Three Potential technology stocks amid growing NZ cyber attacks

Highlights

• Cybersecurity continues to be the key priority for most small and medium businesses.
• Geo Limited opened a $1-million shareholder placement offer on 29 October.
• Enprise Group opened the period for nominations of directors on 15 October.
  

Cybersecurity issues have become a growing concern in New Zealand.

A new survey conducted by Hp New Zealand’s IT Security revealed that 41% of small and medium businesses (SMBs) saw the evidence of a security violation in their workplace in the past 12 months. This comes in spite of a near-3-time investment in IT security in the past 3 years.

Let’s skim through the performance of these 3 NZX-listed technology stocks.

Image source: © 2021 Kalkine Media, Data source- EODHD/Others

Geo Limited (NZX:GEO)

Software platform provider for tradies, Geo announced a $1-million placement offer to enable its shareholders to take part in its growth after the tech company announced its plans to raise up to $6 million. The issue price for the shares will be $0.13 per share and the shareholders will be able to apply for $20,000 worth of new shares with an overall cap of $1 million.

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The funds will be used for general working capital purposes as the Company continues to fast-track its growth strategy.

GEO ended the day 2.08% in red to close at $0.188.

Enprise Group Limited (NZX:ENS)

Investment vehicle for high-growth tech companies, Enprise Group, notified the market on 15 October that it had opened the period for the nomination of directors with immediate effect.

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The Group undertook a review of operations. ENS’s enterprise division plans to focus on MYOB’s entry into the market with a direct channel, productivity improvements, cost controls in the next year.

The Group’s iSell has plans to increase customers across key markets by developing cloud products and adding new e-Commerce and Document Builder products.

ENS ended the day 1.04% in red to close at $1.9.

Vista Group International Limited (NZX:VGL)

Cinema management solutions designer, Vista Group, announced a management change on 15 October. CEO and Co-founder of Movio, Will Palmer has the intention to step down from his position by the end of this year.

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Kimbal Riley, Vista Group CEO, stated that Will had made a huge contribution to Vista Group’s progress for 11 years. The strength of the Movio leadership team is a sign of Will’s emphasis on developing people’s skillsets and is led by Movio COO and CCO.

VGL ended the day 0.78% in red to close at $2.53.

Bottom Line

Demand for technology and technological innovations are rising at a breakneck speed and may rise even further in the coming year due to its increased adoption.

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