HUB rewarded shareholders with a great set of results on Tuesday but it took 24-hours for the market to fully digest the beat in earnings plus their significant lift in Funds Under Administration (FUA) targets – the stock had been thrown into the “naughty corner” with other platform providers who’ve struggled to contain rising operating expenses but we felt yesterday’s 9.9% pop was a fair reflection of the company’s performance.
Over the last few years we’ve seen the cream of most sectors continually outperform and we can see this being the path for HUB but MM must remain cognisant that’s it’s a high valuation growth stock that thinks nothing of correcting 30% – its been an annual event since 2019 hence we will consider taking profit into further strength but in our opinion there’s no hurry just yet, especially with our positive short-term picture for growth names.
We discussed HUB in yesterday’s Weekly Video Update – Click here to view
MM remains long & bullish HUB initially looking for a test of $30
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