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Tag: CRGO Stock

  • Freightos (CRGO) Stock Maintains Its Positive Momentum

    Freightos (CRGO) Stock Maintains Its Positive Momentum

    Shares of Freightos Limited (NASDAQ: CRGO) sustained the upward momentum on Tuesday, rising 2.04% to conclude at $4.00 resulting in a 5-day rise of more than 32%. The stock also boasts an impressive ST score of 50 on our screener within the Integrated Freight & Logistics industry.

    Notably, peer stocks such as ZTO and FDX hold even higher ST scores. Explore a comprehensive list of other high-performing stocks in the same industry by visiting our screener at the link. This impressive rally was driven by the company’s announcement of record quarterly transactions and the largest increase in carrier additions in its history.

    Strong Performance in Q4 2024

    For the first quarter of 2024 and the whole fiscal year, Freightos released impressive preliminary key performance indicators (KPIs). With 350,000 transactions handled throughout the quarter—a 22% increase over the same period last year—the firm accomplished its 20th straight quarter of record-breaking transactions.

    This result surpassed management’s expectations and signaled a sustained increase in network expansion and platform utilization. The company’s ability to attract both regional and niche carriers, combined with growing activity from existing users, played a significant role in this achievement.

    Expansion of Carrier Network

    In addition to the strong transaction numbers, Freightos saw substantial growth in its carrier network. In Q4 2024, CRGO added 22 new carriers, increasing the total to 67 from Q4 2023’s 45 and Q3 2024’s 55.

    With an emphasis on regional and niche air cargo carriers who cater to niche markets and developing trade routes, this represents the company’s biggest growth to date. Freightos’ dedication to broadening its product line and improving its worldwide presence is seen by this calculated growth.

    Impressive Transaction Value and Market Growth

    The value of transactions processed through Freightos, known as Gross Booking Value (GBV), reached $280 million in Q4, reflecting a 50% year-over-year increase. This performance puts CRGO on track for an annual GBV run rate of over one billion dollars, driven by robust transaction growth and sustained high market rates.

    The strong carrier additions and the 14% increase in unique buyer users to approximately 20,100 underscore the platform’s growing reach and relevance in the digital freight market.

  • Freightos (CRGO) Experiences Significant Stock Growth Ahead of Key Event

    Freightos (CRGO) Experiences Significant Stock Growth Ahead of Key Event

    Freightos Limited (NASDAQ: CRGO) experienced a significant surge in its stock price last Friday, as shares increased by 27.54%, closing at $2.13. This notable rise in CRGO stock value comes as the company prepares for an important event this week, fueling investor optimism.

    Freightos to Present at Sidoti November Virtual Investor Conference

    In a move aimed at engaging investors, Freightos (CRGO) has announced that its founder and CEO, Zvi Schreiber, will deliver a presentation at the Sidoti November Virtual Investor Conference, taking place on November 13–14, 2024. Joining Schreiber will be Chief Financial Officer Ran Shalev, who will participate in one-on-one meetings with investors. The conference will provide an opportunity for investors to gain insights into the company’s growth prospects and strategic direction.

    CRGO Partners to Enhance Air Cargo Booking

    Freightos has also revealed a significant partnership with Qantas Freight, the cargo division of Australia’s national airline. This collaboration integrates Qantas Freight into the company’s air cargo booking platform, enabling freight forwarders to more efficiently book capacity through both its WebCargo and 7LFreight by WebCargo platforms. This partnership is poised to enhance operational efficiency by providing digital solutions for booking and managing freight movements between key US and Australian cities.

    Transforming Air Cargo with Digital Solutions

    The collaboration with Qantas Freight positions Freightos at the forefront of the ongoing transformation in the air cargo industry. Digital platforms are reshaping the logistics sector, and CRGO’s integration of Qantas Freight facilitates faster, more reliable shipment management. Forwarders will benefit from real-time booking capabilities, improved visibility, and a wide range of capacity options for air and ground services, all through one consolidated platform.

    This strategic move underscores the company’s commitment to driving digitalization and efficiency in the trans-Pacific trade industry. By adding Qantas and Jetstar to its platform, Freightos (CRGO) strengthens its leadership in the air cargo booking space, now representing nearly 70% of global air cargo capacity through WebCargo.