Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Wynyard shares soar 19%, analyst sees more room to go

Wynyard shares soar 19% on gun deal news, analyst sees more room to go

By Suze Metherell

Jan. 20 (BusinessDesk) – Shares in Wynyard Group soared to a record, shooting up 19 percent, and could go even further according to an analyst who follows the stock.

The stock rose as high as $3.01, and recently traded at $2.98, valuing the intelligence software developer at $305.7 million.

The booming tech company’s favourability has been likened to younger Palantir Technologies, the US-based intelligence gathering software developer, and is part of the security specialist tech stock in favour across all markets, Forsyth Barr analyst Blair Galpin told BusinessDesk.

“Wynyard is part of the whole sector that’s quite hot,” and the shares could continue to rise up towards $4, Galpin said. “That’s the sort of level people are talking about. There’s still room to move in terms of how far it can go, who knows what these stocks might do.”

The Auckland-based security software developer today announced a deal with UK-based consultancy Arquebus Solutions to develop and supply specialist gun tracking software.

“There was a lot of interest last week. People keeping an eye on them and any positive news is just reinforcing that,” Galpin said.

Wynyard’s stock has risen 157 percent since it listed on the market mid-last year. It has yet to return a profit, and will announce its 2013 results late February.

“These tech stocks have got to keep delivering to forecast, and hopefully over-delivering. Their share price gets punished if they fail to deliver – as in the case of Diligent,” Galpin said. “They live and breathe on their last announcement.”

Last week, Wynyard said it met its 2013 sales forecast $21.5 million, equating to about 62 percent revenue growth. Wynyard’s offer document projected 2014 revenue of $27 million.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Scoop Business: Productivity Commission To Look At Housing Land Supply

The Productivity Commission is to expand on its housing affordability report with an investigation into improving land supply and development capacity, particularly in areas with strong population growth. More>>

ALSO:

Forestry: Man Charged After 2013 Death

Levin Police have arrested and charged a man with manslaughter in relation to the death of Lincoln Kidd who was killed during a tree felling operation on 19 December 2013. More>>

ALSO:

Smells Like Justice: Dairy Company Fined Over Odour

Dairy company fined over odour Dairy supply company Open Country Dairy Limited has been convicted and fined more than $35,000 for discharging objectionable odour from its Waharoa factory at the time of last year’s ”spring flush” when milk supply was high. More>>

Scoop Business: Dairy Product Prices Decline To Lowest Since July 2012

Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. More>>

ALSO:

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news