NEA +16.6%: mapping technology company Nearmap announced it was on track to reach the top end of guidance after winning its largest government contract in North America. Previous guidance for Annual Contract Value (ACV) was between $150-160m with their new contract win pushing them over the low end of the range with around 3 months left in the period. As a result, the company has already grown ACV at least 17% on FY21 at $128.2m. They’ve managed to continue underlying growth despite being under pressure around patent infringements. It remains a risky play however the market has been very negative on the stock with shorts at 5.2% of the issued capital. This will at least see some short covering play out.
scroll
Performance update for March, stocks that drove returns & our current positioning
Close
Friday 26th April – ASX200 -101pts, Newmont (NEM), Resmed (RMD) & Super Retail (SUL)
Close
Market Matters Research Lead Shawn Hickman with David Koch
Close
MM is neutral/positive NEA in the short term
Add To Hit List
Relevant suggested news and content from the site
Video
WATCH
Performance update for March, stocks that drove returns & our current positioning
Recorded Tuesday 9th April
Podcast
LISTEN
Friday 26th April – ASX200 -101pts, Newmont (NEM), Resmed (RMD) & Super Retail (SUL)
Daily Podcast Direct from the Desk
Video
WATCH
Market Matters Research Lead Shawn Hickman with David Koch
Recorded Monday 25th March
Members only
UNLOCK MARKET MATTERS NOW
Take a free trial.
No payment details required.