The Wisetech Global Ltd (ASX: WTC) share price hit a 52-week high today despite the company releasing no news to the market. Since Wisetech released its annual report in August, its share price has climbed 40%.
WiseTech is an Australian online software company founded in 1994 that develops cloud-based end-to-end logistics software. It IPO'd only last year and Wisetech currently has over 7,000 customers in over 125 countries. Its single platform system CargoWise One offers a streamlined logistics process by limiting margins for error and increasing client visibility.
In FY 2017 Wisetech made a profit of $32 million on revenues of $142.2 million. WiseTech reported a revenue increase of 50% and astonishing profit increase of 1,386% from FY 2016. The basic earnings per share reported in 2017 were 10.9 cents with total dividends paid of 2.2 cents.
In August 2017 analysts from Citi had a share price target for WiseTech of $7.49.
According to the WiseTech's annual report, in FY 2018 the management expects to deliver revenue growth of 30%-37% and EBIDTA growth of 32%-39%.
