Another day, another Zip (ASX: Z1P) share price record

The Zip share price rocketed to a new 52 week high today despite there not being any news out of the company. We take a closer look.

| More on:
group of hands all giving thumbs up gesture

Image source: Getty Images

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

The Zip Co Ltd (ASX: Z1P) share price has been volatile today as it reached a new record high. The share is currently trading at $10.57.

However, earlier in the day the Zip share price reached a record price of $11.65. This is substantially higher than the previous record of $10.79.

Why is the Zip share price rocketing

The Zip share price is rocketing higher despite no notable announcements out of the company.

Shares in the company have been sparked back into life by the announcement of the company's quarterly report. In the days following the report, the Zip share price has rocketed more than 82%.

The company reported record metrics across the board with revenue rising by 88% YoY. As a result, Zip Co reported revenue of $102 million that was driven by the company's record transaction volume. In December alone the company achieved a transaction volume of $628 million.

Moreover, the company saw its acquisition of QuadPay paying dividends as it largely drove the company's revenue increase. In the US, revenue was up an astounding 119%. It comes as Affirm Holdings Inc (NYSE: AFRM), having recently listed in the US, have seen a 40% rise in their share price over the last month.

Despite impressive transaction volume in ANZ which was up 46%, revenue growth in the area was lagging. This resulted in revenue growth only increasing by 14% for the quarter, or 43% YoY.

New Horizons

Investors have also been excited by the company's recent admission that it is pondering another listing in the US. On top of the fact that Zip management are shopping around for new investors in the country, this would bring huge amounts of capital into the company.

According to the AFR:

It is understood Zip management will spend the next few days in front of US investors, seeking to explain the company's buy now pay later payments platform and highlight its growth in the world's biggest economy, where it owns QuadPay.

American giant Wells Fargo & Co (NYSE: WFC) is helping the company with its roadshow.

Furthermore, Zip will soon have a new region to announce metrics for as Zip UK was launched in December. The company explained that the country was a strategic focus for the group and it expects the UK to helped drive growth in 2021. These results will be included from next quarter.

About the Zip share price

The Zip share price is pushing higher today again as the company continues its fantastic recent run.

The Zip share price has outpaced its ASX rival, Afterpay Ltd (ASX: APT) share price recently. Gaining 100% in the last month compared with Afterpay's 36% gain.

Zip is currently trading at a market capitalisation of $5.95 billion.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the 'five best ASX stocks' for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now...

See The 5 Stocks *Returns as of 30 April 2025

Daniel Ewing owns shares of Zip Co Ltd. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

A cute little kid in a suit pulls a shocked face as he talks on his smartphone.
Share Market News

Telstra share price hits 8-year high amid a lacklustre trading week

The ASX 200 communications services sector was the best performer last week, rising 2.96%.

Read more »

share buyers, investors, happy investors
ETFs

How I would build a $100,000 portfolio with ASX ETFs today

You don't need more than three ETFs to build a diversified portfolio...

Read more »

A young man pointing up looking amazed, indicating a surging share price movement for an ASX company
Broker Notes

These ASX 200 shares could rise 20% to 100%

Analysts are expecting these shares to deliver big returns over the next 12 months.

Read more »

Three people in a corporate office pour over a tablet, ready to invest.
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

Read more »

The silhouettes of ten people holding hands with their arms raised against the sky, as the sun rises or sets in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX shares finished the trading week on a high this Friday.

Read more »

A businessman stacks building blocks.
Technology Shares

6% gain! What's up with Block shares today?

Block shares are up more than 34% since 2 May.

Read more »

Broker looking at the share price.
Broker Notes

Brokers name 3 ASX shares to buy today

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A young man punches the air in delight as he reacts to great news on his mobile phone.
Share Gainers

Why ARB, Block, Mayne Pharma, and Paladin Energy shares are charging higher today

These shares are having a strong finish to the week. But why?

Read more »