WZR Charts, page-4566

except from a research report thought worth sharing.

"

	Wisr Limited (WZR)

.40

1		Rating: Buy Price Target:
2	Rating: Buy Price Target: $0.40

	Cracker 1Q21 Validates Superior Market Positioning, Operational Acceleration & Funding Strength

All 1Q21 metrics trending in the right direction across the board: better-than-expected new loan originations growth of +47% on pp, record revenue +385% on pcp, debts declining to a record low of 1.0% and customer credit quality up to record high of 732 – with more blue sky to emerge in the form of monetisation of the new secured car vehicle product in FY21. No changes to numbers, PT, risk or recommendation.

BUY with TSR of 91%. WZR remains one of our key small caps picks in 2020. It is difficult to find fault or quibble with the components of the result (all strong and trending in the right direction with, to paraphrase Radiohead, everything in its right place). The share price has, for various reasons, not mirrored this superlative operational performance – but should in time. The combination of high loan originations growth, funding capacity of $64m with strong cash balance of $32m, prime customer base (average credit score of 732 vs. industry average of 600), low bad debt defaults of 1.0% (trending lower from 3Q20 to 4Q20 to 1Q21) and low exposure to high risk sectors highlights our positive long-term investment thesis – and ability to withstand COVID-19. WZR is doing everything right and its accelerated growth trajectory should continue with a clear runway ahead. It is perfect timing for online lending in Australia. Having completed its business model transformation and recapitalisation, WZR is ideally positioned for long-term growth."


lol, good analysis but who quotes radiohead in equity research? haha