- NZ investors can invest in ASX to get diversification and get access to broader and bigger market.
- There are plenty of technology companies that kiwi investors can pick to invest in.
- Xero, Dubber and Appen are 3 NZX-listed tech stocks than can be explore by Kiwis.
There has been a shift in investing habits with more kiwis opting to invest money in overseas shares through platforms like Sharesies, Hatch etc. NZ investors can invest in ASX to get diversification and get access to broader and bigger market.
ASX has been outperforming NZX for many years and New Zealanders can pick from multiple alternatives in ASX, particularly technology. There are plenty of technology companies that kiwi investors can pick to invest in.
Let’s have a look at 3 such ASX tech companies that can be explored by NZ investors.
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Xero Limited (ASX:XRO)
Wellington based leading cloud accounting company, Xero, has a market cap of $12.3 billion.
Xero registered a strong result in FY22 with a 29% growth in operating revenue, 19% growth in subscribers and a 21% increase in EBITDA YOY. The Group completed acquisitions of Tickstar, Planday, LOCATE Inventory and TaxCycle in the year.
Xero continues to invest in businesses to support their growth and support partnerships to deliver on its strategy. Xero plans to see a long-term improvement in its operating expense ratio and expects its total operating expenses as a percentage of operating revenue for FY23.
On 27 June, XRO ended the trading session at $83.13, up 1.19% from its previous close.
Dubber Corporation Limited (ASX:DUB)
Engaged in delivering cloud-based call recording and voice AI, Dubber Corporation has a market cap of $201.2 million.
DUB witnessed a 40% rise in its revenues and a 39% rise in subscribers to $9.25 million and 540k in the March quarter. The Company reported an ARR of $34 million on 29 April 2021 and grew its standard’ SaaS subscriptions grew organically by over 30K for the quarter.
The Company continues to scale its core infrastructure to fast-track future growth and reduce cash outflows. Dubber remains well-placed and funded, putting it in a leading position to establish itself.
On 27 June, DUB ended the trading session at 66.5c, up 0.76% from its previous close.
Appen Limited (ASX:APX)
Global leader in data for the AI lifecycle Appen has a market cap of $767.8 million.
It has 25 years of experience in delivering high quality training data and has built industry leading data capabilities into its platform. It is strongly positioned as it offers unique combination of leading annotation tech and global crowd.
Appen’s market-specific platform is key to its China growth and its ASR automation provides more than 3 times crowd productivity.
Appen plans to double its FY21 revenue of US$447 million in FY26. Its product strategy is key to providing long term vision.
On 27 June, APX ended the trading session at $6.37, up 2.41% from its previous close.
More Kiwis are opting for investing in ASX due to ease of access to Australian market and a decline in brokerage costs. Technology sectors is poised for growth as economies recover and growth picks up.
(NOTE: Currency is reported in AU Dollar unless stated otherwise)