This week has certainly been a good one for Damstra shareholders.
The post Damstra (ASX:DTC) share price surging again up 16% today appeared first on The Motley Fool Australia. –
The Damstra Holdings Ltd (ASX: DTC) share price is rocketing higher for a second day today.
The workplace management software-as-a-service provider hasn’t released any news today.
However, just yesterday, Damstra released its quarterly activity report and results detailing record breaking revenue and cash receipts.
Right now, the Damstra share price is $1.13. This is 16.49% higher than yesterday’s closing price. This is pretty impressive following the stock rising 20.75% yesterday!
That’s right. The Damstra share price has gained 41.25% since market close on Wednesday.
So, what news is warranting such a dramatic boost to the price? Let’s take a look.
The latest from Damstra
Damstra reported receiving its highest ever recorded revenue at $9.1 million over the June 2021 quarter.
It also achieved a record-breaking $10 million worth of cash receipts.
Also in June, Damstra received a $20 million debt facility, 55 new clients, and 74% more active users.
Damstra now has 724 clients and 157 joined during the 2021 financial year. It also has 737,000 active users.
Commentary from management
Damstra’s CEO Christian Damstra commented on the company’s activities:
In [the fourth quarter] we continued to see material increases in users across all of our product modules and delivered increased value to our customers through constant product innovation. We remain in productive contractual negotiations with several potentially material clients in the United Kingdom and North America.
Damstra share price snapshot
Despite this week’s impressive growth, the Damstra share price is still in the red on the ASX for 2021.
It is 27% lower than it was at the start of the year. It is down 34% since this time last year.
The company has a market capitalisation of about $213 million, with approximately 186 million shares outstanding.
Should you invest $1,000 in Damstra right now?
Before you consider Damstra, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Damstra wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of May 24th 2021
Why the Damstra (ASX:DTC) share price is on the move today
Why Cettire, Damstra, IGO, & Rhipe shares are storming higher
Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.
The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Damstra Holdings Ltd. The Motley Fool Australia owns shares of and has recommended Damstra Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.