On Friday, several ASX tech stocks ripped to new highs after the Nasdaq Composite Index (NASDAQ: .IXIC) hit a record the previous night.

Meanwhile, the S&P/ASX 200 Index (ASX: XJO) fell 1.03% over the week to close at 8,773.5 points on Friday.

The energy sector was the biggest drag last week, falling 4%, after the foreign takeover bid for Santos Ltd (ASX: STO) was withdrawn.

Just three of the 11 market sectors finished the week in the green.

Let's recap.

ASX 200 technology shares led the market last week

Tech sector darling Life360 Inc (ASX: 360) was among 9 ASX 200 shares that reached multi-year high share prices on Friday.

The Life360 share price rose 5.3% over the week to close at $51.96, after reaching a record $52.40 during intraday trade on Friday.

Nextdc Ltd (ASX: NXT) shares set a new 52-week high of $18.22 on Friday, and rose 2.8% over the week to finish at $17.81.

The Siteminder Ltd (ASX: SDR) share price reached a four-year high of $7.20 on Friday before closing at $7.14, up 3% over the week.

The Betashares S&P/ASX Australian Technology ETF (ASX: ATEC) also reached a new record of $33.42 per unit on Friday.

ATEC, which seeks to track the S&P/ASX All Technology Index before fees, was among 68 ASX ETFs that smashed records on Friday.

Several ASX small-cap tech shares also hit new highs on Friday.

The Hansen Technologies Ltd (ASX: HSN) share price closed at a four-year high of $6.22 on Friday, up 7.4% for the week.

Energy One Ltd (ASX: EOL) shares reached an all-time high of $18 on Friday before closing at $17.95, up 11.8% over the week.

Infomedia Ltd (ASX: IFM) shares closed at a 52-week high of $1.72, up 2.4% over the week.

Eroad Ltd (ASX: ERD) shares reached a three-year high of $2.63 on Friday before finishing the session at $2.55, up 8.1% last week.

Other tech sector price changes

Turning our attention to large-cap ASX 200 tech shares, WiseTech Global Ltd (ASX: WTC) lifted 1.4% over the week to close at $96.30.

The Xero Ltd (ASX: XRO) share price inched up 0.3% to $162.59.

TechnologyOne Ltd (ASX: TNE) shares rose 0.8% to $38.35.

Codan Ltd (ASX: CDA) shares fell 3.1% to $29.98.

The Megaport Ltd (ASX: MP1) share price lifted 0.8% to $15.01.

The Catapult Sports Ltd (ASX: CAT) share price increased 4.4% to close at $7.09.

The Iress Ltd (ASX: IRE) share price rose 2.4% to $9.34.

Macquarie Technology Group Ltd (ASX: MAQ) shares rose 5.5% to $65.07 ahead of their departure from the ASX 200.

Macquarie Tech is among 9 shares leaving the ASX 200 in the next index rebalance, effective tomorrow.

ASX 200 market sector snapshot

Here's how the 11 market sectors stacked up last week, according to CommSec data.

Over the five trading days:

The post Life360, NextDC, and Siteminder shares reach new highs amid tech sector lead last week appeared first on The Motley Fool Australia.

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

Infomedia Ltd (ASX: IFM)

The Infomedia share price is up 27% to $1.68. Investors have been fighting to get hold of this auto industry software company's shares today after it received and accepted a takeover offer from TPG Capital Asia. The private equity firm has tabled an offer of $1.72 per share, which is a 30% premium to its last close price. Infomedia's chair, Jim Hassell, said: "The Board considers that the proposal appropriately reflects the strength of Infomedia's platform, the execution of its strategy to date, and the growth opportunities it has created. While we remain confident in the long-term outlook for the business, the Scheme enables shareholders to realise full and fair value now, without the risks and uncertainties associated with continued execution as a standalone listed company."

News Corp (ASX: NWS)

The News Corp share price is up almost 7% to $56.19. This has been driven by the release of the media giant's full year results for FY 2025. News Corp reported a 2% lift in total revenue to US$8.45 billion and a 14% jump in total segment EBITDA to US$1.42 billion. This was driven by strong performances in Digital Real Estate Services, Dow Jones, and Book Publishing, which were partially offset by weaker contributions from the News Media segment.

REA Group Ltd (ASX: REA)

The REA Group shares price is up 6% to $253.12. Investors have been buying this property listings company's shares following the release of a strong full year result. REA Group posted a 15% increase in revenue to $1.673 billion and a 23% jump in net profit after tax to $564 million. Commenting on its outlook, CEO Owen Wilson said: "Australian property fundamentals remain strong, and expectations of further interest rate cuts are supporting buyer demand and steady house price growth. These are favourable conditions for sellers to bring their properties to market. Our increasing investment in talent, technology, and improved consumer experiences, positions REA Group for continued growth in FY26."

West African Resources Ltd (ASX: WAF)

The West African Resources share price is up 7% to $2.64. This follows the release of a production forecast update from the gold miner. Management advised that its production is set to peak at 569,000 ounces per annum in 2029. West African Resources' CEO, Richard Hyde, commented: "WAF's updated 10-year production outlook will see 4.8 million ounces of gold produced over the next decade, with production set to peak in 2029 at 569,000 ounces of gold. Our unhedged resources now stand at 12.2 million ounces of gold and Ore Reserves at 6.5 million ounces of gold."

