Why Adriatic Metals, Catapult, Seek, and TechnologyOne shares are racing higher today

These shares are having a good time on hump day. But why?

| More on:
Person pointing at an increasing blue graph which represents a rising share price.

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

sdf

The S&P/ASX 200 Index (ASX: XJO) is having a positive session on Wednesday. At the time of writing, the benchmark index is up 0.8% to 8,408.8 points.

Four ASX shares that are rising more than most today are listed below. Here's why they are charging higher:

Adriatic Metals (ASX: ADT)

The Adriatic Metals share price is up 24% to $4.66. This has been driven by the news that the company is in discussions with Dundee Precious Metals regarding a possible takeover offer. Adriatic Metals advised that to facilitate the discussions, it has agreed to provide Dundee with access to limited due diligence information. However, it has warned that the discussions remain ongoing and there can be no certainty that any firm offer will be made.

Catapult Group International Ltd (ASX: CAT)

The Catapult share price is up over 10% to $4.75. Investors have been scrambling to buy the sports technology company's shares following the release of its full year results. Catapult posted a 19% increase in revenue in constant currency to US$116.5 million (A$185 million) and an 18% lift in annual contract value (ACV) to US$101.2 million (A$161 million). This underpinned management EBITDA of US$14.8 million (A$24 million) for the 12 months. This is up by US$10.6 million or approximately 250% year on year.

Seek Ltd (ASX: SEK)

The Seek share price is up almost 7% to $23.64. This follows the release of an investor update this morning from the job listings giant. Seek revealed that FY 2025 revenue and earnings are likely to be at the top end of their guidance ranges. It said: "FY25 revenue, EBITDA and Adjusted Profit are likely to be in the top half of guidance ranges. In ANZ, the recent upgrade of our ad tiers will support low double digit yield growth in FY25 vs pcp. The decline in job ad volumes has continued to stabilise in recent months and this trend is expected to continue."

TechnologyOne Ltd (ASX: TNE)

The TechnologyOne share price is up a further 4% to $38.24. Investors have been buying the enterprise software provider's shares this week following the release of its half year results. TechnologyOne posted a 21% jump in annualised recurring revenue (ARR) to $511.1 million for the six months, which meant that it achieved its $500 million ARR target 18 months early. On the bottom line, TechnologyOne recorded a 33% increase in profit before tax to $81.9 million. This led to management upgrading its earnings guidance for the full year.

Motley Fool contributor James Mickleboro has positions in Technology One. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Catapult Group International and Technology One. The Motley Fool Australia has positions in and has recommended Catapult Group International. The Motley Fool Australia has recommended Technology One. 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

The silhouettes of ten people holding hands with their arms raised against the sky, as the sun rises or sets in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors were nervous this Friday, ending the week on a sour note.

Read more »

A young man punches the air in delight as he reacts to great news on his mobile phone.
Share Gainers

Why EOS, Evolution Mining, Renascor, and Woodside shares are jumping today

These shares are ending the week on a high. 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

It was a volatile, but negative day for ASX investors this Thursday.

Read more »

Woman with an amazed expression has her hands and arms out with a laptop in front of her.
Share Gainers

Guess which ASX 200 stock turned $5,000 into $34,264 in just three years!

Investors have been piling into this ASX 200 stock for years, sending the share price soaring.

Read more »

Overjoyed man celebrating success with yes gesture after getting some good news on mobile.
Share Gainers

Why Beach Energy, Meeka Metals, Monash IVF, and Qantas shares are racing higher today

These shares are having a better day than most on Thursday. But why?

Read more »

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

2 ASX All Ords stocks that would already have more than doubled your money this year

These ASX All Ords stocks have gained 126% and 145% year to date. But how?

Read more »

Ten smiling business people wave to the camera after receiving some winning company news.
Share Gainers

Here are the top 10 ASX 200 shares today

It was an historic day for the ASX, with the market setting a new record.

Read more »

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

Why Fletcher Building, Johns Lyng, Pilbara Minerals, and Zip shares are charging higher

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

Read more »