Australia's TechnologyOne extends rally to record high after profit beat, PT hikes

TECHNOLOGY ONE

21/05/2025 05:38

Updates

** Shares of enterprise software co TechnologyOne TNE.AX extend gains to a second session, up 4.2% to A$38.32

** Stock rose as much as 5.2% to a record high of A$38.67 earlier in the session

** Co reported HY pre-tax profit (PBT) of A$81.9 mln ($52.78 mln) on Tuesday, beating Visible Alpha consensus of A$77 mln

** Jefferies hikes PT for to A$44 from A$35, retains "buy"

** UBS raises PT to A$42.2 from A$33.8

** Jefferies says its new forecasts imply 17.5%, 18.2% and 22.4% PBT growth in FY25, FY26 and FY27, respectively

** Average rating of 16 analysts "hold", according to data compiled by LSEG

** Stock up 22.6% YTD

($1 = 1.5518 Australian dollars)

 (Reporting by Manasi Dasa and Sneha Kumar in Bengaluru)

 ((Manasi.DasaSundeep@thomsonreuters.com))