Insights

Appen (ASX:APX) share price rises further following investor presentation

The Appen share price has continued its good form and risen again today. Here’s the latest on this ASX WAAAX share.
The post Appen (ASX:APX) share price rises further following investor presentation appeared first on The Motley Fool Australia. –

The Appen Ltd (ASX: APX) share price has continued its good form of the week so far, and is up another 3.18% today to $13.62 a share at the time of writing. This move comes after the tech company rocketed more than 19% in value yesterday on the back of a business update the company gave to investors.

But these rises pale against the losses investors have suffered on Appen shares in recent months. Since reaching a peak of $43.66 in August last year, Appen has been locked in a nasty share price slide, which saw the company’s shares lose more than 65% of their value on today’s pricing. As recently as Monday, these losses were as high as 72%.

But investors seemed to have a decisive change of heart yesterday, when the company increased its market capitalisation by a fifth in one trading session. The catalyst for this bold move? The aforementioned business and trading update.

As we covered yesterday, Appen announced a business restructure that will result in the company having four customer-facing business units. These will be global, enterprise, China, and government.

Appen also announced that it would be moving to report in US dollars.

In terms of the trading update, the company announced that it is on track to deliver underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of US$83-90 million in FY 2021. That’s in line with its previous guidance. This would translate into a growth rate of 18-28% from FY 2020.

Appen shares rise after investor day presentation

So what’s changed today? Well, Appen held an investor technology day presentation this morning, the contents of which it has disclosed to the markets.

There wasn’t a lot of new information that built on what Appen discussed yesterday. However, the company did discuss its restructuring plans (or ‘evolution’) as well as how it’s positioning its business models for future growth. Appen also laid out its plans for new products, which include Appen Intelligence, Appen In-Platform Audit and Appen Mobile.

Investors have clearly liked what they have seen, given the Appen share price reaction today. Appen is now up more than 25% since the lows it was hitting just last Friday.

Investors will no doubt be hoping that it’s only up from here, and this marks Appen’s return to its glory days. We will have to wait and see if that proves the case, but the performance over the past 2 days is a good start to that end. At the current share price, Appen has a market capitalisation of $1.69 billion.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of February 15th 2021

More reading

ASX 200 sinks, EML plunges, Appen soars

Which ASX 200 shares withstood today’s selloff?

Here’s why the Appen (ASX:APX) share price is rocketing 16% higher
Why Appen, ELMO, Nuix, & Paradigm shares are pushing higher

ASX 200 down 1.7%: Appen jumps 12%, EML Payments crashed 37%

The post Appen (ASX:APX) share price rises further following investor presentation appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!