The post Why Infomedia, News Corp, REA Group, and West African shares are storming higher appeared first on The Motley Fool Australia.

Before today, the ASX 200 had never crossed the 8,800-point threshold, so the index is once again at a new record high this session.

But TPG shares are missing out. Well, sort of. The telco did begin trading this morning, initially plunging a nasty 4.27% before the shares were placed in a trading halt.

Unfortunately, this was the result of a major snafu by the ASX itself.

First, the ASX announced, at 9:47 am, that TPG shares were accidentally placed into a "60 minute timer" at 9:20 am this morning. The ASX advised that "this was an internal error, please disregard".

Following this, another announcement, supposedly regarding TPG, was released by the ASX.

An ASX case of mistaken identity

This involved vehicle software company Infomedia Ltd (ASX: IFM). As we covered this morning, Infomedia has just announced that it has entered into a scheme, which will result in a subsidiary of TPG Capital Asia acquiring the company in full. If Infomedia investors agree to the terms, they will receive $1.72 per share in cash, valuing the company at a 30% premium to its recent pricing.

That's all well and good. However, the ASX mistakenly associated this news with TPG Telecom shares, which are unrelated to TPG Capital Asia. In fact, TPG Capital Asia is not even listed on the ASX, nor on any other stock market.

As such, the trading halt for TPG Telecom shares never should have taken place. Nor, investors might argue, that brief but sharp share price drop this morning.

In a subsequent release, the ASX stated the following to explain its error:

The announcement made by Infomedia Ltd (IFM) this morning about entering into a scheme implementation agreement with McQueen BidCo Pty Ltd an entity ultimately owned by funds managed or advised by TPG Capital Asia (who is not listed on ASX) was erroneously cross-released by ASX against TPG Telecom Limited ('TPG').

That announcement is unrelated to TPG Telecom Limited and is in the process of being deleted by ASX. Trades that have occurred in TPG today prior to the Pause in Trading at 10:15:18 am will be cancelled. TPG will remain in a Pause while the cancellation is processed. A further announcement will be released advising of the time that the trading Pause will be lifted.

Oh dear.

As of the time of writing, TPG shares remain in a trading halt while the ASX presumably does its best to correct this error. But it is an embarrassing moment for the stock market operator, no doubt about it.

TPG share price snapshot

Despite today's hefty drop, TPG shares have been performing remarkably well in recent times. At the current halted share price of $5.26, the telco is up an encouraging 16.23% year to date, as well as up 17.26% over the past 12 months.

At the current price, TPG shares are trading on a trailing dividend yield of 3.42%.

The post Why did TPG Telecom shares just enter a trading halt? appeared first on The Motley Fool Australia.

But one ASX 300 stock is rising more than most with a stunning gain in early trade.

Which ASX 300 stock?

The stock that is getting a lot of attention today is Infomedia Ltd (ASX: IFM).

At the time of writing, this auto industry software company's shares are up 28% to $1.69.

The catalyst for this has been news that the ASX 300 stock has entered into a scheme implementation agreement with McQueen BidCo, which is an entity ultimately owned by funds managed or advised by TPG Capital Asia.

The scheme implementation agreement will see TPG Capital Asia acquire all the issued capital of Infomedia by way of a board recommended scheme of arrangement.

According to the release, if the scheme is implemented, Infomedia shareholders will receive a total cash consideration of $1.72 per share, less any permitted dividends declared and paid on or before the date of implementation.

Based on its last close price of $1.32, this represents a 30% premium and an implied equity value of $651 million and an enterprise value of $579 million.

The release also highlights that the ASX 300 stock will be permitted to pay a fully franked ordinary dividend of up to 2 cents per share for FY 2025 and a further special dividend of up to 2.9 cents per share if the scheme proceeds.

The company estimates that this would enable eligible Infomedia shareholders to receive approximately 2.1 cents per share in additional benefit from franking credits, depending on their individual tax circumstances. These franking credits boost the implied total consideration to approximately $1.74 per share.

Offer accepted

The ASX 300 stock's board unanimously recommends that shareholders vote in favour of the scheme. This is in the absence of a superior proposal and subject to the independent expert's report.

Commenting on the news, Infomedia's chair, Jim Hassell, said:

The Board unanimously recommends this transaction to Infomedia shareholders. The all-cash offer represents a compelling premium of 41% to Infomedia's 3-month VWAP and delivers certainty of value in an increasingly uncertain environment.

The Board considers that the proposal appropriately reflects the strength of Infomedia's platform, the execution of its strategy to date, and the growth opportunities it has created. While we remain confident in the long-term outlook for the business, the Scheme enables shareholders to realise full and fair value now, without the risks and uncertainties associated with continued execution as a standalone listed company.

The post Guess which ASX 300 stock is rocketing 28% on takeover news appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Champion Iron Ltd (ASX: CIA)

The Champion Iron share price is down 9% to $5.70. This morning, this iron ore miner's shares went ex-dividend for its latest payout. Champion Iron will be paying eligible shareholders an 11 cents per share dividend later this month on 28 November. In addition, broad weakness in the mining sector appears to be weighing heavily on its shares on Monday.

