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

 

Finance: Major Campaign To End "Gross Overtaxation Of Savings"

The campaign – which includes a special web site through which New Zealanders can e-mail their own and other MPs and party leaders – is backed by Age Concern, Consumer NZ, the Financial Services Council and the Taxpayers’ Union. More>>

ALSO:

Scoop Business: Leighton-Led WGP To Build, Manage Transmission Gully

The Wellington Gateway Partnership, led by a unit of ASX-listed Leighton Holdings, has won the $1 billion contract to build the Transmission Gully road north of Wellington. More>>

ALSO:

Gareth Morgan: The Government’s Fresh Water Policy – Revisited

Fresh water quality is the latest area to be in the sights of Gareth Morgan and his research organisation The Morgan Foundation... They found that the fresh water policy was a bit murkier than the Environment Minister let on. More>>

ALSO:

Interest Rates: RBNZ Hikes OCR To 3.5%, ‘Period Of Assessment’ Now Needed

Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while signalling a pause in rate hikes to assess the impact of moves so far this year. The kiwi dollar sank after Wheeler said its strength was “unjustified” and that the currency could have “a significant fall.” More>>

ALSO:

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news