Morningstar sees constrained growth for Australia's Hansen Technologies; stock falls

Hansen Technologies

25/06/2025 05:21

** Hansen Technologies HSN.AX fall 1% to A$4.81

** Morningstar says growth opportunities for software services provider constrained, with slower customer renewals and muted organic growth weighing on revenue

** Adds while past revenue was supported by smart acquisitions, this growth avenue is also disappearing

** Notes co's billing software benefits from high switching costs, protecting existing revenue... but these costs limit its ability to swing customers away from competitors, limiting its growth potential

** Retains fair value estimate of A$4.2

** YTD, HSN down ~10%

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))