KGN 0.00% $4.17 kogan.com ltd

I have to say that I am very impressed with the turnaround of...

  1. 320 Posts.
    lightbulb Created with Sketch. 111
    I have to say that I am very impressed with the turnaround of their EBIT and the net cash balance.
    With no external debt and a total cash position of $83m. It does not get any better.
    The cash position by itself represents some 20% of the market cap as of yesterday's closing price.
    The price action should hit the first resistance of $5.55 by the end of this month and then retest the next resistance level of $6.90 by the end of Feb after the half-year results are out.
    If the half-year result comes with a div, then it will be well received by the market, and the share price should head towards the $9 mark.
    Obviously, share price does not go in a straight line. There will be some volatility on the way up subject to market conditions. However, any share price weakness will just be a buying opportunity.
    I believe some brokers have over $10 a share as their target over the next 12-month period.
    If the current financial performance continues to the 2H of FY2024 and they pay div or issue a new share buyback, then the $10 target is achievable before the end of 2024.
    This is just my personal opinion, not financial advice
    Regards,
 
watchlist Created with Sketch. Add KGN (ASX) to my watchlist
(20min delay)
Last
$4.17
Change
0.000(0.00%)
Mkt cap ! $420.4M
Open High Low Value Volume
$4.21 $4.24 $4.12 $3.020M 723.3K

Buyers (Bids)

No. Vol. Price($)
3 5621 $4.16
 

Sellers (Offers)

Price($) Vol. No.
$4.18 4400 3
View Market Depth
Last trade - 16.10pm 28/06/2024 (20 minute delay) ?
KGN (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.