SCT, VGL, RAK: 3 NZX tech stocks to watch out for this month

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SCT, VGL, RAK: 3 NZX tech stocks to watch out for this month

 SCT, VGL, RAK: 3 NZX tech stocks to watch out for this month
Image source: © Alexandersikov | Megapixl.com

Highlights:

  • Scott Technology grabs its largest-ever deal, paving its way for the North American expansion.
  • Vista Group International to publish its interim performance towards August-end.
  • Rakon to hold its Annual Meeting next month

As per the latest reports, over 30,000 small businesses have taken part in the digital training program funded by the Kiwi government. The training will help these businesses benefit from digital tools and new opportunities arising from e-commerce.

The said training will increase the digital capability among businesses, which would help increase their revenue as well as profitability.

The NZ government is making all efforts to make its small businesses more resilient and sustainable.

That said, let us look at the three NZX tech stocks that can be explored this month.

Source: © 2022 Kalkine Media®

Scott Technology Limited (NZX:SCT)

Delivering smart automation and robotic solutions, Scott Technology Limited has a market cap of NZ$236 million.

The Company has bagged a record deal worth US$35 million for delivering its first fully automated warehousing system for Alberta-based JBS Canada, which is one of the largest beef processing facilities across Canada.

The said deal is the largest ever for SCT and would play a significant role in its expansion into the North American market.

At the closing bell on 5 July, Scott Technology rose 0.68% to NZ$2.960.

Vista Group International Limited (NZX:VGL)

Vista Group International Limited offers software and technology solutions to the global film industry and has around NZ$396 million as its market cap.

On 29 August, VGL will unveil its six-month performance for the period ended 30 June 2022. Further, VGL has appointed Matthew Liebmann as its Chief Innovation and Data Officer, who earlier was Movio’s Chief Operating Officer, and Sarah Lewthwaite as the CEO of Movio.

At the closing bell on 5 July, Vista Group International climbed 2.41% to NZ$1.700.

Rakon Limited (NZX:RAK)

Rakon Limited is one of the leading manufacturers across the globe for frequency control products and timing solutions. Its market capital stands at more than NZ$281 million.

It organised its Annual Meeting of shareholders 2022 on 11 August. Detailed information regarding the venue and timings will be shared shortly.

Further, RAK had posted record earnings for FY22, with revenue rising 34%, and underlying EBITDA surging 132% over previous year, bolstered by sustained core market growth and new opportunities captured from worldwide chip shortages. The company boasts a strong development pipeline and has a very positive outlook for coming years.

At the closing bell on 5 July, Rakon was down 1.60% to NZ$1.230.

Bottom Line

Tech companies are a key pillar of an economy as they drive the economic development of a nation. They not only increase the efficiency of products and services but also help in enhancing operational efficiency, costs reduction, thus improving the overall profitability of the businesses.

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