Thanks to the market storming higher yesterday, a number of shares were able to race to 52-week highs.
Some shares went one better and even reached all-time highs. Below are three which caught my eye. Can they climb higher from here?
The Appen Ltd (ASX: APX) share price climbed to an all-time high of $4.01 on Thursday. This means the data solutions and services company's shares have now gained almost 41% since the turn of the year. Investors have been fighting to get hold of its shares since it upgraded its full-year guidance. Increasing demand for its high quality data for machine learning-based product development led management to increase its full-year EBITDA growth guidance to between 40% and 50%. Previous guidance was for mid to high teen EBITDA growth. Whilst its shares are no longer a bargain buy, I believe the company is still a great long-term investment option. I expect the strong demand for machine learning-based services will only increase over the next few years.
The Big Un Ltd (ASX: BIG) share price hit an all-time high of $1.13 yesterday. Incredibly, this latest gain means the video technology company's shares are up a staggering 380% year-to-date. Due to strong demand for its video subscription products, yesterday management upgraded its fourth quarter cash revenue guidance to over $9 million. This is a 58% quarter-on-quarter increase and a 10% increase on its previous guidance. Like Appen, although Big Un's shares have rallied strongly this year, I believe they could still continue to rise over the next 12 months. Especially if the company is able to successfully monetise its recent acquisition.
The BWX Ltd (ASX: BWX) share price reached an all-time high of $5.99 on Thursday, stretching its year-to-date return to over 46%. Investors appear to be confident over the international expansion of the company's Sukin skin care range. After huge success in the local market, the Australian-made, vegan, carbon neutral, cruelty free, and naturally formulated skincare products have recently launched in Canada, China, and the United Kingdom. I remain confident that the company will make a big success of its expansion and expect it to result in strong earnings growth over the next few years. Because of this, I still think BWX would be a good investment today.
