Are these 5 high-growth technology shares on NZX?

Highlights

  • Technology stocks have done well amid increased digital and cloud technology adoption.
  • Enprise Group provided a review of its operations and outlook ahead.
  • Gentrack expects strong revenues and improved EBITDA numbers in its annual meeting results.

When several companies are struggling to survive amid COVID-19 uncertainty, the IT sector has performed well and has grabbed investors’ attention due to accelerated digitisation trends.

Technology stocks have become popular due to increased digital technology adoption by almost every sector. Cloud computing, 5G, data analytics are offering many opportunities to various companies.

Amid this backdrop, let’s have a look at how these 5 NZX-listed tech stocks are performing.

NZX technology stocks and their market cap, YTD returns

Image source: © 2021 Kalkine Media New Zealand Ltd, Data source- Refinitiv

Enprise Group Limited (NZX:ENS)

Investment vehicle for high-growth tech companies, Enprise Group released its annual report for 30 June 2021 on 28 September, in which a review of operations and outlook was done.

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The review revealed that strong progress is evident in productivity and economies of scale and is shown in the profitability of the Enterprise Division. KKR-owned MYOB has also experienced major alterations in both company shape and product emphasis.

ENS plans to focus on productivity upgrades, cost controls, adapting to MYOB’s entry into the market with a direct channel and better utilisation of resources across the Enterprise division.

ENS ended the day 3% in red to close at $1.94. ENS shares provided a YTD return of 157.14% to date.

Geo Limited (NZX:GEO)

The software platform provider for tradies, Geo Limited, stated on Monday that it had raised $6 million from issuing ordinary shares at 13cps. The firm also plans to perform a successive capital raise in coming months to allow its wider shareholder base to take part at the same price.

The funds raised will be used for general working capital purposes as part of accelerating Geo’s growth strategy.

GEO ended the day 13.92% in green to close at $0.18. GEO shares provided a YTD return of 50% to date.

Vista Group International Limited (NZX:VGL)

Cinema management solutions designer, Vista Group recently reported a total revenue of $44.9 million and an EBITDA of $6.4 million in H1 of 2021 amid a wide industry recovery and a free flow of movies into global cinemas.

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The Group also launched Vista Cloud that would expand cinema prospects. VGL anticipates its revenue numbers in the range of $95 million and $100 million for the full year to 31 December 2021.

VGL ended the day 1.11% in red to close at $2.67. Vista shares provided a YTD return of 44.97% to date.

Serko Limited (NZX:SKO)

Corporate travel and expense solutions provider, Serko, reported that its overall revenue had fallen 37% to $16.9 million in FY21. Serko joined Booking.com, and the Zeno brand underwent validation in North America.

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The Group has been creating new processes as well as carbon management alternatives for all types of business travel.    

SKO ended the day 1.21% in red to close at $8.15. SKO shares delivered a YTD return of 41.11% to date.

Gentrack Group Limited (NZX:GTK, ASX:GTK)

Software solutions provider for utilities and airports, Gentrack, has witnessed a stronger-than-expected revenue in the second half of FY21 across the utilities segment.

RELATED READ: Gentrack (NZX:GTK) expects strong revenues and EBIDTA in upcoming results

The Company expects full-year revenue to be roughly $105 million and an EBITDA of $12 million due to higher throughput, incremental revenue and a slower-than-expected increase in R&D expenditure.

GTK ended the day 1.6% in red to close at $1.77. GTK shares delivered a YTD return of 28.57% to date.

Bottom Line

With technological innovations rising at a super-charged speed, tech stocks are expected to do well as companies are increasingly automating and fulfilling digital needs of companies and people.

(NOTE: Currency is reported in NZ Dollar unless stated otherwise)

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