Endeavour Group Ltd (ASX: EDV)

The Endeavour Group share price is down 4.5% to $4.51. This follows the release of a disappointing trading update from the drinks giant. The BWS and Dan Murphy's owner reported a modest 0.5% increase in group sales to $3,105 million for the three months. Endeavour Group's CEO, Steve Donohue, said: "Endeavour Group delivered a stable trading performance in the first quarter as cost of living pressures continued to impact consumer spending in our categories. This result demonstrates the value of our diversified portfolio, with the moderation in Retail sales during the quarter offset by a stronger performance in Hotels. Retail sales were in-line with the first quarter of the prior year and Hotels recorded 2.5% sales growth."

Infomedia Limited (ASX: IFM)

The Infomedia share price is down over 7% to $1.35. This has been driven by a guidance downgrade from the automotive industry software company. The company now expects revenue in the range of $142 million to $149 million. This compares to its previous guidance of $144 million to $154 million. While the company still expects a stronger second half FY 2025 performance, changing macro-economic conditions have contributed to a more conservative view around the ability to mitigate the impact of a major customer churn event that occurred in October.

Resolute Mining Ltd (ASX: RSG)

The Resolute Mining share price is down 30% to 46.7 cents. Investors have been selling this gold miner's shares after it advised that its CEO and two other executives were "unexpectedly detained" in Mali following a meeting with the government. The company said: "The executives were in Bamako to hold discussions with the mining and tax authorities regarding general activities related to Resolute's in-country business practices, and to progress open claims made against Resolute, which the Company maintains are unsubstantiated. Following the conclusion of these meetings on Friday, 8 November 2024, the three employees were unexpectedly detained." In Mali, it operates the large-scale Syama Gold Operation.

The post Why Champion Iron, Endeavour, Infomedia, and Resolute Mining shares are sinking today appeared first on The Motley Fool Australia.

If the brokers are correct, these stocks could gain 19%, 36%, and a whopping 266% over the next 12 months.

Which promising ASX All Ords companies are we talking about?

Read on!

(Broker price data, courtesy of The Australian.)

These ASX All Ords shares could be set to surge into 2025

The first ASX All Ords share tipped to outperform is IPH Ltd (ASX: IPH).

Shares in the intellectual property (IP) services company are up 1.0% in morning trade on Wednesday, trading for $5.39 apiece. This sees the IPH share price down 15% in 2024. IPH stock also trades on a partly franked trailing dividend yield of 6.5%.

Barrenjoey believes this company could run a lot higher from here. The broker started IPH at an overweight rating with a $6.40 price target. That represents a potential upside of almost 19% from current levels.

At the company's FY 2024 results, the ASX All Ords share reported a 14% year on year increase in underlying net profit after tax (NPAT) of $112.4 million. Underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) were up 15% from FY 2023 to $195.5 million.

Moving on to the second ASX All Ords share earning a really big broker upgrade, we have Novonix Ltd (ASX: NVX).

Shares in the battery materials and technology company are up 4.1% today, changing hands for 71 cents apiece. That leaves the Novonix share price down 4% in 2024.

Jeffries believes that's seriously underpriced. The broker started Novonix at a buy rating with a $2.60 price target, according to The Australian. That represents a whopping potential upside of 266% from current levels.

Novonix reported its quarterly results on 30 October. Highlights included US$9 million of grants received from the US Department of Energy (DOE) to support its manufacturing projects, along with $2.5 million in cash receipts from customers during the quarter. The company ended the quarter with cash holdings of US$37.4 million.

Which brings us to the third ASX All Ords share earning a broker upgrade, Infomedia Ltd (ASX: IFM).

Shares in the software-as-a-service (SaaS) provider are up 1.6% at the time of writing on Wednesday, trading for $1.38 apiece. That leaves the Infomedia share price down 4% in 2024. Infomedia stock also trades on a fully franked trailing dividend yield of 3.0%.

And Moelis envisions a big year ahead for the company. The broker started Infomedia at a buy rating with a $1.88 price target. That represents a potential upside of 36% from current levels.

For its FY 2024 results, Infomedia reported $140.8 million in total revenue, up 8% year on year. NPAT was up 32% from FY 2023 to $12.7 million.

The post 3 ASX All Ords shares just got BIG upgrades from top brokers appeared first on The Motley Fool Australia.

Infomedia shares are charging 2.5% higher at $1.81 at the time of writing after the ASX small-cap company reported robust FY24 results today.

Let's find out what the automotive industry software platform provider reported.

Balanced and profitable growth

Key highlights from the Infomedia's FY24 results include:

• Total revenue increased by 8% from a year ago to $140.8 million.
• Annual Recurring Revenue (ARR) at the end of June 2024 was $144.1 million, up 9% from a year ago.
• Underlying cash EBITDA (earnings before interests, taxes, depreciation, and amortisation) surged 17% to $33 million.
• Reported net profit after tax (NPAT) increased by 32% to $12.7 million.
• NPAT adjusted for non-cash amortisation costs rose 26% to $20.9 million.
• The company declared a final dividend of 2 cents per share for a total FY24 dividend of 4.2 cents per share.

Underlying free cash flow decreased by 6% to $27.2 million, largely due to income tax payment changes.

What else happened in FY24?

Infomedia's revenue increased 8% to $140.8 million, with 99% of this being recurring revenue. ARR also grew strongly at approximately 8%, reflecting resilient demand across its global product offerings.

