2 ASX dividend shares to buy this month
• Brokers name 2 ASX dividend shares to buy

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 has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Materials Index (ASX: XMJ) finished 0.37% in the red today, but one ASX mining share certainly bucked the trend.

The Caspin Resources Ltd (ASX: CPN) share price soared 46% today to 95 cents during afternoon trade before finishing at a closing price of 89 cents. That’s 37% higher than yesterday’s close.

So why did this ASX mining share have such a good day?

New discovery

Caspin Resources advised of a major rhodium find at the company’s Yarawindah Brook Project in Western Australia.

Multiple drill holes showed significant rhodium mineralisation at the new Serradella discovery and the Central Yarabrook Prospect.

Highlights include:

• 17m at 2.33 grams per tonne (g/t) 4E (palladium, platinum, rhodium and gold), 0.17% nickel from 131m including:
• 3m at 4.60g/t platinum, 0.87g/t palladium, 0.56g/t rhodium, 0.01g/t gold, 0.17% nickel from 144m

Caspin said the rhodium mineralisation adds more value to the Serradella discovery.

Commenting on the news, chief executive officer Greg Miles said:

When we discovered rhodium in our initial discovery hole, YARC0022, we commenced a large re-assay program in the hope that further mineralisation would be found.

This exercise has surpassed our expectations and with such high-grade results, clearly differentiates Yarawindah Brook from other PGE projects.

Assay results from further drill holes are still pending. A six-month multi-rig drilling campaign at Serradella will start in late October.

Share price snapshot

The Caspin Resources share price has leapt 20% in the past year, but it has fallen around 27% year to date.

For perspective, the ASX 200 Materials Index has shed 5% in the year to date and 1% in the past year.

Caspin has a market capitalisation of about $62 million based on the current share price.

The post Guess which ASX mining share soared 46% today appeared first on The Motley Fool Australia.

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More reading

• 3 ASX mining shares going bananas today

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

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The S&P/ASX 200 Index (ASX: XJO) posted a partial recovery today, led by energy shares. The index closed 0.21% higher at 6,842.90 points.

The market’s day in the green came on the back of its worst session in three months which saw the ASX 200 tumble 2.58% yesterday.

Wall Street – which weighed heavily on the Aussie bourse yesterday – lifted overnight. The Dow Jones Industrial Average Index (DJX: .DJI) rose 0.1% and the S&P 500 Index (SP: .INX) increased 0.3%.  The Nasdaq Composite Index (NASDAQ: .IXIC), meanwhile, gained 0.7%.

Today, the S&P/ASX 200 Energy Index (ASX: XEJ) rallied, posting a 3.7% increase, with coal miners leading the way.

The S&P/ASX 200 Financials Index (ASX: XFJ) and the S&P/ASX 200 Industrials Index (ASX: XNJ) also gained 1.1% and 0.3% respectively.

Sadly, all other sectors closed lower, with the S&P/ASX 200 Real Estate Index (ASX: XRE) weighing heaviest, falling 0.9%.

But which share outperformed all others on Thursday? Let’s take a look.

Top 10 ASX 200 shares countdown

The index’s top performer on Wednesday was coal producer Coronado Global Resources Inc (ASX: CRN).

It’s been on a roll lately amid rising coal prices and bullish brokers. Find out more about the company and what it’s been up to here.

Today’s biggest gains were made by these shares:

ASX-listed company	Share price	Price change
Coronado Global Resources Inc (ASX: CRN)	$1.85	9.14%
New Hope Corporation Limited (ASX: NHC)	$5.82	6.01%
Whitehaven Coal Ltd (ASX: WHC)	$8.87	4.6%
Woodside Energy Group Ltd (ASX: WDS)	$33.73	4.3%
Worley Ltd (ASX: WOR)	$14.38	3.68%
Santos Ltd (ASX: STO)	$7.96	3.51%
Australia and New Zealand Banking Group Ltd (ASX: ANZ)	$23.74	3.44%
Beach Energy Ltd (ASX: BPT)	$1.705	3.33%
Star Entertainment Group Ltd (ASX: SGR)	$2.76	2.99%
Aurizon Holdings Ltd (ASX: AZJ)	$3.74	2.47%

Our top 10 ASX 200 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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More reading

• Why are ASX 200 coal shares breaking records yet again?
• Whitehaven share price rallies to new all-time high on Thursday
• Why Clover, Select Harvests, Whitehaven Coal, and Woodside shares are storming higher
• How this fundie is beating the ASX 300 without fossil fuels
• Why is the Coronado share price leaping 9% on Thursday?

