In late morning trade on Wednesday the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline. At the time of writing the benchmark index is down 1.2% to 6,086 points.
Four shares that have not let that hold them back are listed below. Here’s why they are storming higher:
The Bigtincan Holdings Ltd (ASX: BTH) share price is up 3.5% to 90.5 cents. Investors have been buying the AI-powered sales enablement automation platform provider’s shares after the release of its full year results. Bigtincan reported revenue growth of 56% to $31 million and annualised recurring revenue (ARR) growth of 53% year on year to $35.8 million. Pleasingly, management expects this strong form to continue in FY 2021. It has forecast ARR growth of 36.9% to 48% year on year.
The Cleanaway Waste Management Ltd (ASX: CWY) share price has jumped 8% to $2.42. This follows the release of the waste management company’s full year results. Cleanaway was a solid performer in FY 2020 despite the pandemic. It reported an 8% increase in underlying net profit after tax to $152.9 million. This positive form allowed the company to increase its full year dividend by 15.5% to 4.1 cents per share.
The Worley Ltd (ASX: WOR) share price is up 6.5% to $9.71 after delivering strong profit growth in FY 2020. The global engineering company reported a 66% increase in underlying NPATA to $432 million. Also growing strongly was its underlying operating cash flow. It came in at $881 million, up from $239 million a year earlier. This was driven largely by the first full year contribution of the recently acquired Jacobs ECR business.
The Zip Co Ltd (ASX: Z1P) share price has surged 18.5% higher to $8.97. This morning the payments company announced a deal with eBay Australia. That deal will see the newly launched Zip Business offer eBay’s 40,000 Australian small and medium-sized businesses the opportunity to access working capital via the eBay marketplace.
Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks now
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In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.
*Returns as of 6/8/2020
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia's parent company Motley Fool Holdings Inc. recommends BIGTINCAN FPO. The Motley Fool Australia owns shares of and has recommended BIGTINCAN FPO. 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.
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