Why did Serko Limited’s [NZX:SKO] Share Price Rise 4.81% Yesterday?

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.

Regards,

Taylor Kee,
Editor, Money Morning New Zealand


Taylor Kee is the lead Editor at Money Morning NZ. With a background in the financial publishing industry, Taylor knows how simple, yet difficult investing can be. He has worked with a range of assets classes, and with some of the world’s most thought-provoking financial writers, including Bill Bonner, Dan Denning, Doug Casey, and more. But he’s found his niche in macroeconomics and the excitement of technology investments. And Taylor is looking forward to the opportunity to share his thoughts on where New Zealand’s economy is going next and the opportunities it presents. Taylor shares these ideas with Money Morning NZ readers each day.


No Thoughts on Why did Serko Limited’s [NZX:SKO] Share Price Rise 4.81% Yesterday?

Leave A Comment

Wealth Morning Stock Market News, Finance and Investments