Australia's Hub24 hits record high after Morgan Stanley ups PT

Hub24

18/07/2025 05:31

** Shares of Hub24 HUB.AX rise as much as 3.2% to record high of A$105.68

** Morgan Stanley raises PT to A$115 from A$80 as it sees the data solutions provider offering investors years of durable growth from net revenue retention

** Says HUB offers 3 drivers of NRR, indicative of durable growth from within co's existing customer base - increased spend per user, expanding seat count and adding new products

** Earlier this week, Hub24 reported a 7% jump in Q4 platform, while total FUM as of June 30 rose 30% from previous year

** Average rating of 16 analysts rate the stock 'hold'; their median PT is A$87.40 – according to data compiled by LSEG

** For the week, stock up 11.5%, best week since late January, and has risen 52% YTD

(Reporting by Sneha Kumar in Bengaluru)

((Sneha.kumar@thomsonreuters.com;))