Top broker named this under-the-radar tech company a buy

Foster stockbroking has slapped a buy recommendation on New York City-based moving logistics company Updater Inc (ASX: UPD) with a price target range of $1.70 to $3.14.

Updater Inc develop technology to improve relocation processes, with the web-based Mover Product assisting US households to manage their moving-related logistics.

Updater was down 5.2% to $1.16 at the time of writing, off the back of the March 29 release of its 2017 annual report, highlighting the 287% increase in revenue to $US2.2 million reported in its preliminary results on February 28 and the acquisition of two leading software companies – IGC Software and Asset Controls Inc.

Foster named the ramp up of Updater’s Business Products, 2018 calendar revenue growth forecasts and contracts with new business partners as the reasons behind its buy recommendation, as Updater anticipates the launch of Paid Programs – a next generation relocation platform – to drive second-half revenue in CY18.

Foster has a 40% risk factor on the stock, but say the Business Products focus and Paid Programs launch are among the company’s “critical opportunities to de-risk the business”.

The Disruptors: 3 Revolutionary Aussie Companies to Back for 2018

We’re living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That’s why at The Motley Fool we’ve been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Cochlear or REA Group.

We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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 Scott Phillips.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…


The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!