Motley Fool contributor Brooke Cooper 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 Aurizon Holdings Limited. 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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The Pushpay Holdings Ltd (ASX: PPH) share price fell around 10% today on news the donation and church management software business is now unlikely to be taken over.

Shares in the ASX tech company closed the day 9.77% lower at 97 cents a share.

For months, there has been a question over whether Pushpay was going to be acquired.

Takeover not likely to happen

According to reporting by The Australian, private equity group BGH Capital and “at least one other party” have been interested in buying the business.

Goldman Sachs has been advising Pushpay through this process, though it was certainly not guaranteed that a takeover was going to happen.

There has been hefty volatility on share markets in recent months as investors get used to higher interest rates while central banks try to control the strong inflation being experienced around the world.

Lower earnings and multiples

Not only are businesses now having challenges in relation to their costs – such as wages and rent – but investors are now seemingly offering a lower multiple for the earnings. This is also called the price/earnings (P/E) ratio.

The Australian reported: “BGH Capital, advised by Craigs, and global fund Sixth Street have an interest in 20.3% of Pushpay shares. The likely scenario is that BGH Capital and Sixth Street have returned to the negotiating table with a lower price, which is not to the liking of Pushpay’s board.”

With the likely end of a potential takeover, the Pushpay share price has dropped 23% this year and it’s down 27% from the end of May 2022.

Why do interest rates and inflation matter?

As Warren Buffett once said about interest rates:

The value of every business, the value of a farm, the value of an apartment house, the value of any economic asset, is 100% sensitive to interest rates because all you are doing in investing is transferring some money to somebody now in exchange for what you expect the stream of money to be, to come in over a period of time, and the higher interest rates are the less that present value is going to be. So every business by its nature…its intrinsic valuation is 100% sensitive to interest rates.

Latest Pushpay result

For the year ended 31 March 2022, Pushpay reported that its operating revenue rose by 13% to US$202.8 million. Excluding Resi Media, Pushpay increased operating revenue by 6% to US$190.6 million. Net profit after tax (NPAT) went up 7% to US$33.4 million.

In FY23, the company is expecting operating revenue growth of between 10% to 15%. It’s also expecting a “strong growth outlook from FY24 onward”.

The post Pushpay share price dives 10% as takeover validity questioned appeared first on The Motley Fool Australia.

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More reading

• Why Lake, Pushpay, South32, and Tyro shares are dropping
• I think these 2 ASX shares are buys due to exciting growth potential
• Does the bull beat the bear for this ASX tech share?

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 positions in and has recommended PUSHPAY FPO NZX. The Motley Fool Australia has positions in and has recommended PUSHPAY FPO NZX. 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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The Bitcoin (CRYPTO: BTC) price slipped back below the psychologically important US$20,000 level as most Aussies were just starting their day.

As the sun peaked over eastern shores, the world’s number one crypto was trading for US$19,793.

The Bitcoin price briefly managed to break back above US$20,000 but in the afternoon, it has dipped back to US$19,995.

Though still commanding an impressive market cap of some US$384 billion, BTC is down a painful 71% since hitting its all-time highs of US$68,790 on 10 November last year.

Why is the Bitcoin price again under pressure?

Bitcoin came under renewed pressure on Wednesday night following an unexpected uptick in inflation figures out of the United States.

Investors had been hoping to see inflation in the world’s top economy easing. Instead, it went the other direction. Consumer price inflation notched 0.1% higher in August month on month. Core inflation, which takes out food and energy prices, increased a sharp 0.6% from July.

This, of course, bodes poorly for risk assets like the Bitcoin price and most all cryptos. August’s higher inflation figures virtually lock in further aggressive tightening by the US Fed, the world’s most influential central bank.

Commenting on the outlook for rates in the US, head of US economic research at Renaissance Macro Research Neil Dutta said (courtesy of Bloomberg):

The CPI report increases the odds that the Fed hikes by at least another 100 basis points over the November-to-December time frame. This takes the federal funds rate above 4% by year end.

