On the hunt for an S&P/ASX 200 Index (ASX: XJO) growth stock with the potential to keep on giving?
Then you may wish to run your slide rule over WiseTech Global Ltd (ASX: WTC).
The WiseTech share price has been on a tear since the company reported its half-year financial results in February.
Despite closing down 2.10% at $93.46 a share yesterday, shares in the ASX 200 growth stock remain up a blistering 29% over the past six months.
And according to the analysts at Wilson Asset Management (WAM), the company is well-placed to deliver further earnings and revenue growth.
Here's why.
ASX 200 growth stock cornering the logistics market
WiseTech is a founder-led, leading global software as a service (SaaS) provider to the logistics services industry.
The company has more than 18,000 customers in 165 countries. As WAM explains, WiseTech's core product is CargoWise One, a cloud-based logistics execution platform that enables freight forwarders to manage their businesses more efficiently.
Noting that the ASX 200 growth share is a WAM Leaders Limited (ASX: WLE) holding, WAM said:
WiseTech's investment thesis is predicated on a multifaceted growth outlook, supported by structural tailwinds from digitisation of the global logistics industry with growing cloud adoption, industry consolidation, and the network effect.
More than half of the world's 25 largest global freight forwarders are rolled out on CargoWise One.
WAM's analysts said they remain positive on the ASX 200 growth stock as the tech company "continues to extend its competitive advantage through expansion into new product verticals and continued reinvestment and innovation".
They added:
These factors have historically proven to be revenue and earnings growth accretive. The company is priced at a premium, which we see as justified given its position as one of few high-growth companies on the ASX, with a strong history of execution.
What's been happening with WiseTech shares?
As mentioned up top, investors have been bidding up WiseTech shares since the ASX 200 growth stock released its half year results on 21 February. The company expects to release its full year FY 2024 results on 21 August.
As for the most recent batch of financials, there was a lot to like in the first half.
Highlights included a 32% year on year increase in revenue for the half year of $500 million. And underlying net profit after tax (NPAT) came in at $128 million, up 5% from the prior corresponding period.
And while the dividends on offer are still relatively small, the ASX 200 growth stock did increase its fully franked interim dividend to 7.7 cents a share, up 17% from the previous interim dividend.
