Netwealth Outlook Positive but Market Volatility to Weigh on Earnings, Says Jefferies

MT Newswires Live

Apr 17

Netwealth Group's (ASX:NWL) strong third-quarter update, ongoing demand for managed accounts and the upcoming HIN launch in July, which is expected to open a new market category, reinforce optimism about the company's forward outlook, Jefferies said in a note on Thursday.

The company posted Q3 total funds under administration of AU$125.8 billion, with net inflows of AU$4 billion offsetting market declines of AU$3.7 billion.

The investment firm trimmed its fiscal 2026 EPS estimates by 3% due to market volatility and slightly increased fiscal 2028 EPS estimates by 1%.

However, Jefferies said the company's reiteration of 2026 guidance helped ease concerns around market volatility.

Jefferies maintained a buy rating and raised its price target to AU$30.25 from AU$28.

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