Why Accent, Bank of Queensland, Freelancer, & Zip shares are pushing higher

Bank of Queensland Limited (ASX:BOQ) and Zip Co Ltd (ASX:Z1P) are two of four ASX shares pushing notably higher on Tuesday…

| More on:
ASX shares profit upgrade chart showing growth

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

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is dropping lower. At the time of writing, the benchmark index is down a disappointing 0.45% to 7,033.8 points.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are pushing higher:

Accent Group Ltd (ASX: AX1)

The Accent share price is up 3.5% to $2.54. This is despite there being no news out of the footwear retailer today. However, earlier this month analysts at Bell Potter spoke positively about the company. According to the note, its analysts have put a buy rating and $2.65 price target on Accent's shares.

Bank of Queensland Limited (ASX: BOQ)

The Bank of Queensland share price has pushed over 2% higher to $9.11. This follows the announcement of a correction to its earnings per share figures from its half year results earlier this month. In addition to this, this morning Morgan Stanley upgraded the bank's shares to an overweight rating with a $10.00 price target.

Freelancer Ltd (ASX: FLN)

The Freelancer share price has surged 6% higher to 81.5 cents. Investors have been buying the freelancing marketplace provider's shares following its first quarter update. Freelancer reported Gross Payment Volume of US$192.9 million for the quarter. This was a record quarterly high and up 39% on the prior corresponding period.

Zip Co Ltd (ASX: Z1P)

The Zip share price has risen 2% to $9.15. This morning rival Afterpay Ltd (ASX: APT) released its third quarter update and advised that it was looking into a US listing. There have been rumours swirling around that Zip was planning to do the same. Doing so could open the company up to US fund managers and give its greater access to capital markets. Investors appear to believe Zip will follow suit in the near term.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Accent Group and Freelancer Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Gainers

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

The ASX was back to the races this Tuesday.

Read more »

A woman reaches her arms to the sky as a plane flies overhead at sunset.
Travel Shares

Why the Qantas share price soared 20% in May to new all-time highs

With another stellar month in May, Qantas shares are up more than 79% in a year.

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Share Gainers

Why DroneShield, Judo, Pepper Money, and Strickland shares are surging today

These shares are having a good session on Tuesday. But why?

Read more »

Yellow rising arrow on a brick wall with a man on a ladder.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a rough start to the trading week for investors this Monday.

Read more »

Man with rocket wings which have flames coming out of them.
Share Gainers

Guess which ASX 200 stock has rocketed 86% since April?

This sky rocketing ASX 200 stock continues to defy short sellers. But how?

Read more »

Five happy young friends on the coast, dabbing and raising their arms in the air.
Share Gainers

The best 5 ASX 200 shares to buy and hold in May revealed

Can you guess which five ASX 200 shares raced ahead of the benchmark in May?

Read more »

A couple sit in front of a laptop reading ASX shares news articles and learning about ASX 200 bargain buys
Share Gainers

Why are Soul Patts shares up 9% today?

A marriage proposal has seen investors flock to this company.

Read more »

A bland looking man in a brown suit opens his jacket to reveal a red and gold superhero dollar symbol on his chest.
Share Gainers

These were the best-performing ASX All Ords shares in May

These shares caught the eye last month. What was getting investors excited?

Read more »