Australian technology index ASX 200 Information Technology (INDEXASX:XIJ) has fallen 34% since January, and in the past twelve months, it has dropped by 39.15%. Worth mentioning here is that the NASDAQ-100 Technology sector index (INDEXNASDAQ:NDXT) has reported a fall of 38.28% on a year-to-date (YTD) basis and fell by 36.63% in the past one year.
NYSE Technology index has corrected by 40.99% since the beginning of 2022, and in the last 12 months, it has lost 41.06%.
In line with this, this article discusses the stock performance and recent updates shared by ASX-listed technology stocks with the highest market capitalisation. WiseTech Global Limited, Computershare Limited, Xero Limited, Altium Limited and NEXTDC Limited are the stocks discussed.
Meanwhile, the Australian stock market index, ASX 200, was up 0.65% to 6,830.10 points at 12:48 PM AEDT today. The index has gained 0.75% in the last five trading sessions but lost 8.25% on a year-to-date basis.
All eleven significant sectors were trading in the green along with the broader market index. The Information Technology sector registered the highest gain of 2.36%. Consumer Discretionary sector surged by 1.38%, and utilities grew by 1.29%.
Wisetech Global Limited (ASX:WTC)
Software solutions provider to the logistics industry Wisetech has been outperforming its benchmark index. In the last 12 months, the share price has increased by 7.31% and recorded a gain of 37.74% in the last six months. On a year-to-date basis, the share has dropped by 3.42%.
At 12:51 PM AEDT, the shares were spotted trading 3.06% higher at AU$57.99 per share.
The technology company reported a 25% increase in total revenue during the financial year 2022 (FY22). CargoWise’s revenue grew by 35%, and EBITDA surged by 54%. Underlying NPAT grew by 72% and free cash flow by 71%.
WiseTech expects revenue to increase by 20 to 23% in FY23 and EBITDA by 21 to 30%.
Computershare Limited (ASX:CPU)
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Provider of software specialization in stock market, share registry and financial market, Computershare has marked substantial gain recently. The share price zoomed up by 23.38% on a year-to-date basis, and in the past one year, it has marked a rise of 31.52%.
At 1:09 PM AEDT, Computershare’s share was spotted trading 2.24% higher at AU$25.09 per share.
The company delivered 12.2% growth in annual management revenue during FY22. Management EBIT surged by 19%, and ROIC increased by 130 basis points. Margin income zoomed up by 74.3%, and final dividend per share surged by 30%.
Xero Limited (ASX:XRO)
Provider of accounting software for small businesses Xero shares have underperformed its benchmark index in terms of annual and year-to-date performance. Xero’s share price has dropped by 49.97% in one year, and since January 2022, it has plummeted by 46.71%.
Today, Xero’s share price has gained 4.57% to trade at AU$78.04 apiece at 1:18 PM AEDT.
In FY22, the company registered a 29% surge in operating revenue, and total subscribers grew by 19%. Annualized monthly recurring revenue surged by 28%, and EBITDA shot up by 11%. Free cash flow has dropped by 96% during the quarter.
In FY23, the company expects total operating expenses as a percentage of operating revenue to be at the lower end of 80 to 85%.
Altium Limited (ASX:ALU)
Electronic design automation software provider Altium has surpassed the benchmark index in terms of the YTD and annual performance. In one year, Altium’s share price has dropped by 7.42%, and on a YTD basis, it has lost 21.48%.
At 1:33 PM AEDT, Altium’s share price increased by 2.61% to 34.99 per share.
During FY22, the company delivered a 23% growth in revenue and a 57% surge in profit after tax. Earnings per share increased by 57%. Operating cash flow grew by 30%, and EBITDA increased by 33%.
In FY23, the company expects to record an underlying EBITDA margin of 35 to 37%. The expected range of revenue is between US$255 million to US$265 million, a growth of 15 to 20% and 15-18% growth is expected in the electronic design software business, and 20-30% growth is estimated in the engineering cloud platform business.
NEXTDC Limited (ASX:NXT)
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Data center facilities operator NEXTDC has tumbled by 26.63% in the past one year and on a year-to-date basis, it has fallen by 32.40%.
Today, NEXTDC shares underperformed its benchmark index, as they were spotted trading 1.71% down at AU$8.62 per share at 1:42 PM AEDT.
NEXTDC reported an 18% surge in annual revenue during FY22. The underlying EBITDA grew by 26%, and total customers grew by 7%. During the year, the company delivered a statutory net loss after tax of AU$9.1 million.
The company expects its data center services revenue to fall in the range of AU$340 million to AU$355 million during FY23. The expected range of underlying EBITDA is AU$190 million to AU$198 million. Anticipated capital expenditure is AU$380 million to AU$420 million.
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