The company also highlighted the balanced growth by region and product categories. For example, Infomedia continued to expand the number of Chinese OEM brand partners while signing the first light-commercial vehicle contracts with Isuzu and Hino. In addition, Infomedia made significant progress in mature products like Superservice and Microcat during FY24.

Operationally, Infomedia continues to expand its global footprint in the Americas, Asia-Pacific, and European regions, securing new contracts and increasing penetration in key markets.

Commenting on the FY24 results, Infomedia CEO Jens Monsees said:

In the last 2 years, we have achieved our objective to create strong profitable growth and a globally diversified business.

This is shown by our 17% increase in Cash EBITDA. Infomedia is a growing and profitable technology company with significant market opportunities in all regions and all products.

FY25 outlook

Management guides for FY25 revenue in the range of $144 million to $154 million. The company believes its profitability will remain stable, barring any unexpected swing in the global economy.

Despite some anticipated customer churn in FY25, Infomedia expects revenue growth from recent contract renewals and further investment in its product portfolio, particularly in Infodrive, which has shown double-digit growth.

Valuation comments

The Infomedia share price is up more than 2% to $1.81 today.

At this share price, Infomedia shares are valued at 25x FY25 profit estimate by S&P Capital IQ.

The company offers a fully-franked dividend yield of 2.3%.

The post Up 25% this year, can this ASX small-cap share keep rising after FY24 results? appeared first on The Motley Fool Australia.

Two received upgrades, while one was downgraded.

(Broker data courtesy of The Australian.)

Two ASX All Ords shares getting broker upgrades

The first ASX All Ords shares earning a broker upgrade today is Infomedia Ltd (ASX: IFM), a software-as-a-service (SaaS) provider for the auto parts and servicing industry.

The Infomedia share price has been on a downward trend since 10 April but remains up 9.0% in 2024.

Shares are down 1.75% today, trading for $1.57 apiece. At that price, Infomedia shares trade on a fully franked trailing dividend yield of 2.6%.

Bell Potter sees significant upside potential for the company. The broker raised Infomedia shares to a buy rating with a $1.90 price target. That's 21% above current levels.

The second ASX All Ords share getting a broker upgrade is Cooper Energy Ltd (ASX: COE).

Shares in the oil and gas stock are getting hammered today, down 8.2%, trading for 20 cents apiece.

This follows a 4.4% fall yesterday when Cooper Energy released an investor briefing.

On the positive front, the company reaffirmed its FY 2024 guidance. Management is forecasting production of 60.5 TJe/d to 64.0 TJe/d, with production expenses to fall between $57 million and $63 million. Capital expenditure is expected to be $240 million to $280 million.

Canaccord appears to believe the big two-day sell-off is unwarranted. The broker raised Cooper Energy to a buy rating with a 28-cent price target. That represents a potential 40% upside from current levels.

Despite the recent retrace, the ASX All Ords share remains up 57.7% in 2024.

And one stock downgraded

Which brings us to the ASX All Ords share getting a broker downgrade, Whitehaven Coal Ltd (ASX: WHC).

Shares in the ASX coal stock are taking a beating today, down 2.9% to $8.01 apiece.

Longer-term, the Whitehaven share price is up an impressive 37.8% over 12 months. The coal miner also pays some juicy dividends. At the current price, this ASX All Ords share trades on a fully franked dividend yield of 6.1%.

While CSLA cut Whitehaven to an accumulate rating, the broker's $9.70 price target represents a 21% potential upside from current levels.

As always, if you're unsure of how or where to invest your money, seek expert advice.

The post 3 ASX All Ords shares just rerated by top brokers appeared first on The Motley Fool Australia.

As reported in The Australian, here are 3 ASX All Ords shares that have just been re-rated by the pro traders.

Siteminder Ltd (ASX: SDR)

Siteminder is an ASX All Ords technology share, and it's having a ripper week. The Siteminder share price is up 8.4% since last Friday's close after the company revealed a 31% revenue bump in the September quarter. SiteMinder provides software for the hotel industry. Morgan Stanley has given the stock an overweight rating with a 12-month share price target of $4.75. At the time of writing, the SiteMinder share price is up 3.4% to $4.26. So, the price target implies a potential lift of 11.5% over the next year.

Infomedia Limited (ASX: IFM)

Infomedia is a software-as-a-service (SaaS) provider to the car parts and servicing industry. Bell Potter thinks this ASX All Ords tech stock has great potential for growth from here. The Infomedia share price is currently $1.48, up 1.7% for the day. The broker has slapped a buy rating on the stock with a share price target of $1.75. So, we're talking 18% potential upside over the next 12 months.

MMA Offshore Ltd (ASX: MRM)

MMA Offshore provides marine-related services. For example, it has a fleet of specialised offshore support vessels that provide services to oil and gas rigs, including subsea repairs of the rigs themselves. The stock is up an impressive 32% in the year to date amid the ASX All Ords losing 0.5%. The MMA share price is currently $1.25, up 2.6% on Thursday. PAC Partners has just commenced coverage with a buy rating and a price target of $1.65. So, the broker reckons the stock can rise another 30% within the year.

The post 3 ASX All Ords shares receiving broker upgrades (one with 30% upside) appeared first on The Motley Fool Australia.

But earnings season is still going, and we have three All Ords shares that bounced up much higher today (at least at one point) thanks to some pleasing results for the 2023 financial year. Let's check them out.

