Serko Limited traded yesterday with a buoyant sentiment that saw its stock value swell by over 4%.
Serko is a leading supplier of cloud-based booking software, which is designed for corporate travel booking and expense management. The company has a strong presence in New Zealand and Australia, and services clients from 25 countries.
Serko has a market capitalisation of $255,509,461. At the time of writing, the share price is at $3.28, which is at its highest peak for the year.
Why did [NZX:SKO] share price increase yesterday?
The bullish sentiment yesterday could be attributed to a longer-term upward trend which has seen the share price rise from $2.31 at the beginning of 2018.
Last month, Serko updated its revenue expectations for the year ending 31st March 2019, predicting sales growth of 20%–30% (revised upwards from 15%–30% previously).
Serko has also announced plans to raise $15 million from selling its shares at a discount. The revenue raised would be invested in sales and support functions and product development for international markets.
So where could the Serko share price go from here?
Serko’s plans for geographic expansion could pay off for investors if all goes well. A new corporate partnership with Uber announced last month promises further integration with 6,000 organisations around the world already using Serko platforms.
Serko appears well positioned for future growth.
Editor, Money Morning New Zealand