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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Afterpay Limited    APT   AU000000APT1

AFTERPAY LIMITED

(APT)
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Australia shares rise on stimulus, vaccine hopes

07/21/2020 | 02:30am EST

* Australian benchmark sees highest close since June 10

* Healthcare stocks boosted by positive vaccine data

* Travel stocks gain

July 21 (Reuters) - Australian shares closed higher on Tuesday, marking their best session since June 16, after the country's central bank advocated for further fiscal stimulus, boosting demand for riskier assets.

The S&P/ASX 200 index closed 2.6% up at 6,156.30, highest since June 10. The benchmark had settled 0.6% lower on Monday.

Reserve Bank of Australia (RBA) Governor Philip Lowe on Tuesday urged the government to borrow more and boost public spending to support the country's economic recovery.

Lowe said the government could "smooth things out" through direct cash transfers to households and businesses as well as by boosting public spending on infrastructure and wage subsidy schemes.

"The RBA talked up the labour market and kept the status quo in many ways. This is the biggest driver today coming up from a flat U.S. market close," said Brad Smoling, managing director at Smoling Stockbroking.

Promising early data from trials of three potential COVID-19 vaccines, which bolstered hopes that vaccines against the disease might be ready by the end of year, also supported market sentiment.

The Technology sector, which rose 5.7% and closed at a record high, was the top gainer on the Australian benchmark index.

WiseTech Global closed 4.3% higher, while Afterpay added nearly 8%.

Healthcare stocks rose 3.7%, cheering the potential vaccine results, with CSL Ltd gaining 3.9%, and Cochlear firming 5.7%.

The heavyweight financial index rose slmodt 3%, marking its best day since June 10, with the Big Four banks closing above 2%.

Australia's travel stocks also rebounded, with travel services provider Corporate Travel Management, one of the biggest percentage gainers on the benchmark, closing over 9% higher.

New Zealand's benchmark S&P/NZX 50 index closed 1.6% higher at 11,736.73.

Top gainers were Kathmandu Holdings, finishing 4.5% up, followed by Skycity Entertainment that rose 4%. (Reporting by Nikhil Subba in Bengaluru; Editing by Vinay Dwivedi)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AFTERPAY LIMITED -5.15% 141.33 End-of-day quote.19.77%
COCHLEAR LIMITED 0.63% 197.9 End-of-day quote.4.71%
CORPORATE TRAVEL MANAGEMENT LIMITED -0.47% 16.79 End-of-day quote.-4.06%
CSL LIMITED 2.17% 274.6 End-of-day quote.-3.03%
KATHMANDU HOLDINGS LIMITED -1.47% 1.34 End-of-day quote.4.69%
S&P/ASX 200 0.27% 6817 Real-time Quote.3.24%
SKYCITY ENTERTAINMENT GROUP LIMITED -0.64% 3.09 End-of-day quote.-3.74%
WISETECH GLOBAL LIMITED 1.25% 33.2 End-of-day quote.7.97%
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Financials
Sales 2021 954 M 736 M 736 M
Net income 2021 9,44 M 7,28 M 7,28 M
Net cash 2021 381 M 294 M 294 M
P/E ratio 2021 1 860x
Yield 2021 -
Capitalization 40 301 M 31 099 M 31 080 M
EV / Sales 2021 41,9x
EV / Sales 2022 26,7x
Nbr of Employees 665
Free-Float 67,4%
Chart AFTERPAY LIMITED
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Afterpay Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends AFTERPAY LIMITED
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 108,34 AUD
Last Close Price 141,33 AUD
Spread / Highest target 8,31%
Spread / Average Target -23,3%
Spread / Lowest Target -78,8%
EPS Revisions
Managers and Directors
NameTitle
Anthony Mathew Eisen Co-CEO, Executive Director & Managing Director
Nicholas David Molnar Co-CEO, Executive Director & Managing Director
Elana Rubin Independent Chairman
Frerk-Malte Feller Global Chief Operating Officer
Rebecca Lowde Chief Financial Officer
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