2 IT Stocks That Investors Are Watching - BUD And IFM

  • Nov 28, 2018 AEDT
  • Team Kalkine
2 IT Stocks That Investors Are Watching - BUD And IFM

While tech stocks at the global level have seen a fluctuating trend lately, the scenario at the domestic front has been no different. Below are 2 IT sector stocks which have gained some attention with new deals but are still sailing in different boats when it comes to price movements.

Buddy Platform Ltd (ASX: BUD)

Buddy Platform Ltd (ASX: BUD) is a leader in IoT and cloud-based solutions for making spaces smarter and it is involved in the process of providing simple, affordable and engaging solutions for its customers. On 28 November 2018, the company announced that it has signed a new Statement of Work under its existing Master Services Agreement with Airstream, Inc to extend its relationship with Airstream. It is expected that this new Statement of Work will provide for the deployment of Buddy Cloud technology into new Airstream vehicle lines. It will also provide for updates and new features in existing Airstream vehicles. Following the release of this news, the share price of the company fell by 4.762 percent as on 28 November 2018.

In the September quarter, the company reported customer revenues of A$884k for the quarter reflecting an increase of 16 percent over the June quarter (Q4FY18) and 117% over the same period in the prior year. The company also reported total customer cash receipts of A$1.2 million for the September quarter reflecting an increase of 311% over the June quarter and 186% over the same period in the prior year.

In the last six months, the share price of the company decreased by 16.00 percent as on 27 November 2018. BUD’s shares traded at 0.100 with a market capitalization of circa $112.57 million as on 28 November 2018.

Infomedia Ltd (ASX: IFM)

Leading Global provider of SaaS solutions, Infomedia Ltd (ASX: IFM) recently announced that it has entered into an agreement for the acquisition of automotive data solutions company Nidasu. This acquisition will complement the Infomedia’s existing core business and it will also help the company to access new customers and leverage Infomedia’s data business globally.

Infomedia reported revenue of $72.9 million in FY 2018, which is an increase of 3.5% on the previous year. Company’s Net profit after tax (NPAT) was $12.9 million, which is 7.9% higher the prior period (FY17: $11.9 million), reflecting stronger growth in the second half and disciplined cost management. Net current assets at 30 June 2018 were $11.5 million (FY17: $13.5 million) including cash and cash equivalents of $13.3 million (FY17: $13.3 million). Infomedia expects its growth trajectory to continue to improve in the 2019 financial year (FY19) with the full benefit of recurring revenue from contracts won.

During FY 2018, the company saw investment in both executive upskilling and the appointment of new regional heads of sales in both the Americas and Asia Pacific region. The company is seeking to acquire assets that could complement the company’s core and accelerate growth.

In the last six months, the share price of the company increased by 25.97 percent as on 27 November 2018. IFM’s shares traded at $1.165 (up 2.2%) with a market capitalization of $354.78 million as on 28 November 2018.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

 

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK