The strong and the struggling of NZ’s listed tech
Gentrack led the pack with returns of 146% for the June financial year. (Image: Getty)
The technology sector outperformed the market on the New Zealand Exchange in the past three months, according to a recent note from Forsyth Barr.Analysts James Lindsay, Will Twiss and Kylie Mills wrote that the S&P/NZX index for information technology rose 8% compared with the S&P/NZX 50’s overall negative return of 3%.While returns were up overall, sales multiples dipped.“The median 12-month forward EV/sales [enterprise value-to-sales] multiple for NZ tech companies fell -10% over the last three months to 2.7x, in line with...
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