Bigtincan Holdings Limited [ASX:BTH] is an Australia-based company providing enterprise mobility software. Currently, the share price is trading up 17% — a dramatic rise from yesterday. The company provides software as a service (SaaS) solutions to customers primarily in the US.
What’s the news behind this price move?
This morning, Bigtincan provided the market with a revenue guidance upgrade for 2019. This upgrade will last until the end of the 2019 financial year.
Bigtincan’s management had previously advised that they were already on track for year-on-year revenue growth between 35-40%.
As of now, they expect this growth to be in excess of 40%.
Bigtincan has already provided shareholders a return of 70.3% since the low in January. Factoring in the current share price of $0.54, that would take the current yearly gain to 100%.
The current price of BTH is now factoring in this latest news. It’s not unreasonable to expect the share to sell off over the next day or two as some investors and day traders look to lock in any short-term profits. However, the company remains an interesting long-term proposition.
It is one for the watch list. This article is not an endorsement to buy this stock. It’s an update only.