- HUB24 serves the community of financial advisers with integrated platform and technology services to better serve their investor client base.
- The share price has been rising with minor dips since 2028.
- HUB24 controls less than 10% market share in its key target market.
HUB24 has grown both revenue and net profit in each of the last four fiscal years, with net profit after tax more than doubling between FY 2022 and FY 2023.
HUB24 Financial Performance
Source: ASX
Half Year 2024 financial results showed the company accelerating its high preforming trend, with both net profit and revenues rising 14%. The share price hit an all-time high following the release of the results.
HUB began paying dividends in 2019 and has increased dividend payments every year since. FY 2023’s dividend of $0.37 is on track for a matching performance in FY 2024, with Half Year 2024 results announcing a fully franked dividend of $0.185 per share.
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Over the past five years the share price has risen 247.6%. Year over year the share price is up 41.9%.
Source: ASX
The company’s reporting of its market share suggest ample room for growth – overall the critical Australian Investment Platform controlled 6.7% of the market as of September of 2023.
An analyst at Marcus Today has a BUY recommendation on HUB24 shares, citing “notable increases in key metrics in Half Year 2024 results coming from strong demand for HUB’s platform services, with the company’s strong adviser pipeline suggesting promising growth prospects.”
Marketscreener.com has an analyst consensus recommendation of HOLD, with one of the fourteen analysts reporting at BUY, one at OUTPERFORM, ten at HOLD, one at UNDERPERFORM, and one at SELL.
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