The WiseTech Global Ltd (ASX: WTC)'s share price ended the week in the green, recovering from a 4.4% dip into the red after the market open today.
WiseTech shares bounced back to reach an intraday high of $32.06, before ending the day up 0.44% at $31.93.
Image source: Getty Images
What happened today?
There was no market-sensitive information specific to the company released today that would have a direct impact to WiseTech's share price.
Currently, WiseTech shares are trading off a 52-week high of $34.42, but are aloft their 52-week low of $18.91, which occurred back in August 2020.
The company's share price has gained 62% over the previous 12 months, above the S&P/ASX 200 Index (ASX:XJO)'s return of about 21% over this same time.
However, after a bumpy year to date, WiseTech shares are in the green by 3.8%, lagging the S&P/ASX 200 Index's return of nearly 11% since January 1.
Over the previous 5 trading sessions, WiseTech finished up by 2.6%, beating the broad index which had only a 0.3% gain over the same time.
Back in June, analysts at Morgan Stanley maintained their overweight rating on the WiseTech shares, assigning a price target of $35.00, which implies an upside potential of 9.6% from the current share price.
The investment bank believes recent secular tailwinds in WiseTech's end markets will help drive earnings growth into the coming years.
Macquarie Bank also has an outperform rating on the company's shares, with a price target of $34.00.
WiseTech Global share price snapshot
With a current share price of $31.93, WiseTech has a market capitalisation of $10.3 billion and trades at a price-to-earnings ratio (P/E) of 70.
The company also posted earnings per share of 45.2 cents at its last earnings release, and pays a dividend of 0.4 cents per share, fully-franked.
The current dividend yield is 0.13%, and the company has made good on each dividend payment since March 2017.
