Dye & Durham (TSX:DND) stock rises after Q4 result. Buy & hold forever?

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 Dye & Durham (TSX:DND) stock rises after Q4 result. Buy & hold forever?
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Highlights

  • Dye & Durham (TSX:DND) stock topped the Canadian market trend charts ahead of the trading session on Tuesday, August 24.
  • DND stock prices catapulted by about 107 per cent in the last twelve months.
  • The Vancouver-based technology company had released its fourth quarter and full-year fiscal 2021 earnings results at market close on Monday, August 23.

Dye & Durham Limited (TSX:DND) seems to have gained the attention of investors, having topped the Canadian market trend charts ahead of the trading session on Tuesday, August 24.

The Vancouver-based technology company had released its fourth quarter and full-year fiscal 2021 earnings results at market close on Monday, August 23. 

The latest financial results indicate that the software company could become a bellwether of success by the end of this year.

The cloud-based software and technology services provider caters to the needs of legal and business professionals in Canada, Ireland, Australia, and the United Kingdom.

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Dye & Durham (TSX:DND) latest financials

In 2021, Dye and Durham's revenues were C$ 208.9, reflecting an increase of 219 per cent year-over-year (YoY). The massive surge in revenues came majorly due to the closure of acquisitions and higher transaction volume.

Overcoming external challenges like the resurgence of coronavirus in April 2021, the software company posted a net income of C$ 6.3 million in Q4 2021 for the period ended June 30, 2021. In comparison to Q4 2020, this was an increase of C$ 10.1 million.

In Q4 2021, Dye and Durham's adjusted EBITDA was C$ 49.1 million, an increase of 459 per cent from Q4 2020. Meanwhile, the company also strengthened its balance sheet as its cash and cash equivalents expanded to C$ 429.3 million in 2021, up from C$ 2.6 million last year.

1-year chart of stock performance, RSI and moving average exponential of Dye & Durham (Source: Refinitiv)

Dye & Durham stock performance


If the company continues to grow and expand its net income, there is a chance that Dye & Durham stock prices could increase in the future.

DND stocks catapulted by about 107 per cent in the last twelve months and expanded by nine per cent in the past three months.

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Bottomline

At the start of the trading session on Tuesday, DND stock jumped by 3.5 per cent and was trading at C$ 48.23 per share at 10 AM EST.

Since the past week, DND stock has surged by two per cent. If this momentum continues, the stock could surpass its 52-week high of C$ 53.68 apiece on December 23, 2020.

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