MP1 is a software-based elastic connectivity provider, often at the pointy end of the market, generally rallying and falling harder than the market, i.e. it’s a high Beta stock. This high-growth Australian tech stock is already making a profit, albeit small, for a $1.67 billion company: FY24 NPAT of $9.6mn, with the standouts metrics being annual recurring revenue growth of +14% and a stable gross margin of 70%.
- We like the risk/reward towards MP1 targeting a break of its 2025 high, but it’s a volatile stock and not for the fainthearted.
MM is cautiously bullish MP1 around $10.50
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