Three All Ords shares that bounced higher on earnings 

Helloworld Travel Ltd (ASX: HLO)

ASX travel stock Helloworld Travel is first up. Helloword shares were on fire today, finishing up a happy 6% at $3.18 each after closing at $3 last Friday. And looking at the company's full-year results for FY23, it's not hard to see why. This morning, Helloworld revealed that its revenues for FY23 came in at $165.9 million, up a whopping 1395% from the $69.3 million reported in FY22.

That helped pull Helloworld's earnings before interest, tax, depreciation and amortisation (EBITDA) up to $44.1 million, up from a loss of $10.6 million last year.

The company's net profits after tax (NPAT) also swung back in the black. Helloworld reported an NPAT of $19.2 million for the year, up from a net loss of $28.8 million in FY22.

The Helloworld Travel share price is now up a massive 137% in 2023 to date:

Infomedia Limited (ASX: IFM)

Next cab off the rank is All Ords software-as-a-service company Infomedia. Infomedia shares also shooting higher today, rising by a respectable 4.27% to $1.71 a share after closing at $1.64 last week. That was after this company spiked up to $1.78 a share this morning (up nearly 10% at the time), a new 52-week high for Infomedia.

Again, it's not hard to see why investors are so excited. Infomedia announced today that its revenues for the 2023 financial year came in at $129.91 million, up from $120.14 million over FY22. 99% of this revenue came from recurring sources. Meanwhile, underlying cash EBITDA rose by 14% from $24.8 million to $28.38 million, while NPAT lifted 16% to $9.6 million.

Infomedia shares are now sitting at a year-to-date gain of 43%:

Lindsay Australia Ltd (ASX: LAU)

Finally today, let's check out All Ords logistics and transport company Lindsay. With this company, we saw some strange machinations when it came to the share price. Lindsay shares closed at $1.17 last week but opened at $1.27 a share this morning before rising as high as $1.29 (up more than 10.2% at the time).

However, investors spent the day cooling their jets, and at market close, the Lindsay share price finished in red territory, down 2.99% at $1.135 a share. So let's check out what the company had to say in its earnings report this morning.

Lindsay reported $676.2 million in revenues for the 2023 financial year, up 22.3% on the $553 million from FY22. Underlying EBITDA rose by an even more impressive 50.2% to $90.3 million, while underlying NPAT lifted from $18.69 million to $36.52 million.

It's not clear why investors have had such dramatic second thoughts about these numbers today. However, it is worth noting that the Lindsay share price is up a huge 48% in 2023 so far:

The post Which 3 ASX All Ord shares charged higher on full-year results today? appeared first on The Motley Fool Australia.

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

Galan Lithium Ltd (ASX: GLN)

The Galan Lithium share price is up 6% to 71 cents. This follows the release of an update on the company's flagship Hombre Muerto West lithium brine project in Argentina. According to the release, the company has achieved impressive grades and flow rates at the project following the construction of all wells required to support the phase 1 production.

Helloworld Travel Ltd (ASX: HLO)

The Helloworld Travel share price is up 7.5% to $3.23. Investors have been buying this travel company's shares following the release of its FY 2023 results. Helloworld reported a 139.5% increase in revenue to $165.9 million and a profit after tax of $19.2 million. The latter is up from a loss of $28.8 million in FY 2022.

Infomedia Limited (ASX: IFM)

The Infomedia share price is up over 4% to $1.71. This morning, this automotive industry software company released its FY 2023 results and reported an 11% increase in recurring revenue to $128.1 million and a 16% jump in net profit after tax to $9.6 million.

Melbana Energy Ltd (ASX: MAY)

The Melbana Energy share price is up almost 44% to 8.9 cents. This follows news that the company has finally had some success with its Alameda-2 appraisal well. Melbana reported peak flow to surface of 1,903 barrels of oil per day from Unit 1B. Positively, the oil was significantly lighter and had lower viscosity compared to other units in the Amistad Formation.

The post Why Galan Lithium, Helloworld, Infomedia, and Melbana Energy shares are rising appeared first on The Motley Fool Australia.

However, there could be a pretty straightforward method to spot ASX shares worthy of buying.

Some stocks took off during last month's reporting season. And it's not an outrageous argument to hop on to these stocks that have both business and share price momentum.

The analysts at Celeste Funds Management this week named two such ASX shares this week that still have appealing prospects for further returns.

Executing well and plenty of future opportunities lined up

Shares for automotive industry software maker Infomedia Limited (ASX: IFM) went absolutely gangbusters in February.

"Infomedia rose 26.7% over the month, with the 1H23 result pointing to sales re-acceleration, good progress on cost control and a healthy sales pipeline," stated a Celeste memo to clients.

"Infomedia delivered sales growth across all regions (HoH) and made solid progress in reshaping the cost base."

The Infomedia share price has now gained more than 7% over the past year, all while paying out a dividend of 3.5%. Not bad for a period when most technology stocks suffered.

There is plenty of potential to be tapped in the near future, too.

"The company disclosed $15 million of potential annual recurring revenue opportunities, and while they still have to be won, it highlighted a refocus on client engagement by the new management team," read the Celeste memo.

"The balance sheet is net cash and Infomedia should see ongoing improved performance."

Much of the rest of the professional investment community agrees with the Celeste team. According to CMC Markets, six out of seven analysts currently rate Infomedia as a buy with five of those recommending it as a strong buy.

