ASX All Ords stock Catapult Group International Ltd (ASX: CAT) is at it again today.
By 'it', I mean racing ahead of the broader market performance.
In morning trade on Wednesday, shares in the global sports data and analytics company are up 3.7%, trading for $3.51 apiece. That's well ahead of the 0.5% gains posted by the All Ordinaries Index (ASX: XAO) at this same time.
As you can see on the chart below, the Catapult share price is now up an eye-watering 176% over the past 12 months. That's seen its market cap climb to $950 million.
And Red Leaf Securities' John Athanasiou believes the ASX All Ords stock has a lot more potential ahead (courtesy of The Bull).
ASX All Ords stock on the growth path
Discussing the company's H1 FY 2025 results, Athanasiou, who has a buy rating on Catapult shares, said:
This sports technology solutions company impressed the market by growing annualised contract value to $143 million in the first half of fiscal year 2025. It represented an increase of 20% on the prior corresponding period on a constant currency basis.
Revenue of $85 million was up 19%. The company posted free cash flow of $7 million and reduced debt.
And Athanasiou expects the ASX All Ords stock can keep growing these core metrics, which should support further share price appreciation.
"Given strong revenue momentum, CAT is well positioned to continue its upward trajectory, in our view," he said.
Transition to 'widely held growth stock' underway
Red Leaf Securities isn't the only investment firm bullish on Catapult stock.
The ASX All Ords stock counts as the largest investment in the Forager Australian Shares Fund.
Forager's fund managers noted, "Its half-year results justified our optimism."
They added, "The transition from illiquid small cap to widely held growth stock is well and truly underway".
Commenting on the half-year results, the fund managers said:
It was a result difficult to fault, and there is no obvious impediment to Catapult's momentum. Its customers, professional sports teams, are growing in number and size. Catapult continues to take share from its rivals.
The best part of the recent result was the accelerating growth in its newer video segment, where Catapult faces more robust competition… It is now generating positive free cashflow and has the capacity to invest heavily in product development alongside its margin expansion. We anticipate it growing at about 20% per annum for some time to come.
Another potential upcoming tailwind for the ASX All Ords stock is its likely pending inclusion in the S&P/ASX 300 Index (ASX: XKO) following the big increase in its market cap.
"Catapult should qualify for inclusion in the ASX 300 index next time changes are announced, bringing passive index buying to the market," Forager said.
