HUB24 Ltd (ASX:HUB) and Kogan.com Ltd (ASX:KGN) shares were among the best performers on the ASX 200 last week…
The post These were the best performing ASX 200 shares last week appeared first on The Motley Fool Australia. –
The S&P/ASX 200 Index (ASX: XJO) was on form last week and stormed notably higher. The benchmark index rose 149.2 points or 2.1% to end the week at 7,179.5 points.
While a good number of shares climbed higher with the market, some recorded particularly strong gains. Here’s why these were the best performers on the ASX 200 last week:
HUB24 Ltd (ASX: HUB)
The HUB24 share price was the best performer on the ASX 200 last week with an impressive 18.5% gain. This was despite there being no news out of the investment platform provider during the period. The buying was so strong that the company’s shares hit a record high of $28.00 on Friday. This gain appears to have been driven by improving investor sentiment in the tech sector after bond yields softened.
Kogan.com Ltd (ASX: KGN)
The Kogan share price wasn’t far behind with a very strong gain of 17.1%. Investors appear to have been taking advantage of a sharp pullback by the ecommerce company’s shares following a very disappointing trading update earlier this month. Also of note, last week Canaccord Genuity retained its buy rating but cut its price target on the company’s shares to $14.00. The Kogan share price ended the week at $10.19.
Domain Holdings Australia Ltd (ASX: DHG)
The Domain share price was on form and charged 14.8% higher over the five days. Late last week the property listings company confirmed that it has teamed up with private equity firm KKR to make a takeover offer for the PEXA stake owned by Link Administration Holdings Ltd (ASX: LNK). KKR has tabled an offer that values PEXA at $3 billion on a 100% basis. Link owns approximately 44.2% of the property settlement business.
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price was a positive performer and jumped 13.4% last week. This strong gain appears to have been driven by a rally in resources shares and a broker note out of Canaccord Genuity. In respect to the latter, the broker retained its buy rating and lifted it price target on the lithium miner’s shares to $1.45. The Pilbara Minerals share price finished the week at $1.23.
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