Shares in satellite-based communication network service provider Speedcast International Ltd (ASX: SDA) are down today – dropping 0.4% to $6.14.
But Speedcast is a fish out of water on the declines, with its share price rising 61% from just $3.80 at this time last year as the company signed new deals and booked solid gains.
Its annual report showed a 136% rise in revenue, 195% rise in EBITDA and 41% rise in NPATA – proving things are certainly going in the right direction for the stock.
UBS slapped a buy on the stock back in February, and Speedcast has well exceeded its $5.80 price target from that time managing to reduce its debt while winning new contracts – a promising formula for growth.
Other emerging tech stocks doing well include Citadel Group Ltd (ASX: CGL) which is steadily increasing its client base and expanding its operations.
Altium Limited (ASX: ALU) is also a tech stock booking continued gains, with its share price up 162% from $8.43 at this time last year to $22.14 at the time of writing.
