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    APT   AU000000APT1

AFTERPAY LIMITED

(APT)
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Afterpay lifts Australian shares to record close

08/02/2021 | 02:59am EDT

* Square to buy Afterpay for $29 bln

* Oil Search backs $6.9 bln Santos bid

* Tech posts biggest gain since late March 2020

Aug 2 (Reuters) - Australian stocks jumped to a record close on Monday, with buy-now-pay-later giant Afterpay leading the charge after it agreed to a $29 billion buyout by Jack Dorsey's Square Inc in the country's largest ever deal that also sent its peers higher.

The benchmark ASX 200 index closed 1.3% higher at 7,491.4, after rising to 7,506.30 in intraday trading.

Afterpay settled 19.5% higher after payments firm Square agreed to buy it, creating a global transactions giant and tapping an industry that has boomed over the past year.

"There is a lot more competition now in the BNPL space as we have got more banks and competitors overseas from Apple to Paypal," said Steven Daghlian, a market analyst at CommSec.

"We can see competitors listing as well, which could lead to more M&A activity potentially in that space, with Square also listing on the Australian share market if (the deal) goes ahead."

Tech stocks jumped 6.5% in their best session since late March 2020, while financials rose 1.9% to their highest close since June 22, with all the "Big Four" banks in positive territory.

Australia's No.2 BNPL firm, Zip Co Ltd, gained 9%.

In a day dominated by news on deals, Oil Search added 4.7%, leading gains among energy stocks, after it backed a sweetened $6.2 billion takeover bid by Santos Ltd .

Miners swung between gains and losses throughout the session to end up 0.1% amid weaker iron ore prices, with Fortescue Metals easing 2.1%.

Investors now await a meeting of the Reserve Bank of Australia on Tuesday where analysts expect the central bank to reverse last month's decision to taper its weekly bond buying programme.

Across the Tasman sea, New Zealand's NZX 50 index climbed 0.9% to 12,702.97, with logistics firm Mainfreight Ltd being the top gainer with a rise of 3.5%. (Reporting by Yamini C S in Bengaluru; Editing by Subhranshu Sahu)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AFTERPAY LIMITED -0.26% 126 End-of-day quote.6.78%
FORTESCUE METALS GROUP LIMITED -0.69% 14.31 End-of-day quote.-38.92%
MAINFREIGHT LIMITED -0.09% 90.02 End-of-day quote.29.53%
OIL SEARCH LIMITED -1.81% 4.33 End-of-day quote.16.71%
SANTOS LIMITED -2.22% 7.04 End-of-day quote.12.28%
ZIP CO LIMITED -1.83% 6.96 End-of-day quote.31.57%
All news about AFTERPAY LIMITED
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10/21Australia's Central Bank Wants BNPL Firms to Scrap No-Surcharge Rules -- Update
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10/20AFTERPAY : Westpac to launch zero-interest digital card with young consumers in focus
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10/19Miners lift Australian shares higher; BHP sweetens Noront bid
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10/14Australia shares snap 3-day losing streak; South32 jumps on copper bet
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10/13Redbubble Partners with Afterpay to Provide Consumers Payment Flexibility
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10/13StanChart targets buy now, pay later services through fintech tie-up
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10/12NSX LIMITED (ASX : NSX) Investor Presentation
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Analyst Recommendations on AFTERPAY LIMITED
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Financials
Sales 2022 1 470 M 1 097 M 1 097 M
Net income 2022 -38,0 M -28,3 M -28,3 M
Net Debt 2022 757 M 565 M 565 M
P/E ratio 2022 -11 434x
Yield 2022 -
Capitalization 36 573 M 27 326 M 27 298 M
EV / Sales 2022 25,4x
EV / Sales 2023 16,6x
Nbr of Employees 1 300
Free-Float 77,7%
Chart AFTERPAY LIMITED
Duration : Period :
Afterpay Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends AFTERPAY LIMITED
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 126,00 AUD
Average target price 132,91 AUD
Spread / Average Target 5,48%
EPS Revisions
Managers and Directors
Anthony Mathew Eisen Co-CEO, Executive Director & Managing Director
Nicholas David Molnar Co-CEO, Executive Director & Managing Director
Rebecca Lowde Chief Financial Officer
Elana Rubin Independent Chairman
Dana Stalder Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
AFTERPAY LIMITED6.78%27 326
SQUARE, INC.16.27%116 862
FISERV, INC.-3.25%72 962
GLOBAL PAYMENTS INC.-26.65%46 412
FLEETCOR TECHNOLOGIES, INC.1.65%22 908
NEXI S.P.A5.88%20 924