The WiseTech Global Ltd (ASX: WTC) share price has been a strong performer on Tuesday.
In afternoon trade the logistics solutions company's shares are up 5% to $23.77.
This latest gain means that the WiseTech Global share price has now gained a remarkable 40% since the start of the year.
Why is the WiseTech Global share price racing higher today?
Investors have been fighting to get hold of the company's shares after fellow tech share Altium Limited (ASX: ALU) released an impressive half year result which smashed expectations.
In the first half of FY 2019 Altium achieved revenue of US$78 million and profit after tax of $23.4 million. This represented an increase of 26% and 58%, respectively, on the prior corresponding period.
Investors appear to believe that WiseTech Global could be next in line to impress when it releases its half year results on Wednesday.
What is the market expecting?
As WiseTech Global isn't the most widely covered share on the ASX it is difficult to tell what the market is expecting from it tomorrow.
However, for the full year the company has provided revenue guidance of between $320 million and $333 million and EBITDA guidance of $102 million to $107 million.
This represents year on year revenue growth in the range of 44% to 50% and annual EBITDA growth between 31% and 37%.
Judging by its share price performance since the start of the year, I suspect the market has priced in an upgrade to this guidance.
Is an upgrade coming?
Whilst I think there's a good chance that WiseTech Global will have had another stellar first half and could upgrade its guidance, I feel it would be quite risky buying shares this afternoon.
After all, if management merely retains its guidance, I think its shares could come under pressure. This is what happened with the CSL Limited (ASX: CSL) share price last week, though its shares had not rallied anywhere near as much as WiseTech Global's have. This certainly is food for thought.
