3 Tech Stocks That Are Plunging Heavily – WTC, APX and APT

  • Oct 11, 2018 AEDT
  • Team Kalkine
3 Tech Stocks That Are Plunging Heavily – WTC, APX and APT

Tech stocks in Australia are falling amid the technology stocks in the US went down sue to restrictions imposed on them and the rising bond yields.

Wisetech Global Limited (ASX: WTC) – The company has made $222 million in investment in innovation from FY14 to FY18. Also, posted a powerful revenue growth of 44% to reach $221.6 million. With a multi-year earn-out potential of up to $22.4 Mn, linked to business, product integration and revenue performance the purchase cost comprises $37.0 Mn upfront. RoE stood at 7.1% in 1HFY18 on the financial front, which is broadly in line against 1HFY17. Also, the share of Wisetech traded at very high PE level (132.010x) among its peer group with EPS at 0.139 AUD and the stock seems to be overvalued at current price. The stock of Wisetech Global Limited declined -10.463% to a market price of $16.430, the stock has witnessed a performance change of 91.15% over past 1 year. 

Appen Limited’s (ASX: APX) – The expected annual global revenue for artificial intelligence products and services will grow a 57-fold increase over that time period from $643.7 Mn in 2016 to $36.8 Bn by 2025. The current ratio stood at 5.97x in 1HFY18, which are the drivers for the sustainable growth, given the backdrop of ongoing developments and strong fundamentals that involve expansions and new innovations. The company has a price to earnings ratio (P/E) of 64.470 and earnings per share (EPS) of 0.195 AUD which is positive and represents profits for the company. The stock of Appen Limited declined -10.287% to a market price of $11.250, the stock has witnessed a performance change of 125.95% over past 1 year.

Afterpay Touch Group Limited’s (ASX: APT) - The recent acquisition of Think Smart’s ClearPay did seem to interest investors for too long. Also, after the successful capital raising of $117 million in support of its international expansion plan. The company earnings per share (EPS) of -0.040 AUD which is negative and represents restricted profits for the company. Revenue and other income were up by 390% to $142 million with EBITDA increasing 468% to $34 million the company represent strong financial performance in turn lowering Afterpay losses and leveraging data at scale.

The stock of Afterpay Touch Group declined -11.054% to a market price of $13.760, the stock has witnessed a performance change of 260.61% over past 1 year.

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