Why the CV Check (ASX:CV1) share price will be on watch this morning

The CV Check Ltd (ASX: CV1) share price will be on watch today following a business update. We take a look at the company’s performance.
The post Why the CV Check (ASX:CV1) share price will be on watch this morning appeared first on The Motley Fool Australia. –

asx share price on watch represented by investor looking through magnifying glass

The CV Check Ltd (ASX: CV1) share price will be on watch this morning following the company’s release of a business update. At yesterday’s market close, the online integrated screening and verification company’s shares finished the day at 14.5 cents.

Let’s take a look at what CV Check provided investors with late Monday evening.

Best sales on record

The CV Check share price could be on the move today after the company advised it delivered a robust performance for the March quarter.

According to its release, CV Check reported strong trading conditions throughout February. This resulted in the company achieving a new all-time sales record for the month, and the 12-month booked annual recurring revenue (ARR).

The strong sales growth came from new customer wins, as well as high-order volumes driven by its established customer base.

CV Check noted that sales are continuing to run into March – the final month of Q3 FY21.

In addition, the company highlighted that the Bright People Technologies acquisition is on track. Settlement is expected to occur sometime in early April.

CV Check CEO Rod Sherwood commented on the company’s solid performance:

A very strong couple of months have kicked off the calendar year. A strong January was followed by new all-time revenue records being set in February for both a single month of sales and the booked 12-month ARR. Growth is being driven by both new customer wins and high order flow from long standing customers who are active in bringing on new hires and re-compliance screening. March sales volume as experienced to date continues to be very strong.

CV Check share price snapshot

The CV Check share price has gained over 100% in the past 12 months, but lost over 20% year to date. The company’s shares reached a 52-week high of 21 cents in February when news of the acquisition came to light.

Based on valuation grounds, CV Check has a market capitalisation of around $51.5 million, with 355.2 million shares on issue.

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.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has recommended CV Check Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the CV Check (ASX:CV1) share price will be on watch this morning 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!