'Appealing exposure to a defensive industry'

While Australian Clinical Labs Ltd (ASX: ACL) shares have struggled over the past year, losing 22.5%, the stock enjoyed a massive renaissance during reporting season.

"Australian Clinical Labs rallied 16.5% during the month following a 1H23 result that beat market expectations," read the Celeste memo.

"Although COVID revenue was down (PCR testing volumes), the core business revenue grew 18%."

The Celeste analysts were impressed with the pathology service provider's cost control, as it "maintained an operating profit margin of 11%, in line with previous guidance". 

The current half is already looking great, and Celeste analysts reckon the shares are still inexpensive to buy in.

"Looking ahead, 2H23 has started strongly with Jan 23 LFL revenue growth of 22%," read the memo.

"ACL is an appealing exposure to a defensive industry and remains cheap versus listed peers."

Australian Clinical Labs is also popular with other fund managers, with four out of five analysts currently surveyed on CMC Markets rating it as a strong buy.

The post Catch these fast-rising 2 ASX shares before it's too late: Celeste appeared first on The Motley Fool Australia.

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

Accent Group Ltd (ASX: AX1)

The Accent share price is up 6.5% to $2.28. Investors have been buying this fashion and footwear retailer's shares following the release of a stellar half-year update. Accent reported a 39% increase in sales and a 290% jump in net profit after tax to $170.2 million. Another positive was that Accent increased its interim dividend by 380% to a fully franked 12 cents per share.

Brambles Limited (ASX: BXB)

The Brambles share price is up 8% to $13.00. This follows the release of the logistics solutions company's half-year results. Brambles reported a 7% increase in sales revenue and a 9% lift in profit after tax. Looking ahead, management has upgraded its FY 2023 guidance. It now expects revenue growth of between 12% to 14% and underlying profit growth of between 15% to 18%.

Infomedia Limited (ASX: IFM)

The Infomedia share price is up 11% to $1.31. Investors have been buying this automotive industry software provider's shares after it delivered a solid half-year result. Infomedia reported a 6.7% increase in revenue to $62.9 million and a 38.5% jump in net profit after tax to $4.8 million.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is up 3.5% to $4.63. This has been driven by the release of the lithium miner's half-year results. Pilbara Minerals posted a 647% increase in revenue to $2.18 billion and a 989% increase in profit after tax to $1.24 billion. This allowed the company to declare its inaugural 11 cents per share fully franked interim dividend.

The post Why Accent, Brambles, Infomedia, and Pilbara Minerals shares are pushing higher appeared first on The Motley Fool Australia.

In afternoon trade, the automotive industry software provider's shares are up 11% to $1.31.

This follows the release of the company's half-year results, which impressed the market.

Infomedia share price jumps on strong profit growth

• Total revenue up 6.7% to $62.9 million
• Recurring revenue up 9.8% to $62.3 million
• Exit annual recurring revenue (ARR) up 10.8% to $127.1 million
• Net profit after tax up 38.5% to $4.8 million
• Interim dividend cut by 15.4% to 2.2 cents per share

What happened during the half?

For the six months ended 31 December, Infomedia reported a 6.7% increase in revenue to $62.9 million. This reflects a solid jump in recurring revenue, which offset a decline in one-off revenue. This is in line with its strategy of shifting its focus to recurring revenue.

Thanks to management's work on cost reductions, the company's underlying costs grew just 3.5% during the half. This helped widen its profit margin and underpinned a 38.5% increase in net profit after tax to $4.8 million.

Despite this profit growth, the Infomedia board elected to cut its interim dividend by 15% to 2.2 cents. This will be 36% franked.

Management commentary

Infomedia's CEO, Jens Monsees, commented:

I am very happy with the progress our team has made in executing on our new strategy. We have significantly grown our sales pipeline in 1H23 and are excited by the opportunities generated. We have also made substantial progress in our operating excellence initiatives and in transitioning towards being a product-led business. I am pleased with the initial cost benefits we have realised and I am confident our new strategy will continue to deliver strong ARR growth.

Outlook

Management has reaffirmed its guidance for FY 2023.

It continues to expect total revenue of $127 million to $131 million and an exit ARR of $129 million to $132 million.

The post Infomedia share price shifts up a gear as profits surge almost 40% appeared first on The Motley Fool Australia.

But stocks themselves don't have any memory.

They don't care whether they have been soaring or plunging. All that matters is where it will go from now.

Santa might only bring presents to nice girls and boys, but naughty shares can still be handsomely rewarded if the underlying business performs well.

With this in mind, the team at Celeste Funds Management this week named two stocks it holds that gained spectacularly in November and one that bitterly disappointed.

But all three, the analysts hope, are set to reach lofty heights.

'Asset quality remains solid'

Small business bank Judo Capital Holdings Ltd (ASX: JDO) saw its share price climb a tidy 18.4% in November.

The Celeste team, in a memo to clients, attributed this to "strong" briefing at its annual general meeting in late October.

"The update confirmed Judo appear[s] to be on track to reach their at-scale metrics, with the loan book growing to $6.8 billion."

Despite an excellent November, the Judo share price is still more than 39% down year to date.

The prospect of an economic slowdown or a recession does not concern Celeste analysts.

"Judo's asset quality remains solid with no material uptick in arrears and the company remains well-capitalised with a 19.5% CET1 ratio, well in excess of the major banks benchmark of circa 10.5%."

