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Why big-name brokers are circling HUB24 Ltd

Shares in financial services company HUB24 Ltd (ASX: HUB) have been steadily on the up in the last 12 months as the company continues to impress customers in the superannuation and financial management sectors.

Brokers have their eyes on the stock after HUB24 reported another strong quarter of inflows – $595 million for the March quarter – with $7.4 billion net funds under management and broker forecasts that June will be its strongest quarter yet.

Credit Suisse has slapped an outperform rating on HUB24 and forecast 63% compound earnings growth over the next three years with its $12.80 share price target maintained.

The earnings growth expectation is higher than Credit Suisse’s forecast for peer Netwealth Group Ltd (ASX: NWL) with Ord Minnett also backing HUB24 in the space above all others with the broker upgrading the stock to a buy with a price target of $11.85.

Software cousins – Bravura Solutions Ltd (ASX: BVS) and Xero Limited (ASX: XRO) – both booked 52-week highs this week, Bravura storming up off the back of solid customer growth in the form of long-term contracts.

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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Bravura Solutions Ltd and Xero. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.