Nearmap share price climbs to all-time high

The Nearmap (ASX:NEA) share price has reached an all-time high today after a very strong start to 2019, spurred by unfaltering growth in the company's operations.

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Small-cap aerial imagery company Nearmap Ltd (ASX: NEA) had a massive 2018 and it's already making big gains in 2019. Shares are up 34% since the beginning of the year as the company continues to show strong growth.

Today, the Nearmap share price has climbed 3.77% to an all-time high of $2.06. The move is further evidence that investor sentiment for the stock is very positive once again after having faltered in 'red October', which was particularly harsh on tech stocks.

The share price recently saw a rally on the back of promising preliminary results for the first half of the 2019 financial year. The company saw its Annualised Contract Value (ACV) grow rapidly, increasing 42% in the 2018 calendar year.

ACV is an all-important metric for the company's subscription business model; it's an annualised measure of the revenue the company will bring in from its existing contracts in one year. Strong growth in AVC indicates that the company's operations are expanding nicely.

While Nearmap burned $10.7m in cash during FY18, the company has affirmed guidance that it expects its cash flows to break even in FY19, excluding the $70m capital raise.

Motley Fool contributor Cale Kalinowski has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Nearmap Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on 52-Week Highs

Five businessmen in suits walking up stairs in neat succession.
52-Week Highs

5 ASX 200 shares smashing new 52-week highs today

These five ASX 200 shares just broke into new multi-year and all-time highs. Here’s why.

Read more »

A mother and her young son are lying on the floor of their lounge sharing a tech device.
Technology Shares

Life360 shares are up more than 1,300% in 5 years. How does it compare to other apps?

Can Life360 compete with the likes of Facebook and Instagram?

Read more »

Emotional euphoric young woman giving high five to male partner, celebrating family achievement, getting bank loan approval, or financial or investing success.
52-Week Highs

5 ASX 200 shares hitting multi-year highs after strongly rebounding from tariff turmoil

These stocks have hit new price milestones amid a day in the green for the ASX 200.

Read more »

Woman laying with $100 notes around her, symbolising dividends.
52-Week Highs

Which ASX All Ords stock recently became a 10-bagger in 5 years?

Landing a 10-bagger is every investor's dream.

Read more »

Five happy friends enjoying a party.
52-Week Highs

5 ASX 200 shares smashing new 52-week highs today

The Trump tariff relief rally has helped send these five ASX 200 shares to new 52-week highs.

Read more »

Arrows pointing upwards with a man pointing his finger at one.
52-Week Highs

3 ASX All Ords shares at new 52-week highs this Friday

These shares are proving to be a safe harbour this Friday.

Read more »

An excited man stretches his arms out above his head as he reaches a mountain peak representing two ASX 200 shares reaching multi-year high prices today
52-Week Highs

These 4 ASX 200 shares just clocked new 52-week highs today

These shares are standing out from the crowd today.

Read more »

Ecstatic woman looking at her phone outside with her fist pumped.
52-Week Highs

8 ASX 300 shares hitting new price highs today

New share price records were set despite the broader market trading in the red.

Read more »