Netwealth Bull Wary on Margin Expectations -- Market Talk

Dow Jones

04/10

0349 GMT - Netwealth's bull at Citi warns that analysts might be setting their fiscal 2026 earnings-margin expectations a bit too high. Analyst Siraj Ahmed cautions that the one negative in the Australian wealth platform's 3Q update was the potential for higher annual costs. He writes in a note that the costs are discretionary and can be managed down if necessary, but he nonetheless sees some risk to analysts' margin expectations. He raises his cost-growth forecast and expects Ebitda margin to be flat at about 50%, compared with an average analyst forecast of 52%. He maintains his buy rating on the stock after Netwealth beat his net-custodial-flow forecast by 3%. Citi lifts its target price by 3.0% to A$27.30. Shares are up 13% at A$25.47. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

April 09, 2025 23:49 ET (03:49 GMT)

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Analyst Siraj Ahmed cautions that the one negative in the Australian wealth platform's 3Q update was the potential for higher annual costs. He writes in a note that the costs are discretionary and can be managed down if necessary, but he nonetheless sees some risk to analysts' margin expectations. He raises his cost-growth forecast and expects Ebitda margin to be flat at about 50%, compared with an average analyst forecast of 52%. He maintains his buy rating on the stock after Netwealth beat his net-custodial-flow forecast by 3%. Citi lifts its target price by 3.0% to A$27.30. Shares are up 13% at A$25.47. 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","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"NWL.AU":"NETWEALTH GROUP LTD","BK7062":"资产管理与托管银行"},"translate_title":"净财富多头对利润率预期持谨慎态度——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NWL.AU":0.9},"content_text":"0349 GMT - Netwealth's bull at Citi warns that analysts might be setting their fiscal 2026 earnings-margin expectations a bit too high. Analyst Siraj Ahmed cautions that the one negative in the Australian wealth platform's 3Q update was the potential for higher annual costs. He writes in a note that the costs are discretionary and can be managed down if necessary, but he nonetheless sees some risk to analysts' margin expectations. He raises his cost-growth forecast and expects Ebitda margin to be flat at about 50%, compared with an average analyst forecast of 52%. He maintains his buy rating on the stock after Netwealth beat his net-custodial-flow forecast by 3%. 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