Chief economist at KPMG Diane Swonk agreed, adding, “The CPI puts a 1% hike on the table, and given the hawkish tone the Fed has delivered, ups the ante they will do it.”

The tech-heavy NASDAQ, a solid proxy for investor risk appetite, shed almost 5% on the news.

The Bitcoin price, which stood at US$22,674 before the inflation figures were released, has lost 12% since then.

The post Why did the Bitcoin price just dip below US$20,000? appeared first on The Motley Fool Australia.

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More reading

• Why you should buy Block stock (and it’s not Bitcoin)
• As stocks swoon, can crypto get its mojo back?
• Why Bitcoin and Solana are sinking today
• Why Bitcoin plunged on Tuesday
• The Bitcoin price has tumbled 50% in 2022 but this expert says crypto ‘is here to stay’

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin. The Motley Fool Australia has positions in and has recommended Bitcoin. 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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For most investors of ASX-listed tech shares, 2022 has been a year you’d prefer to erase from the memory bank. However, I believe the heavy-handed selling has produced a number of opportunities in the process.

The information technology sector has been hit the hardest by a flurry of headwinds this year. It’s understandable that investors might take the foot off the gas of loss-making investments as liquidity dries up and the cost of capital surges.

Though, it seems high-quality and profitable businesses have also been tossed to the wayside amid the panic to exit anything tech-related. In my eyes, one such ASX tech share that has succumbed to this situation is Objective Corporation Limited (ASX: OCL).

Here’s why I believe this company could be a beast in a decade’s time.

Like buying TechnologyOne more than a decade ago

When I look at Objective Corp, I see many similarities to enterprise software giant TechnologyOne Ltd (ASX: TNE). Both companies were founded in 1987, both offer a suite of software solutions for government and private enterprises, and both have long been committed to reinvesting 20% of annual revenue into research and development.

Where the two begin to differ is the scale of their respective businesses today. Objective Corp currently holds a market capitalisation of $1.36 billion, whereas TechnologyOne touts a valuation of $3.78 billion.

Likewise, the financials of Objective Corp are dwarfed by those of TechnologyOne. In FY22, the smaller ASX tech share achieved revenue of $107 million and net profit after tax (NPAT) of $21 million. Meanwhile, its larger peer recorded $339 million in revenue and $78 million in NPAT in the latest trailing 12-month period.

However, if we flick back to a full-year report from TechnologyOne in 2010, the financials look very similar to the current day Objective Corp:

Metric	FY2010 TechnologyOne	FY2022 Objective Corp
Revenue	$135.8 million	$107 million
% growth	11%	12%
NPAT	$17.8 million	$21 million
% growth	14%	30%
R&D investment	$27.2 million	$25 million
Subscription-based revenue %	48%	73%

I suspect that Objective Corp is replicating the strategy that paved the way to TechnologyOne’s major software-as-a-service success. Since 2010, the Brisbane-based software company has returned more than 1,200% for shareholders.

Why this ASX tech share has been sold down

The reality is that the Objective Corp share price has been pummelled to the tune of 28% in 2022. Despite the sell-off, the company’s price-to-earnings (P/E) ratio remains at an above-average 70 times earnings. By comparison, TechnologyOne currently trades on a P/E of around 49 times.

In my opinion, the increased transition to cloud-based products and recurring revenue will gradually reduce Objective Corp’s operating expenses. In turn, earnings could experience strong growth and begin to make the company’s valuation much more attractive.

For those reasons, this is an ASX tech share I personally believe makes for a compelling investment.

The post Why I reckon the market has it totally wrong about this ASX tech share in 2022 appeared first on The Motley Fool Australia.

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More reading

• Experts say investors should buy these ASX 200 shares
• 2 profitable ASX tech shares analysts say are buys with 20%+ upside
• Here’s why analysts have slapped buy ratings on these ASX shares
• Experts name 3 ASX growth shares to buy in September
• 3 ASX All Ords shares tumbling lower following full-year results

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 positions in and has recommended Objective Corporation Limited. The Motley Fool Australia has recommended TechnologyOne Limited. 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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These ASX 200 coal shares are firing up again to hit record highs today despite the broader market keeping afloat.

At the time of writing, the S&P/ASX 200 Index (ASX: XJO) is up 0.26% after $60 billion was wiped off during yesterday’s market rout.

Global stocks too plunged following the release of the downbeat US inflation report for the month of August.

