06/08/2024 09:22

HUB24 Ltd (HUB) $47.04

Platform provider HUB has advanced over 30% year-to-date, but weak markets aren't good for fees; hence, we are being a more pedantic towards ideal levels.

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25/07/2024 09:26

HUB24 Ltd (HUB) $48.41

Australian specialist investment platform provider HUB posted new all-time highs on Wednesday, almost doubling from its 2023 low. It's been a volatile month for HUB, with the stock tumbling the most in nine months two weeks ago following a Citi downgrade, but markets quickly forget when companies deliver.

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28/05/2024 09:11

HUB24 Ltd (HUB) $41.53

HUB ended the day 2.7% lower, a rare day of underperformance for this top-performing platform provider. While it’s hard to argue with the trend here, and higher prices seem likely, even after its 16% gain in 2024, a few months of consolidation feels overdue. As we’ve said in the last few notes on HUB we do believe it gets harder from here in their traditional business lines, however, there is scope for them to pivot/expand into other areas of financial management.

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03/05/2024 09:35

HUB24 Ltd (HUB) $39.33

HUB is up over 9% so far in 2024, aided by a solid 1H result earlier in the year that showed the company was enjoying higher margins. At the time we were conscious that management flagged an increase in costs with a higher headcount to be factored into FY24, making us feel the “easy money” for investors was in the rearview mirror.

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20/02/2024 16:46

HUB24 (HUB) $39.37

HUB +4.9%: a new all-time high for the investment platform today, HUB’s 1H result was better than expected thanks to higher margins. Revenue was up 14%, however this was in line with expectations of $157m, but EBITDA of $55m was ~2% ahead of consensus.

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16/01/2024 16:34

HUB24 (HUB) $35.95

HUB -2.2%%: the independent investment platform announced some impressive Funds Under Administration (FUA) growth numbers today, however the stock dropped, weighed by a soggy market. FUA inflows of $4.5b for the quarter were a record, now up to $91.2b, +25% on pcp.

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18/10/2023 09:11

HUB24 Ltd (HUB) $33.59

HUB delivered a Q1 FY24 trading update on Tuesday, which was initially greeted with enthusiasm, sending the stock to a fresh all-time high before most of the gains were surrendered as sellers surfaced into the strength: Total Funds under Administration (FUA) rose from $82.72bn to $68.35bn, up +21% year on year. 1Q Net Inflows were $2.8bn, down 6.3% year on year, with growth getting a touch harder.

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10/10/2023 09:19

HUB24 Ltd (HUB) $32.63

HUB outperformed the market, closing up +0.7%, as the stock continues to consolidate gains following the company's impressive result in late August - the wealth management platform reported stronger than expected underlying earnings while their growth in total Funds Under Administration (FUA) continued to impress,  hitting $80.3bn, up 22% YoY.

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22/08/2023 17:02

HUB24 (HUB) $31.20

HUB +11.31%: Stormed higher today after the wealth management platform reported underlying EBITDA for the full year of $102.4m versus consensus of $99.23m, however, they also increased the dividend (18.5c v 12.5c) and announced a $50m buyback which underpinned the shares.

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06/07/2023 09:01

HUB24 Ltd (HUB) $25.45

HUB fell -2.9% on Wednesday although the stock remains basically unchanged both in 2023 and for the last 2 years. We continue to expect market leadership for HUB on both net flows and platform functionality, but the market appears to be rerating the sector’s valuations.

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