Sectors: Technology
Enterprise software business TNE is up over 60% so far in 2024, with pullbacks few and far between. The market has pushed the stock higher than expected following its May half-year result, but as we regularly say, don’t fight the tape! The stocks rallied on the company’s ability to grow recurring revenue with the shift of existing customers onto subscription services.
Like all tech companies, XRO is looking to further monetise its ~4.2m subscribers with price hikes pushed through in Q3. Investors will be focusing next month on how sticky users are with these higher prices; we suspect very.
NXT has been on our radar through much of 2024, in line with our belief in the data centre/AI evolution, and we recently took a relatively small position following its capital raise. Similar to a few tech-facing stocks, we have been too pedantic with our entry this FY, hence the dip your toe in the water approach, hoping to buy into further weakness.
WTC –14.56%: Was slammed today after the company acknowledged recent media reports and announced it was looking into allegations of misconduct by founder and CEO Richard White.
Is MIN a good buy under $50 ?
Following our bullish outlook for the NASDAQ into Christmas, we have reconsidered our ASX tech exposure, specifically with Xero (XRO) set to report its 1H result next month.
Hi MM Team,
NXT has been on our Hitlist for a few weeks, and unfortunately, it has fallen short of our optimum entry levels. This has led us to reassess whether we should “scale in” to a position, almost hoping for lower levels, e.g., buy NXT around $17, looking to average below $16.
