Two Directors at WiseTech Global Limited bought 1,170 shares at between 124.800AUD and 131.140AUD. The significance rating of the trade was 71/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's director...
The independent financial analyst theScreener just lowered the general evaluation of WISETECH GLOBAL (AU), active in the Software industry. As regards its fundamental valuation, the title now shows 0 out of 4 stars while market behaviour can be considered defensive. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Neutral. As of the analysis date November 26, 2021, the closing price was AUD 51.63 and its target price...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Emerging Markets Breaking Out We see global equities (ACWI-US) going through a consolidation phase between support at $77 and resistance at $84. To reiterate, as long as ACWI-US is above $77 we are constructive and would be buyers. Our work suggests that $77 support is likely to hold based on current market dynamics, and we would flip to bullish on a breakout above $84. · Emerging Markets Breaking Out. One of the many dynamics that supports our constructive outlook is that emerging mar...
The ASX 200 fell by 0.4% and underperformed global markets after several strong months of outperformance and earnings downgrades. In net terms the market was upgraded, although this was mainly because there were less downgrades than normal and not because analysts were becoming more positive on the earnings outlook. IT (-3.9%), Financials (-2.8%), Consumer Staples (-2.2%) and Materials all underperformed. Australia remains expensive with the earnings bar now lowered to a level more achieva...
Buoyed by outperformance in the US, the MSCI ACWI is the only broad global index that has yet to make a lower low relative to the lows set in June. This deterioration for ACWI ex-US, EAFE, and EM, continued bearish-leaning indicators, and continued downside volatility in bond yields leads us to remain cautious and concerned that global equities remain vulnerable and could be poised for additional weakness moving forward. • Additional bearish-leaning developments. In addition to the concerns ...
Growth stocks have again out-performed Value since the start of the year supported by declining bond yields and solid EPS growth. In this note, we cast our eye over a selection of 55 Growth stocks constrained by a 12-month forward PE multiple of 18 and long-term consensus EPS growth of 7.5%. We then compare each stock using their cash conversion, asset turnover, reinvestment rate, net debt, EBITDA margin and Good Will. Within the group of stocks with a high PE and strong ea...
As foreshadowed in our note of March 19, 2019, we recommend shareholders in narrow-moat-rated WiseTech Global do not subscribe for new shares under the share purchase plan, or SPP. WiseTech's current market price of AUD 22.61 is significantly above our fair value estimate of AUD 7.40 per share, implying the shares are significantly overvalued. The SPP is open to shareholders who owned WiseTech Global shares as at 7:00pm on March 18, 2019. The market price and our earnings forecasts imply a fisca...
As foreshadowed in our note of March 19, 2019, we recommend shareholders in narrow-moat-rated WiseTech Global do not subscribe for new shares under the share purchase plan, or SPP. WiseTech's current market price of AUD 22.61 is significantly above our fair value estimate of AUD 7.40 per share, implying the shares are significantly overvalued. The SPP is open to shareholders who owned WiseTech Global shares as at 7:00pm on March 18, 2019. The market price and our earnings forecasts imply a fisca...
We have increased our fair value estimate for narrow-moat-rated WiseTech Global by 9% to AUD 7.40 per share following the AUD 300 million institutional equity capital raising at AUD 20.90 per share. The issue price was 10% below the market price but more than three times our previous fair value estimate. The increase in our fair value is caused by the issuance of shares at a price which was well in excess of our prior fair value. At the current market price of AUD 22.83, we continue to believe t...
We have increased our fair value estimate for narrow-moat-rated WiseTech Global by 9% to AUD 7.40 per share following the AUD 300 million institutional equity capital raising at AUD 20.90 per share. The issue price was 10% below the market price but more than three times our previous fair value estimate. The increase in our fair value is caused by the issuance of shares at a price which was well in excess of our prior fair value. At the current market price of AUD 22.83, we continue to believe t...
We have increased our fair value estimate for narrow-moat-rated WiseTech Global by 9% to AUD 7.40 per share following the AUD 300 million institutional equity capital raising at AUD 20.90 per share. The issue price was 10% below the market price but more than three times our previous fair value estimate. The increase in our fair value is caused by the issuance of shares at a price which was well in excess of our prior fair value. At the current market price of AUD 22.83, we continue to believe t...
We have incorporated narrow-moat-rated WiseTech Global’s AUD 92 million acquisition of Containerchain into our financial model. Although our short-term earnings forecasts are unchanged, we have increased our long-term forecasts and our fair value estimate by 3% to AUD 6.80 per share. However, at the current market price of AUD 18.22, we continue to believe the stock is significantly overvalued. The current market price implies a fiscal 2020 price/earnings ratio of 108 versus 38 at our fair val...
WiseTech Global has grown quickly in recent years, with revenue increasing at a CAGR of 34% between fiscal 2013 and 2018. We expect strong growth to continue and forecast a revenue CAGR of 17% over the next decade, underpinned by the global rollout of WiseTech’s cloud-based logistics software platform at large third-party logistics clients such as DHL. The narrow economic moat, which is based on switching costs, and strong annual client retention rate of around 99% should protect earnings from...
We have incorporated narrow-moat-rated WiseTech Global’s AUD 92 million acquisition of Containerchain into our financial model. Although our short-term earnings forecasts are unchanged, we have increased our long-term forecasts and our fair value estimate by 3% to AUD 6.80 per share. However, at the current market price of AUD 18.22, we continue to believe the stock is significantly overvalued. The current market price implies a fiscal 2020 price/earnings ratio of 108 versus 38 at our fair val...
Narrow-moat-rated WiseTech Global’s first-half result was very strong but weaker than we expected, and management’s earnings guidance implies weaker growth in the second half. Considering it’s already late February, we expect guidance will be reasonably accurate and we’ve cut our full-year earnings forecast accordingly. For example, we’ve cut our revenue forecast by 2% to AUD 350 million, although still slightly ahead of guidance of AUD 332 to 335 million, and our EBITDA forecast has f...
Narrow-moat-rated WiseTech Global’s first-half result was very strong but weaker than we expected, and management’s earnings guidance implies weaker growth in the second half. Considering it’s already late February, we expect guidance will be reasonably accurate and we’ve cut our full-year earnings forecast accordingly. For example, we’ve cut our revenue forecast by 2% to AUD 350 million, although still slightly ahead of guidance of AUD 332 to 335 million, and our EBITDA forecast has f...
Narrow-moat-rated WiseTech Global’s first-half result was very strong but weaker than we expected, and management’s earnings guidance implies weaker growth in the second half. Considering it’s already late February, we expect guidance will be reasonably accurate and we’ve cut our full-year earnings forecast accordingly. For example, we’ve cut our revenue forecast by 2% to AUD 350 million, although still slightly ahead of guidance of AUD 332 to 335 million, and our EBITDA forecast has f...
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