The bank also revealed new appointments to the deputy executive officer and chief financial officer positions.

Opening new stores

Furniture merchant Nick Scali Limited (ASX: NCK) enjoyed a 12.2% rise in value last month.

Again, Celeste analysts tracked this back to an AGM update, which apparently "alleviated market concerns around short-term consumer demand".

"Group revenue for the four months to October was 74% above the prior year while written sales orders were 55% above the prior year," the memo read.

"Ongoing Plush synergy capture saw group gross margins expand to 61.3% from 59.5% in June 2022, resulting in expected 1H23 net profit of between $56 million and $59 million, [which is] a 57% to 66% increase on the prior year."

Similar to Judo, one good month still leaves Nick Scali shares a long way from breaking even in 2022. The stock is more than 29% lower than where it started the year.

The Celeste team sees a viable growth plan in the Nick Scali business.

"Management intends to continue their store rollout strategy, aiming to open at least six new stores across the group in FY23."

Focus on the long-term growth

Infomedia Limited (ASX: IFM) makes software for the vehicle parts and services sector.

Unfortunately, its share price plummeted a painful 10.2% over November.

Again, the AGM was to blame, with the company downgrading its revenue guidance at the event.

"Infomedia noted that the range would be $127 million to $132 million, down from previous expectations of $131 to $139 million," read the Celeste memo.

"The slippage has been driven by a slowdown in ecommerce transactions, in part, an unwind of the previous year's covid driven spike."

But the Celeste analysts were not worried about that. They were focused on what the future would bring.

"More relevant was the announcement that Infomedia data offerings continue to see double-digit revenue growth," read the memo.

"The new CEO is seeking to address the legacy cost base while at the same time driving the sales discussion and negotiations towards the higher level management at the major global auto players."

The Infomedia share price is down 28.8% year to date.

The post Naughty or nice? Buy 3 ASX shares heading in opposite directions, says fund appeared first on The Motley Fool Australia.

Twelve months ago, technology shares were riding high, bathing in all the love from the market. It's the future! How can you go wrong?

But now the S&P/ASX All Technology Index (ASX: XTX) has crashed 36% year to date and high-growth tech stocks have been abandoned like a sinking ship.

But does this mean there are some bargains to be nabbed?

Here are two ASX shares that Celeste Funds Management reckon are ripe for investing at the moment:

'Ballast in the portfolio' during uncertain times

As a services provider, Data#3 Limited (ASX: DTL) is rarely mentioned among the more glamorous tech stocks.

But for the Celeste team, it's a reliable investment in tough times for the market and the economy.

"Data #3 [shares] rose 3.5% over the month of September in what was one of the most challenging months in ASX history," its memo to clients read.

"While there were no new announcements of note in September, the strong August result saw Data #3 deliver sales of $2,193 million (+12.2% vs pcp) and NPAT of $30 million (+19.1% vs pcp)."

While most tech shares plunged, the Data #3 share price has actually risen 4.6% so far this year.

The business has a $6 million backlog of work and showed "no signs of weakening demand", which investors loved during a time of great economic anxiety.

"Looking ahead, while cognisant on valuation, we remain positively disposed to Data #3 as it is a high-quality business with a strong balance sheet that should provide ballast in the portfolio during a period of economic volatility."

'Well placed to grow' 

Infomedia Limited (ASX: IFM) is another name not often seen among the higher-profile tech stocks. The business provides software for the automotive parts supply and service industry.

The share price took a significant hit last month.

"Infomedia declined by 16.4% over the month after the company closed the data room to several prospective private equity bidders post 15 weeks of due diligence."

The Celeste team backed the company's rejection of the acquisition proposal.

"This bid was typical of recent form of most private equity bids in Australia which have amounted to little more than time-wasting fishing trips."

The analysts retain full faith in Infomedia's long-term prospects.

"Infomedia has solid software, solves a problem for the corporate user, and remains well placed to grow under the new CEO," read the memo.

"We expect targeted investment in sales and marketing over the next 12 months will boost execution capability in the USA and Europe."

Infomedia shares have dropped 21.9% since the start of the year, but it does pay out a 4.7% dividend yield.

The post 'High quality': Fund names 2 obscure ASX tech shares to buy now appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

5E Advanced Materials Inc (ASX: 5EA)

The 5E Advanced Materials share price has continued its slide and is down a further 18% to $1.67. Investors have been selling this minerals exploration and production company's shares since the release of its results and the announcement of the surprise exit of its CEO last week.

Appen Ltd (ASX: APX)

The Appen share price is down 2% to $3.06. Appen's shares have come under pressure over the last couple of trading sessions due to concerns over demand for its services. This follows a disappointing update out of one of its biggest customers, Meta.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is down 6% to $1.04. Investors have been selling this lithium miner's shares after it completed its institutional placement. Core Lithium has raised $100 million before costs at a discount of $1.03 per new share. In other news, the company revealed that it has sold 15,000 dry metric tonnes (dmt) of spodumene via a digital auction. Demand for the spodumene DSO material was strong, which led to Core Lithium commanding a sale price of US$951/dmt.

Infomedia Limited (ASX: IFM)

The Infomedia share price is down 6% to $1.10. This morning the auto industry software provider revealed that it has not received binding takeover offers from Solera Holdings or a consortium comprising TA Associates and Viburnum Funds by its deadline. As a result, it has closed the virtual data room to Solera and the consortium and requested that they destroy or return all confidential information.

