Why Nitro, PointsBet, Sezzle, and Siteminder shares are racing higher

These ASX shares are ending the week on a high…

| More on:

Image source: Getty Images

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

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a high. At the time of writing, the benchmark index is up 0.8% to 7,414.6 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are racing higher:

Nitro Software Ltd (ASX: NTO)

The Nitro share price has jumped 21% to $1.38. Investors have been buying this document productivity software company’s shares amid a rebound in the tech sector and the release of its quarterly update. The latter revealed that Nitro had a record quarter and is on course to deliver on its annual recurring revenue guidance in FY 2022.

PointsBet Holdings Ltd (ASX: PBH)

The PointsBet share price is up 10% to $2.97. This follows the release of the sports betting company’s quarterly update. PointsBet reported a 54% increase in turnover to $1,398 million. This was driven by a 37% increase in Australian turnover to $579.4 million and a 70% jump in US turnover to $818.6 million.

Sezzle Inc (ASX: SZL)

The Sezzle share price is up 8.5% to 88.5 cents. This morning the buy now pay later provider released its quarterly update and revealed active customer growth of 31.6% to 3.5 million. This supported a 20.1% year-on-year increase in underlying merchant sales, which hit US$450.5 million during the first quarter.

Siteminder Ltd (ASX: SDR)

The Siteminder share price has jumped 9% to $4.72. Investors have been buying this hotel booking technology company’s shares after it reported a big improvement in its performance during the third quarter. SiteMinder recorded its strongest ever March quarter, with third quarter revenues of $29 million. This was up 16.1% year on year in constant currency.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Pointsbet Holdings Ltd and SiteMinder Limited. The Motley Fool Australia has recommended Nitro Software Limited and Pointsbet Holdings Ltd. 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

Three businesspeople leap high with the CBD in the background.
Share Gainers

3 ASX All Ordinaries shares going gangbusters on Friday

Combined, these three All Ords stocks have gained an average of 21% today.

Read more »

Happy couple doing online shopping.
Retail Shares

Why is the Temple and Webster share price surging 11% higher today?

The ASX retail share has strengthened this week, but there's a long way to go.

Read more »

Green arrow with green stock prices symbolising a rising share price.
Share Gainers

Why Betmakers, Block, Lake Resources, and Vulcan shares are racing higher

These ASX shares are on form on Friday...

Read more »

Team celebrating corporate success screaming with joy.
Materials Shares

Wow! Novonix share price rebounds off a 52-week low to surge 11%

Novonix shares are on fire today, as are several battery and lithium shares.

Read more »

Four people gather around laptop and cheer
BNPL shares

The Zip share price is rocketing 14% today. What’s going on?

ASX BNPL shares are enjoying a welcome boost today.

Read more »

a man and a woman sitting in a technology related work environment high five each other while the man wears headphones around his heck and the woman sits in front of a laptop.
Technology Shares

Why ASX 200 tech shares are outperforming the market on Friday

Tech shares on fire today and leading the broader market. Here are the details.

Read more »

Two kids playing with wooden blocks, symbolising small cap shares and short selling.
Share Gainers

2 tiny ASX mining shares surging on new discoveries

It's been a good day to own these ASX-listed small cap miners.

Read more »

Green arrow going up on stock market chart, symbolising a rising share price.
Share Gainers

Why ANZ, Block, Bubs, and PayGroup shares are pushing higher

These ASX shares are on for m on Thursday...

Read more »