Australia's Iress slips; Morningstar sees fintech co holding ground amid AI concerns

Iress

27/04/2026 05:03

** Shares of Australian fintech co Iress IRE.AX fall as much as 1.5% to A$6.78

** Morningstar sees IRE holding its ground through cost-outs, modernising its legacy architecture via AI, and new features that defend its product proposition against gradually rising competition

** Retains fair value estimate of A$7.80 per share, says stock mildly undervalued as market prices in more earnings decline than its competitive position, investment trajectory warrant

** AI is lowering the barriers to competition in financial software, and Iress is still early in its response - Morningstar

** Stock down 19.1% YTD

 (Reporting by Anjali Singh in Bengaluru)

 ((anjali.singh2@thomsonreuters.com;))