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Highlights
- Zip Co shares have surged 311.3% in 2024.
- Netwealth is significantly up from its 52-week low, gaining 105.9%.
- Both companies showcase strong growth in their respective industries.
The share price of ASX growth stocks Zip Co Ltd has experienced remarkable growth, increasing by 311.3% since the start of 2024. Meanwhile, Netwealth Group Ltd has seen its share price rebound strongly, now 105.9% higher than its 52-week low.
Zip Co (ASX:ZIP)
Founded in 2013, Zip Co is a prominent financial technology company offering a buy-now-pay-later (BNPL) service. This service allows consumers to make purchases and spread payments over interest-free installments, appealing to a broad range of retail customers.
Zip has expanded its global presence, working with over 79,300 retail partners and serving 6 million customers worldwide. A key milestone for the company came in 2020 when it acquired the US-based BNPL company Quadpay, solidifying its position in the North American market.
Netwealth (ASX:NWL)
Established in 1999, Netwealth provides a comprehensive wealth management platform, used by financial planners to manage client portfolios. The platform has grown significantly and, as of 2024, serves over 140,000 account holders with more than $88 billion in funds under administration (FUA).
Netwealth’s strength lies in its easy-to-use interface, which allows users to manage investments, track performance, and access reports, all from a single dashboard. This level of accessibility and convenience has been a key factor in its ongoing success.
Valuation Insights for Zip Co
When considering Zip Co's share price performance, one method is to look at its price-to-sales (P/S) ratio over time. Currently, Zip's P/S ratio stands at 3.84x, below its five-year average of 5.81x. This could suggest that shares are trading at a discount relative to their historical levels, though rising sales have played a role in this shift as well. Over the last three years, Zip’s revenue has steadily grown, further supporting its upward momentum. However, it’s always important to consider a range of factors when assessing a company’s outlook, as no single metric tells the whole story.
Both Zip Co and Netwealth highlight strong growth in their industries, showcasing the evolving potential of fintech and wealth management platforms in today’s market.
