With the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) racing higher this week, you won't be at all surprised to learn that a number of shares have climbed to all-time highs.
Two in particular which stood out for me are listed below. Is it too late to invest?
The Altium Limited (ASX: ALU) share price climbed to a new all-time high of $10.61 on Wednesday. Investors have been fighting to get hold of the printed circuit board (PCB) design software provider's shares since the release of an impressive full-year result in August. Altium posted a full-year profit of US$28.1 million on revenue of US$110.87 million in FY 2017.
Pleasingly, management continues to believe it will grow its revenue to US$200 million by FY 2020. Although its shares appear reasonably expensive, if it delivers on its medium-term guidance then picking up shares at today's price could prove to be an absolute steal in my opinion.
The WiseTech Global Ltd (ASX: WTC) share price continued its strong run and reached a new high of $9.07 today. Like Altium, a strong full-year result has been the catalyst for this impressive gain. Last month the software-as-a-service logistics software company reported a 71% increase in statutory EBITDA to $53.9 million.
Looking ahead, in FY 2018 management expects EBITDA growth between 32% and 39%. Whilst this growth is undoubtedly strong, its shares do still look a little on the expensive side at the moment in my opinion. At 80x earnings I would suggest investors wait for a better entry point.
