Cloudpoint Technology Bhd has gone up 21.9% in the past 5 days to 70 sen on Mar 12. The counter saw a whopping 97% premium over its IPO price of 38 sen.
Heightened interest in Cloudpoint is understandable given its robust growth potential. It has a strong track record with local financial institutions, a promising future in the cloud services segment. The company also has an impressive track record of delivering IT solutions to top-tier enterprise clients.
It has already started moving up the value chain, launching and providing cloud services and software applications from giants like Amazon Web Services, Microsoft Azure, Alibaba Cloud, ServiceNow, and Sunline. This has allowed Cloudpoint to offer a broader range of solutions, creating an opportunity for cross-selling to customers and enhancing their overall service delivery.
Nevertheless, there are of course risks of reliance on major customers, whereby the potential for unexpected delays in implementation and order replenishment could be a concern. However, the future appears bright for Cloudpoint, and it certainly is one of the most promising tech stocks to keep an eye on in the near future. It is expected to continue enjoying strong orderbook growth, as it is looking to secure more projects from new and existing customers across all segments.
As it is, its orderbook has jumped by over 50% to bring its total FY23 orderbook to RM60 million mainly thanks to order replenishments from its top five customers. Cloudpoint is set to further build its growth on three technology refresh contracts from its top customers, which are to be carried out in FY23-24. According to management, these projects are typically two to five times bigger than its usual contract values of RM2 million - RM5 million.
Financially, Cloudpoint’s performance has been positive. The company saw its net profit increased to RM16.2 million in the financial year ended Dec 31, 2023 from RM13.1 million in the previous year. This was on the back of improved revenue of RM110.1 million versus RM90.6 million.
However, its fourth quarter just ended registered a decline in net profit to RM5.6 million from RM7.6 million a year ago while revenue slipped to RM31 million from RM41 million. That said, the company still exudes compelling valuations, making it an attractive prospect for investors.
Chart | Stock Name | Last | Change | Volume |
---|
Created by zaclim | May 14, 2024
MN Holdings Bhd has risen 134% in the past year to close at 74 sen on May 13. With exposure in the booming data centre and gree energy play, there could be further upside for the company
Created by zaclim | May 13, 2024
Little-known MCE Holdings took the market by the storm when it announced the emergence of savvy investor as its substantial shareholder. Will this positive news help sustain its uptrend?
Created by zaclim | May 13, 2024
Fajarbaru Builder Group Bhd saw a year-high of 37 recently and should trend higher in the near term as it is a beneficiary of the improving construction sector
Created by zaclim | May 09, 2024
Econpile Holdings Bhd has been on investors’ radar as the counter leapt 131% in over a year. What is drawing investors to this loss making company?
Created by zaclim | May 08, 2024
SCGBHD is cruising ahead, hitting a year high of 60 sen recently. The company is poised to benefit from rising power infrastructure spending to cater for an expected rise in electricity consumption
Created by zaclim | May 07, 2024
SEALINK’s stock price has been consolidating within a symmetrical triangle for almost the past 7 months above SMA200 line
Created by zaclim | May 07, 2024
Naim Holdings Bhd has been lagging in share price versus its subsidies Dayang Enterprise Holdings Bhd and Perdana Petroleum Bhd. Has the time come for Naim to break new highs?
Created by zaclim | May 06, 2024
AEMULUS’s stock price rebounded from SMA200 line with higher low at RM0.320 two weeks ago and stayed at the initial stage of markup phase
Created by zaclim | May 06, 2024
Aurelius Technologies Bhd has grown in the past year in terms of share price performance. Will the recent demand pullback derails its good run?
Created by zaclim | May 03, 2024
TAS Offshore Bhd rose some 239% to close at 74 sen on May 2. News of booming opportunities helped spur the counter to register new highs. How high can it go?