ASX 200 ends flat on Friday

The S&P/ASX 200 Index (ASX:XJO) ended flat on Friday. The Afterpay Ltd (ASX:APT) share price continued to rise today.

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The S&P/ASX 200 Index (ASX: XJO) was flat today, ending at 6,715 points.

Here are some of the highlights from inside and outside the ASX 200:

Objective Corporation Limited (ASX: OCL)

The Objective Corporation share price went up 4% in reaction to a profit update for the first half of FY21.

Based on management accounts produced for the six months to 31 December 2020, the company expects to report revenue growth of 40% to $46.5 million in its upcoming report. The annual recurring revenue rose by 30% to $70.1 million. It also said that its research and development investment went up 45% to $11.1 million.

Earnings before interest, tax, depreciation and amortisation (EBITDA) went up 74% to $11.8 million and net profit after tax (NPAT) grew by 70% to $7.2 million.

The company said that its cash balance was $27.7 million at 31 December 2020.

Objective Corporation's CEO, Tony Walls, commented on potential customer wins: "Engaging on some new customer opportunities proved more difficult than usual in the first half of FY21, but we expect the strong momentum demonstrated in the first half to continue for the full financial year."

Integrated Research Limited (ASX: IRI)

The Integrated Research share price went up 1% after the company gave an update about its FY21 half-year result.

The company is in the early stages of preparing its interim financial statements for the six months ending 31 December 2020. Based on internal management accounts and subject to audit review, the company anticipates both revenue and profit after tax to be at the lower end of the guidance provided.

That guidance was that revenue for the first half would be in the range of $34 million to $37 million, compared to the prior corresponding period of $53.2 million. The guidance for profit after tax is expected to be in the range of breakeven to $2 million, compared to the prior corresponding period of $11.8 million.

Integrated Research said that it had a cash balance, net of debt, at 31 December 2020 was $1.7 million. Cash receipts from customers for the period exceeded $40 million and there were no material doubtful debt exposure arising during the period.

Tyro Payments Ltd (ASX: TYR)

The Tyro share price fell almost 12% before the company went into a trading halt.

It was the target of a short attack from Viceroy Research that said that the issues Tyro is experiencing with its payment terminals is worse than what is being reported.  

Tyro is currently going through the process of trying to fix the issue by collecting the terminals from merchants, fixing them and giving them back.

The company said that Viceroy's report contained false assertions contrary to the company's recent disclosures.

Next week Tyro intends to provide the ASX with an update about the progress of its recovery plan, an update about its transaction values and a position statement in relation to the assertions, which Tyro said is false.

Afterpay Ltd (ASX: APT)

The Afterpay share price went up another 10% today to finish just over $133. It was the top performer in the ASX 200. The strength of the Affirm share price in the US has really helped push the Afterpay share price higher.

Afterpay's market capitalisation rose above the market capitalisation of Telstra Corporation Ltd (ASX: TLS) as it continued to strength.

The Afterpay share price has gone up 20.8% over the last two days.

Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Integrated Research Limited, Objective Limited, and Tyro Payments. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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