Appen Limited Set to Surpass its 52-Week High

  • Jan 18, 2019 AEDT
  • Team Kalkine
Appen Limited Set to Surpass its 52-Week High
Technology player Appen Limited is surging high on Australian Securities Exchange. On Friday, the stock has been seen trading near to its 52 weeks high of $16.00 per share. It seems the traction in artificial intelligence and machine learning technology has led the investors to take the bullish charge. In an information technology sector, Appen Limited has made a significant remark globally which can be clearly observed in the on-market trade performance of its stock. It first started trading on ASX in the year 2015 at a price of $0.565 but now as of today, 18 January 2019, its stock price stands at $15.590. This translates as giant as 2728.57% improvement in APX’s daily price change since its inception.

If you are new to Appen, you must be wondering what the company is engaged in? Appen Limited (ASX: APX) is an Australia-based information technology company that develops high-quality, human annotated datasets for artificial intelligence and machine learning. It provides text-to-speech, sentiment analysis, data analytics, content moderation and other high-end data solutions through its varied range of product and services. These data solutions enable global companies in transforming their business with machine learning. Its services segment includes Annotation, Content Moderation, Linguistics, Transcriptions, and Personalization among others. With deep expertise in more than 180 languages and access to a global audience, Appen partners with leading automotive, eCommerce and technology companies as well as with worldwide Government. Recently, Appen Limited has upgraded its earnings guidance for the Fiscal Year ended 31 December 2018. This is in comparison to its previous guidance which estimated underlying EBITDA to be within the range of $54 million to $59 million. The company explained that the reason for improved FY2018 earning forecast is led by a sharp rise in monthly revenues on the back of significant performance of current projects and existing clients. However, the company still believes that its full-year earnings are uncertain due to fluctuation in the Australian dollar and other upside or downside factors. In today’s trading session, Appen’s stock price jumped up by 4.983% or $0.740 to last trade at $15.590 on 18 January 2019. The stock last traded at a PE of 76.350 x with a market capitalization of $1.58 billion. Over the past 12 months to date, the stock has gone up by 71.68% including a positive price change of 25.85% over the past three months.

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