Why the Catapult (ASX:CAT) share price is pushing higher today

The Catapult Group International Ltd (ASX:CAT) share price is pushing higher on Thursday after the release of a positive announcement…

| More on:

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

The Catapult Group International Ltd (ASX: CAT) share price has been a positive performer on Thursday following the release of an announcement.

In early trade the sports analytics and wearables company's shares are up 1.5% to $2.24.

What did Catapult announce?

This morning Catapult announced its second launch of new software solutions in as many weeks. Last week the company launched new solutions for NFL teams. You can read about those here.

Today, Catapult revealed that it is launching a dedicated athlete feedback and wellness management software solution, Catapult Form.

This solution provides coaches with an end-to-end view of an athlete's performance to ensure psychological and physical performance are always aligned.

Management notes that Catapult Form is the only dedicated wellness management solution for efficiently and intuitively capturing athlete feedback in elite team sport.

It feels this is particularly important and timely as today's COVID-19 environment is forcing many teams to track specific symptoms, possible contacts, and emotional state on a daily basis.

The solution will be accessible as a new feature-set within Catapult AMS, which has helped centralise technical, physical, medical, and wellness data in one platform.

Innovation.

Catapult's Senior Vice President of Product, Yana Bulva, revealed that she is pleased with the innovation being shown, particularly with a solution which embodies customer obsession during a difficult time.

Bulva commented: "The current COVID situation has driven sports teams across the globe to seek solutions for collecting better quality athlete data to protect health and safety."

 "We are excited to continue the evolution of our SaaS performance and health solutions for customers, offering teams the unique opportunity to combine our wearable data with subjective data collected via Catapult Form. This enables a custom plan for athletes that understands where they are physically and mentally, at any point in time," she added.

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 and recommends Catapult Group International Ltd. The Motley Fool Australia has recommended Catapult Group International Ltd. 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.

More on Share Gainers

Man drawing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why Latin Resources, Newmont, Nick Scali, and ResMed shares are surging today

These ASX shares are ending the week strongly. But why?

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

Let's also take a look at what the various ASX sectors were doing this Wednesday.

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Argosy Minerals, Immutep, Pointsbet, and Regis Resources shares are racing higher

These shares are having a strong session on Wednesday. But why?

Read more »

Businessman smiles with arms outstretched after receiving good news.
Share Gainers

Here are the top 10 ASX 200 shares today

It was another strong showing from the share market today.

Read more »

A young woman holding her phone smiles broadly and looks excited, after receiving good news.
Share Gainers

Healthco Healthcare, Medadvisor, Ramsay Health Care, and Tamboran shares are rising

These shares are having a strong session. But why?

Read more »

drug capsule opening up to reveal dollar signs signifying rising asx share price
Share Gainers

If you invested $6,000 in Mesoblast shares a month ago you'd have $15,636 now!

Mesoblast shares have been on a tear this past month. But why?

Read more »

Smiling man working on his laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

It was back to the races for ASX shares today, in a confident start to the week.

Read more »

rising gold share price represented by a green arrow on piles of gold block
Share Gainers

Here are the top 10 ASX 200 shares today

It was a horrible way to end the trading week today for ASX investors.

Read more »