The Afterpay Touch Group Ltd (ASX: APT) share price is up around 7% to start the week off with a bang.
Afterpay Touch is the owner of the popular “buy now, pay later” app. As of early 2019, Afterpay had over 3.5 million registered users worldwide, making it one of Australia’s true technology success stories.
Afterpay share price hits an all-time high
The Afterpay share price hit an record $22.58 earlier in the day, sending its market capitalisation soaring above $5 billion. At the moment it’s sitting at around $5.35 billion.
2019 has been an excellent year so far for the buy now, pay later company. Since the start of the year the Afterpay share price has risen by nearly 87%.
It has been an even wilder last 12 months. A year ago the share price was $6, so it has gone up 274% in that time. But from that $6 it rose to over $19, plunged to under $11 and has since doubled to above $22.
Investors are getting very excited about the buy now, pay later company, particularly since its half year report.
If you didn’t catch that half year report, or if you don’t remember, Afterpay revealed that its total income increased by 85% to $112.3 million. Underlying sales, being the total value of sales processed through Afterpay, grew by 147% to $2.3 billion.
By the end of the 2018 calendar year, Afterpay had attracted 3.1 million active customers to its ecosystem, which was more than double what it was a year prior. At the time of the report, Afterpay said it had clocked up 3.5 million customers. You can imagine that its customer acquisitions has continued since the half year result.
It also keeps attracting more shops and merchants to its base. It had 23,200 active merchants at the end of December, up 101%, and around 25,300 as of today.
Afterpay may continue be one to watch if its US and UK expansion plans keep progressing well.
But at these lofty heights, it may be a safer investment idea to go for one of the below good value ASX growth shares.
[ls_content_block id=”14947″ para=”paragraphs”]
[ls_content_block id=”18380″ para=”paragraphs”]
