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Why Appen Share Price Has Jumped Over 12% Today?

Jordan Baird

Jordan Baird is the head ASR Wealth Advisers client services desk and has been with the organisation since 2017. He first started investing in his early years. While he believes that investors should leave no stone unturned he has a particular interest in trading based on broad macroeconomic trends along with specific analysis of innovative up-and-coming companies.

Appen Ltd (ASX: APX) is a global data tech company that focuses on developing high-quality human annotated datasets and data training for machine learning and artificial intelligence. Appen integrates expertise in capturing and enriching various data types while providing their services in more than 150 languages to other tech companies and government agencies. APX is a part of WAAAX, a small group of Australian tech/software companies leading high stock growth.


(Source Appen Ltd)

Full Year Earnings Upgrade

This morning Appen announced a strong full year earnings upgrade, notifying the market that the company’s underlying EBITDA for FY2019, ending December 31st 2019, is estimated to be within the range of A$96M to A$99M. Previously, Appen’s guidance for the underlying EBITDA was estimated between the range of A$85M to A$90M. This represents a sizeable improvement in EBITDA guidance for the financial year 2019 and up to a 38.9% increase in Appen’s underlying EBITDA in FY2018.

The biggest drivers contributing to the earnings forecast includes is the growth of business, more specifically an increase in “monthly revenue and margins, largely from the existing projects with existing customers”.

Furthermore, in the same announcement Appen:

Reinforces its high conviction for the acquisition of Figure Eight and confirms previous 2019 ARR guidance of A$30M – A$35.

According to the Royal Bank of Canada, the guidance likely suggests that acquisition of Figure Eight, is performing in line with Appen’s expectations and under control.

The improved earnings guidance has increased Appen’s share price and given positive impressions to the market. As of 3:39PM AEST 18/11/19, Appen Ltd’s share price (ASX: APX) have increased to A$26.30. Compared to their closing value of A$23.31 last week, on the 15th November, this represents a strong 12.83% increase in share price. Furthermore, over the past twelve months the current share price represents an 87.08% increase.




This article has been prepared by the Australian Stock Report Pty Ltd (AFSL: 301 682. ABN: 94 106 863 978)

(“ASR”). ASR is part of Amalgamated Australian Investment Group Limited (AAIG) (ABN: 81 140 208 288 Level 13, 130 Pitt Street, Sydney NSW 2000).

This article is provided for informational purpose only and does not purport to contain all matters relevant to any particular investment or financial instrument. Any market commentary in this communication is not intended to constitute “research” as defined by applicable regulations. Whilst information published on or accessed via this website is believed to be reliable, as far as permitted by law, we make no representations as to its ongoing availability, accuracy or completeness. Any quotes or prices used herein are current at the time of preparation. This document and its contents are proprietary information and products of our firm and may not be reproduced or otherwise disseminated in whole or in part without our written consent unless required to by judicial or administrative proceeding. The ultimate decision to proceed with any transaction rests solely with you. We are not acting as your advisor in relation to any information contained herein. Any projections are estimates only and may not be realised in the future.

ASR has no position in any of the stocks mentioned.

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