2 Tech Stocks That Are Charging High - NEA And WTC

  • Jan 16, 2019 AEDT
  • Team Kalkine
2 Tech Stocks That Are Charging High - NEA And WTC

The below mentioned two technology stocks have witnessed positive growth in their share prices today (i.e., 16 January 2019). Further, these technology stocks have reported operational growth in the recent past. Let us take a closer look at these stocks-

Nearmap Ltd (ASX: NEA)

Nearmap Ltd (ASX: NEA) recently announced its H1 FY 2019 preliminary results in which the company reported a 42% YOY growth in its portfolio which includes 107% growth in the US and 23% growth in Australia.

In the United States, as at 31 December 2018, the company had Annualized Contract Value (ACV) portfolio of US$17.6 million. In the past twelve months, the company’s ACV portfolio in the US has doubled. The operational improvement during the first half of 2019 helped the company to deliver the largest half-yearly ACV growth since the beginning of the company operations. The sales team contribution ratio in the US is expected to be more than 100 percent. In Australia, as at 31 December 2018, the company had an ACV portfolio of $53.3 million and the company witnessed a 23% growth in the past twelve months.  At the end of December 2018, the company had a cash balance of $81.3 million which include $66.7 million of cash from a capital raise and $14.6 million of cash from business as usual operations excluding the capital raise. The company has reaffirmed its guidance for FY 2019 to be cash flow break even excluding the capital raise.

In the past six months, the share price of Nearmap Ltd increased by 24.66% as on 15 January 2019. NEA’s shares traded at $1.950 (+7.143% intraday) with a market capitalization of circa $809.1 million as on 16 January 2019.

Wisetech Global Limited (ASX: WTC)

Information technology company, Wisetech Global Limited (ASX: WTC) reported revenue growth of 44 percent in FY 2018 as compared to FY 2017. The company reported a profit after tax attributable to equity holders of $40.8 million in FY 2018. During the financial year 2018, the company invested 34 percent of its revenue in product development.  In FY 2018, the company placed $100 million of share capital in a single transaction to US-based Capital Group’s SmallCap World Fund.

The company reported a $74.2 million of net cash flows for FY 2018, and as at 30 June 2018, the company had cash and cash equivalents of $122.8 million. With the company’s strategic execution and strong organic growth in FY 2018, the power of its global platform, the annual attrition rate of less than 1 percent and continued relentless investment in innovation and expansion across the company’s global business, Wisetech Global is well positioned for the future. In FY 2019, the company is expecting its revenue to be in between $320 Mn - $333 Mn which represents a growth rate of 44% - 50% on FY 2018.

Meanwhile, in the past six months, the share price of Wisetech Global Ltd uplifted by 8.10% as on 15 January 2019. WTC’s shares traded at $19.740 (+3.459) with a market capitalization of circa $5.74 billion as on 16 January 2019.


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