5 NZX Technology Stocks That Are Shining Amid Gloom Of COVID-19 Pandemic

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5 NZX Technology Stocks That Are Shining Amid Gloom Of COVID-19 Pandemic

 5 NZX Technology Stocks That Are Shining Amid Gloom Of COVID-19 Pandemic
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Summary

  • Technology has greatly helped educate people regarding the spread of the ghastly COVID-19.
  • Both PaySauce and EROAD have recorded remarkable quarterly results.
  • Enprise Group and Geo have shown strong half-yearly results for the period ended December 2020.

For more than a year, the entire world has been battling with the life-threatening pandemic. While some countries have successfully controlled the spread of coronavirus, others are still battling the devastating impacts of it.

One such sector, which helped people across the globe in these testing times is technology. While technology did not restrain the onset of the pandemic, it has helped in managing the crisis efficiently and effectively.

With restrictions and lockdowns being imposed in most parts of the world, people were forced to sit at homes. The technology sector came up with the most advanced and innovative use of mobile, cloud, analytics, robotics, AI, 5G, and ultra-low latency high-speed data, etc.  

This has greatly helped people work from home and earn their livelihood. Moreover, physical stores transitioned towards digital platforms with the option of making online payments through various payment gateways, thereby increasing the sales and profitability of the companies even during the pandemic.

Source: Copyright © 2021 Kalkine Media Pty Ltd

With this overview, let us now look at the 5 NZX-listed tech stocks that are doing good even during the pandemic era.

PaySauce Limited

PaySauce Limited (NZX:PYS) published impressive results of Q4 FY21 with constant growth in its revenues and customer base, thus increasing its processing fee revenue by 42%.

The Company saw a growth of 100 more clients during the said period. Also, there was a 36% rise YOY in businesses processing through PaySauce, thus bringing the numbers to 3,377.

Moreover, the Company has launched a new product, BNZ PayNow, which is built to provide NZ customers with Earned Wage Access, and successfully handles payday lending issues.

Source: Copyright © 2021 Kalkine Media Pty Ltd

The total recurring revenue was $558K and the gross value of payroll processed was NZ$217 million in FY21 Q4 in contrast to FY20 Q4's, $429K and NZ$151 million, respectively.

At the time of writing on May 4, PaySauce was trading at NZ$0.285, up by 1.79%.

 

Do Not Miss Reading: How these 5 NZX stocks are moving today - GEO, FPH, PYS, MWE, AMP

Geo Limited

Geo Limited (NZX:GEO) recorded strong improvements in its cash flows in the half-year results ended 31 December 2020.

Due to effective cost management techniques, the Company’s EBITDA improved by 91.1% to NZ$0.1 million from NZ$1.2 million noted in pcp. Its statutory net loss was upgraded by 62.5% during the period.

Also, the operating and investing cash flows of the Company were enhanced by 76.1% during the six-month period. GEO boasted of NZ$2.3 million of cash in hand because of the Share Purchase Plan, which was completed during Q2.

At the time of writing on May 4, Geo was trading flat at NZ$0.138.

Must Read: How Are These 5 NZX Stocks Performing Today- BLT, SVR, ENS, TRU, GEO

EROAD Limited

EROAD Limited (NZX:ERD) in its quarterly update ended 31 March 2021, revealed constant and steady growth across its markets. This was reflected by the fact that the Company had sold 2,726 contracted units during the period.

After, the successful launch of ‘MY EROAD Clarity’ Dashcam in October 2020, ERD started marketing and selling the product in March 2021. It sold 1,054 ‘MYEROAD Clarity’ Dashcam units during the month.

The Company’s asset retention rate was more than 95% and it is confident of achieving the guidance for FY21 and FY22, which was earlier provided in November 2020.

At the time of writing on May 4, EROAD was trading low by 0.90% at NZ$5.520.

Also Read: Why These 7 NZX Stocks Are Making Heads Turn- KFL, GNE, ERD, MEL, RUA, CBD, SPY

Enprise Group Limited

Enprise Group Limited (NZX:ENS) declared strong interim financials for the half-year period ended 31 December 2020.

During the period, the Company reported a revenue of NZ$7.447 million as compared to the revenue of September 2019, which stood at NZ$3.718 million. Also, its net profit climbed to NZ$0.603 million and cash stood at NZ$2.493 million during the said duration.

Moreover, in December 2020, ENS acquired shares worth AU$0.547 million from the existing shareholders in iSell. This led to a rise in ENS’s shares of iSell to 67.6%.

At the time of writing on May 4, Enprise was trading high by 3.15% at NZ$1.310.

Must Read: Are These 4 NZX Stocks Gainers And Losers Of The Day- PHL, GEO, ENS, MEE?

Vital Limited

Vital Limited (NZX:VTL) announced a remarkable revenue growth of 5.7%, which stood at NZ$17.85 million for 1H 20. Also, its NPAT during the period was recorded at NZ$0.506 million.

The Company is focused on the completion of its significant capital investments. In November 2020, it had successfully launched its wholesale fibre products, which would help Vital to regain its market share in the coming 6-9 months.

Further, VTL witnessed a rise of 48% in its orders, amounting to NZ$8.576 million as compared to NZ$5.779 million on pcp.

The Board is confident of enhancing its profitability for its shareholders in the coming 12-month period.

At the time of writing on May 4, Vital was trading flat at NZ$0.800.

Also Read: 6 Hot Penny Stocks To Explore This Good Friday - AFC, VTL, SKT, RUA, ARB, BGI

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