The post Why 5E Advanced Materials, Appen, Core Lithium, and Infomedia shares are dropping appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Clinuvel Pharmaceuticals Limited (ASX: CUV)

The Clinuvel share price is down 7% to $19.87. This morning this biopharmaceutical company's shares were dumped out of the ASX 200 index at the quarterly rebalance. In other news, the company released its latest strategy update. But that clearly hasn't been enough to boost its shares today.

EML Payments Ltd (ASX: EML)

The EML share price is down almost 4% to 90 cents. This embattled payments company's shares were also kicked out of the ASX 200 index this morning following the quarterly rebalance. With its shares down over 70% this year, the company's market capitalisation has dropped to just over $330 million. This wasn't enough to make it a top 200 company.

Infomedia Limited (ASX: IFM)

The Infomedia share price is down 4.5% to $1.30. This morning the software provider to the automotive industry revealed that after 13 weeks of discussions, the TA Consortium has been unable to develop and submit a binding takeover offer. The consortium previously tabled a non-binding $1.70 cents per share offer.

Link Administration Holdings Ltd (ASX: LNK)

The Link share price is down 2.5% to $3.38. This has also been driven by a takeover update. On this occasion, the administration services provider announced this morning that it has rejected a revised takeover offer from Dye & Durham. The suitor revised its offer after coming to the view that it cannot accept conditions set by the UK regulator to complete the deal as it was.

The post Why Clinuvel, EML, Infomedia, and Link shares are dropping today appeared first on The Motley Fool Australia.

Shares in the automotive software company are trading for $1.33 at the time of writing. Earlier, they fetched an intraday low price of $1.24.

Let's go over the highlights of the report.

What did Infomedia report?

• Partially franked final dividend of 3 cents per share
• Revenue up 23% year over year (yoy) to $120.13 million
• Underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) up 8% yoy to $50.02 million
• Net profit after tax (NPAT) down 48% yoy to $8.2 million.

The company's NPAT shank primarily due to inflation of its expenses, with line items such as employees' benefits almost doubling from $27.45 million in FY21 to $54.49 million in FY22. Other items, such as depreciation and amortisation (D&A), grew significantly from $22.94 million to $31.65 million.

A side effect of Infomedia's revenue surge is that its annual recurring revenue (ARR) grew to $119.3 million during the reporting period. This figure is up 4% yoy. This also impacted its cash generation ability and free cash flow grew to 79% yoy.

The company will trade ex-dividend from 2 September. Its recently announced dividend has a value of 3 cents per share and is franked at 14%. The dividend has a record date of 5 September and will be paid on 22 September.

What else happened in FY22?

On a regional basis, the Americas operating segment performed the strongest in FY22. Revenues surged 59%, primarily attributable to the growth in its Infodrive product.

The company reported a strong balance sheet with no debt, cash of $69 million, and net assets valued at $147 million.

The company's revenues are also well-diversified as they are spread across its Microcat, Superservice, Infodrive, and SimplePart services, with each contributing consistent amounts yoy.

What's next?

Guidance was given for FY23, with a positive spin. Infomedia notes that its ARR momentum growth is strong and that it has a robust total addressable market from its product portfolio. Due to these factors, revenue for next year is tracked to fall in the range of $131 million to $139 million.

Its Infodrive and SimplePart services are expected to contribute significantly to this revenue figure, as their growth is expected to be in the double digits next year.

Other initiatives throughout the year will improve the company's internal efficiency by reducing costs and raising underlying cash EBITDA.

Infomedia share price snapshot

The Infomedia share price is down 12.6% year to date. It's doing better than the S&P/ASX 200 Index (ASX: XJO) over the same period, down 6.2%.

The company's market capitalisation is about $539.25 million from today's latest price action.

The post Infomedia's share price tanks 7% as profit almost halves appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are dropping:

Block Inc (ASX: SQ2)

The Block share price is down 2% to $96.44. This follows weakness in the tech sector on Thursday and a pullback from its NYSE listed shares during overnight trade. The company's shares fell 2.5% on Wall Street on Wednesday night.

Bubs Australia Ltd (ASX: BUB)

The Bubs share price has sunk 10% to 55 cents. Investors have been selling this infant formula company's shares despite the release of another update on its US operations. Today's decline could be a delayed reaction to Bubs' capital raising on Wednesday, which raised a total of $40.1 million from institutional investors at an 18.8% discount of 52 cents.

Infomedia Limited (ASX: IFM)

The Infomedia share price is down 6% to $1.58. This morning the auto industry software company revealed that Battery Ventures has withdrawn its takeover proposal. While there are still two $1.70 per share bids on the table, Battery Ventures was the highest bidder with a $1.75 per share proposal.

Zip Co Ltd (ASX: ZIP)

The Zip share price is down 7.5% to 53.2 cents. This decline appears to have been driven by a bearish broker note out of UBS this morning. According to the note, UBS has retained its sell rating and slashed its price target on the buy now pay later provider's shares to 45 cents. The broker is concerned that Zip could inadvertently worsen its credit performance if it raises fees in an effort to improve profitability.

The post Why Block, Bubs, Infomedia, and Zip shares are dropping appeared first on The Motley Fool Australia.