The Dow Jones Industrial Average Index (DJX: .DJI) recorded its worst day since June 2020 to fall 3.94% on Tuesday, while the NASDAQ-100 (NASDAQ: NDX) tanked 5.54%.

Nonetheless, despite the doom and gloom, the ASX’s coal miners are steaming ahead on the back of the current energy crisis.

The Whitehaven Coal Ltd (ASX: WHC) share price touched an all-time high of $5.96 earlier today.

However, some profit takers have caused the share to slightly retrace to $5.92, up 5.19%.

On the other hand, the New Hope Corporation Limited (ASX: NHC) share price rocketed to a record $5.85 just after midday.

At the time of writing, its shares are 6.01% higher to $5.82.

And lastly, the Coronado Global Resources Inc (ASX: CRN) share price is also pushing higher by 9.14% to $1.85. Although it isn’t moving into unchartered territory today, it is still worth mentioning given its strong ascent.

For the record, Coronado shares hit an all-time high of $2.49 on 5 May 2022.

Let’s take a look at what’s fuelling these top ASX 200 coal shares to such levels.

What’s fuelling these ASX 200 coal shares?

The price of coal is close to returning to its record high as global demand ramps up for sources of reliable energy.

According to Trading Economics, Newcastle coal futures are fetching at US$444 a tonne, up 1.1% from its previous close.

The all-time high reached for the price of coal was US$457.80 per tonne, earlier this month.

With the Russian war in Ukraine dragging on, European nations are scrambling to secure coal reserves for the upcoming winter.

In addition, India has increased imports as coal inventories have hit their lowest pre-summer levels since 2013.

The world’s second-largest coal importer wants enough coal to meet demand for the next three years.

India receives more than 90% of coal imports from Australia, Indonesia, and South Africa.

The post Why are ASX 200 coal shares breaking records yet again? appeared first on The Motley Fool Australia.

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

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The Zip Co Ltd (ASX: ZIP) share price has been largely unmoved by news the company has handed over 2.5 million new shares to the vendors of Quadpay.

The embattled ASX buy now, pay later (BNPL) share issued the new shares as part of its acquisition of the US BNPL.

The handover was approved by Zip’s shareholders at an extraordinary general meeting back on 31 August 2020.

New share issue doesn’t faze shareholders

The Zip share price is currently down 1.71% in afteroon trade to 86 cents. This puts the value of the new share consideration at $2.15 million.

But the takeover could be the last one Zip does for a while with its expansion plans largely derailed. The BNPL world has dramatically changed with surging inflation forcing central banks to aggressively hike rates.

When money was cheap, interest-free type offerings could generate good profits. But with rates rising quickly and government regulators tightening oversight of the sector, the next few years could be challenging.

Zip shares on the retreat as interest rates advance

In this new environment, Zip has retreated from the UK and Singapore markets and is focusing on the US and Australia-New Zealand (ANZ).

The company is putting on a brave face, even with the Zip share price shedding 87% of its value over the past year.

Last month, Zip reported a 51% increase in FY22 total transaction volumes to $5.7 billion as customer numbers lifted 64% to 7.3 million.

Still aiming for growth

Management also added that customer arrears are improving as it stepped up its screening and risk management.

Further, Zip is reassuring investors that its takeover of Quadpay is paying off. It reported strong growth in that market.

Zip allows users to split the cost of purchases over four interest-free payments, much like its competitors.

The company has a medium-term target to grow revenue by 7% to 7.5% and increase cash earnings before tax, depreciation and amortisation by 1-2%.

Zip share price snapshot

The Zip share price isn’t the only one on the nose. Fellow BNPL company Block Inc CDI (ASX: SQ2) is also nursing losses of more than 40% in the past year.

In contrast, the All Ordinaries (ASX: XAO) has surrendered around 8% of its value over the period.

The post Look who just landed more than $2 million worth of Zip shares appeared first on The Motley Fool Australia.

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More reading

• Smashed! Why is the Block share price down 4% today?
• Why are ASX 200 tech shares being hit the hardest on Wednesday?
• Why is the Zip share price plummeting 7% on Wall Street woes
• Why are ASX 200 shares tumbling like dominos on Wednesday?
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Brendon Lau has positions in Block, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Inc. and ZIPCOLTD FPO. The Motley Fool Australia has positions in and has recommended Block, Inc. 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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