Why the Damstra (ASX:DTC) share price is jumping 9% higher today
James Mickleboro | April 27, 2021 10:19am |
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Damstra Holdings Ltd(ASX: DTC) share price is jumping higher.
At the time of writing, the integrated workplace management solutions provider’s shares are up 9% to $1.21.
Why is the Damstra share price charging higher?
Investors have been buying Damstra’s shares today after it released a solid third quarter update.
According to the release, for the three months ended 31 March, Damstra recorded revenue of $6.9 million. This was up 66% on the prior corresponding period.
This strong quarter takes the company’s annualised recurring revenue (ARR) to $33 million, which is almost double what it reported a year ago.
2 growing small cap ASX shares you need to watch
James Mickleboro | April 24, 2021 10:30am |
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While small cap shares carry a lot more risk than blue chips, the potential returns on offer are vastly superior. This could make it well worth having a little exposure to this side of the market if your risk tolerance allows.
But which small caps should you be looking at? Two to get better acquainted with are as follows:
Damstra Holdings Ltd
The first small cap to look at is Damstra. It is an integrated workplace management solutions provider.
Damstra provides businesses with a cloud-based workplace management platform that tracks, manages, and protects their workers and assets.
2 highly rated ASX tech shares to buy this month fool.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com.au Daily Mail and Mail on Sunday newspapers.
These ASX tech shares are all trading near their lowest prices in months
Rhys Brock | April 6, 2021 10:28am |
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Many ASX tech companies became market darlings during COVID-19. While broad sectors of the economy suffered under lockdowns, tech companies found themselves in high demand. Technology kept us connected and entertained while we isolated in our homes. Additionally, it helped companies support workforces transitioning to remote working setups.
But as many countries begin to see the beginnings of an end to the pandemic, investors are struggling to work out how these companies will all fare once life returns to something closer to “normal”. Spurred on by recent falls on the NASDAQ, many of the tech stocks that surged to new highs just a few months ago have now lost significant chunks of their market caps.