Why Megaport, Nanosonics, Telstra, and Universal Store shares are storming higher today

These shares are catching the eye on Thursday with strong gains.

| More on:
Man drawing an upward line on a bar graph symbolising a rising share price.

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) is on course to record a very disappointing decline. At the time of writing, the benchmark index is down 1.45% to 8,296.9 points.

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

Megaport Ltd (ASX: MP1)

The Megaport share price is up 20% to $11.45. Investors have been buying this network as a service provider's shares following the release of a strong half year result. Megaport reported an 18% increase in annualised recurring revenue over the prior corresponding period to $226.6 million and a 12% lift in gross profit to $74.7 million. The company also pleased the market by increasing its guidance for FY 2025. It is worth noting that Megaport is one of the most shorted ASX shares. So, it is possible that we are seeing another short squeeze taking place today.

Nanosonics Ltd (ASX: NAN)

The Nanosonics share price is up 13.5% to $3.93. This has been driven by the release of the infection prevention company's half year results. Nanosonics reported an 18% increase in total revenue to $93.6 million and the more than doubling of its operating profit before tax to $10.9 million. This strong start to FY 2025 has led to management upgrading its full year guidance. CEO Michael Kavanagh said: "This half year result represents a solid foundation to build on for the remainder of the financial year. Consequently, the range for revenue outlook for the full year has been increased from 8-12% to 11-14%."

Telstra Group Ltd (ASX: TLS)

The Telstra share price is up over 5% to $4.13. This telco giant's shares are surging after it released its half year results and revealed solid profit and dividend growth. Telstra reported underlying EBITDA growth of 6% to $4.25 billion and net profit after tax growth of 7.1% to $1.1 billion. This allowed the Telstra board to increase its fully franked interim dividend by 5.6% to 9.5 cents per share. Also getting investors excited was news that Telstra is undertaking a $750 million on-market share buyback.

Universal Store Holdings Ltd (ASX: UNI)

The Universal Store share price is up 9.5% to $9.29. This follows the release of another strong half year results from the youth fashion retailer. Universal Store reported a 16.1% increase in group sales to $183.5 million and a 16% jump in underlying net profit after tax to $23.2 million. In light of this strong form, the Universal Store board lifted its fully franked interim dividend by 33.3% to 22 cents per share.

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

Motley Fool contributor James Mickleboro has positions in Megaport and Universal Store. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Megaport and Nanosonics. The Motley Fool Australia has positions in and has recommended Nanosonics and Telstra Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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

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 »

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 »

A woman puts her hands up as she smashes and breaks through a glass ceiling.
Share Gainers

How these 5 ASX 200 stocks are smashing the benchmark this week

These fives ASX 200 stocks have made some very happy shareholders this week. Here’s how.

Read more »

A man looking at his laptop and thinking.
Share Gainers

Here are the top 10 ASX 200 shares today

The markets lost their steam this Thursday.

Read more »

Ecstatic woman looking at her phone outside with her fist pumped.
Share Gainers

Why Catapult, Hutchinson, SKS, and West African shares are pushing higher today

These shares are having a strong session despite the market weakness.

Read more »

Rising gold share price represented by a green arrow on piles of gold block.
Gold

Up 72% in 2025, why is this ASX 200 gold stock racing ahead of the benchmark again today?

Investors are bidding up this high-flying ASX 200 gold stock again on Thursday. But why?

Read more »

Businessman smiles with arms outstretched after receiving good news.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a wonderful Wednesday session for investors today.

Read more »