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

AFTERPAY LIMITED

(APT)
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Australia shares see worst day in four months after Wall Street tech rout

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09/04/2020 | 03:01am EDT

* Victoria state posts record daily death toll

* ASX posts biggest weekly loss since June 12

* Tech stocks see worst day in nearly 5-1/2 months

* NZ restrictions to stay on until at least mid-Sept

Sept 4 (Reuters) - Australian shares fell on Friday by their most in four months, after a sharp sell-off in technology stocks sent Wall Street's main indexes to their worst session since June.

The S&P/ASX 200 index settled 3.1% lower at 5,925.5 in broad-based selling. For the week, the benchmark fell 2.4%, marking its biggest weekly decline since June 12.

Overnight, the tech-heavy Nasdaq Composite slumped 5%, with tech giants Apple and Microsoft weighing the most.

The U.S. tech sector that has led this amazing rally since March-lows finally came a little bit unstuck, said Damian Rooney, director of equity sales at Perth-based investment house Argonaut.

"I think there was a certain inevitability about it and I wouldn't be surprised to see some more," Rooney said.

Adding to woes, Australia's Victoria state reported a record 59 deaths on Friday, including previously unrecorded deaths in aged care facilities, while authorities suggested restrictions in the state may remain even after the current six-week lockdown comes to an end.

Investors are now awaiting U.S. payrolls figures, due at 1230 GMT, which could trigger further sell-offs if the numbers miss economists' expectations that about 14 million jobs were created in August.

Tech stocks were the hardest hit on the Australian benchmark, falling 5.6% in their biggest daily loss since March 23. Buy-now-pay-later firm Afterpay plunged 6.7%, while Xero eased 5.7%.

BHP Group eased 3.8% and dragged miners to a near two-month low as iron ore futures in China snapped a six-session rally.

Financials and healthcare stocks also declined 3% and 3.8%, respectively.

New Zealand's benchmark S&P/NZX 50 index fell 1.9% to 11,824.31, after Prime Minister Jacinda Ardern said coronavirus curbs would stay in place until at least mid-September. (Reporting by Arpit Nayak in Bengaluru; Editing by Subhranshu Sahu)


Stocks mentioned in the article
ChangeLast1st jan.
AFTERPAY LIMITED 0.85% 97.54 End-of-day quote.233.13%
APPLE INC. -2.55% 115.98 Delayed Quote.62.13%
ASX LIMITED 1.08% 83.97 End-of-day quote.7.09%
BHP GROUP 0.69% 36.5 End-of-day quote.-6.22%
DJ INDUSTRIAL -1.44% 28195.42 Delayed Quote.0.24%
MICROSOFT CORPORATION -2.48% 214.22 Delayed Quote.39.29%
NASDAQ 100 -1.84% 11634.348573 Delayed Quote.35.72%
NASDAQ COMP. -1.65% 11478.882835 Delayed Quote.30.08%
S&P 500 -1.63% 3426.92 Delayed Quote.7.83%
S&P/ASX 200 0.85% 6229.4 Real-time Quote.-7.59%
XERO LIMITED 1.66% 116.45 End-of-day quote.45.56%
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Financials
Sales 2021 910 M 645 M 645 M
Net income 2021 6,77 M 4,80 M 4,80 M
Net cash 2021 210 M 149 M 149 M
P/E ratio 2021 2 478x
Yield 2021 -
Capitalization 27 503 M 19 487 M 19 487 M
EV / Sales 2021 30,0x
EV / Sales 2022 19,7x
Nbr of Employees 665
Free-Float 68,4%
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 87,17 AUD
Last Close Price 96,72 AUD
Spread / Highest target 25,1%
Spread / Average Target -9,88%
Spread / Lowest Target -73,6%
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Managers
NameTitle
Anthony Mathew Eisen Chief Executive Officer, Executive Director & MD
Elana Rubin Independent Chairman
Frerk-Malte Feller Global Chief Operating Officer
Rebecca Lowde Chief Financial Officer
Nicholas David Molnar Executive Director & Global Chief Revenue Officer
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