These 3 ASX shares just hit all-time highs: Can they climb higher?

The Afterpay Holdings Ltd (ASX:AFY) share price is one of three that just hit an all-time high. Can they still go higher from here?

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Despite the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) sinking to its lowest level since February, a number of shares defied the market yesterday and rose to all-time highs.

Can they keep climbing higher from here?

The Afterpay Holdings Ltd (ASX: AFY) share price reached an all-time high of $3.15 on Tuesday. Investors have been fighting to get hold of the company's shares after it revealed a new and improved funding facility with National Australia Bank Ltd. (ASX: NAB) and further uptake in its buy now, pay later service. According to the release annualised underlying sales are estimated to be greater than $1 billion. Whilst I think its shares are expensive now, if sales growth continues to accelerate I wouldn't be at all surprised to see its shares climb higher still.

The Treasury Wine Estates Ltd (ASX: TWE) share price hit an all-time high of $13.63 yesterday. The wine company's shares have risen a remarkable 24% year-to-date thanks largely to a stunning half-year result. First-half EBITS rose 58.8% to $226.8 million due to strong growth in the Asia and Americas markets and the company's focus on portfolio premiumisation. By shifting its product mix more to the premium end of the market, Treasury Wine saw its EBITS margin widen to 17.5% from 14% a year earlier. At 36x annualised earnings I think Treasury Wine's shares are about fair value now considering its current growth profile.

The WiseTech Global Ltd (ASX:WTC) share price climbed to an all-time high of $7.63 on Tuesday. The software-as-a-service company's shares have gone gangbusters in the last 12 months, rising a whopping 73%. The catalyst for this was an impressive 361% jump in half-year net profit to $14.4 million in February. While this rally means its shares are now changing hands on a sky-high earnings multiple, if demand for its logistics software remains strong then I feel it could easily justify the premium.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of National Australia Bank Limited and WiseTech Global. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »