Insights

Why the MoneyMe (ASX:MME) share price is rocketing 10% this Monday

Today’s quarterly results are exciting investors.
The post Why the MoneyMe (ASX:MME) share price is rocketing 10% this Monday appeared first on The Motley Fool Australia. –

The MoneyMe Ltd (ASX: MME) share price is shooting straight for the moon.

At the time of writing, shares in the consumer credit business are trading for $2.09 – up 10%. For context, the S&P/ASX 200 Index (ASX: XJO) is 0.28% higher.

The positive price movement comes as the company releases its trading update for the first quarter of FY22.

Let’s take a closer look at today’s announcement.

What did MoneyMe announce?

The MoneyMe share price may be rocketing today due to the following results:

$1 billion in customer receivable originations since 2013.
Originations of $173 million in the quarter – up 283% on the prior corresponding period (pcp) and 7.45% over the previous quarter.
Gross customer receivables of $452 million – up 227% on the pcp and 26.7% on the prior quarter.
Record revenue of $23 million – up 92% on the pcp and 21% on Q4 of FY21.

What did management say?

MoneyMe’s Managing Director and CEO Clayton Howes said:

I am delighted to announce that MoneyMe has passed the $1bn origination milestone. This reflects our consistent focus over time to invest in and develop the digital capabilities of our Horizon technology platform, an unrelenting focus on the Generation Now customer and our persistent innovation.

What’s affecting the MoneyMe share price?

Looking deeper into the numbers, MoneyMe says its personal loans and freestyle divisions continue to drive the majority of growth in the business – both being quite resilient during lockdown.

Autopay, MoneyMe’s consumer car financing facility, achieved “significant growth despite the challenges of car buyers during lockdown”.

The MoneyMe share price may also be rising due to its “strong” performing credit and book quality metrics. Net charge-offs were 5.4% down on the pcp and COVID-19 deferrals were low at 0.2% of customer receivables.

MoneyMe share price snapshot

Over the past 12 months, the MoneyMe share price has increased 36.4%. Year-to-date, shares in the company have appreciated 42.9%.

The 52-week high is $2.48 and the 52-week low is $1.29.

MoneyMe has a market capitalisation of approximately $358 million.

The post Why the MoneyMe (ASX:MME) share price is rocketing 10% this Monday appeared first on The Motley Fool Australia.

Should you invest $1,000 in MoneyMe right now?

Before you consider MoneyMe, 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 MoneyMe 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 August 16th 2021

More reading

MoneyMe (ASX:MME) share price gains 3% on new funding agreement

Motley Fool contributor Marc Sidarous has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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!