S&P/ASX 200 Index (ASX: XJO) tech stock Hub24 Ltd (ASX: HUB) is enjoying a strong run today.
Shares in the fintech company closed yesterday trading for $57.41. In early afternoon trade on Thursday, shares are changing hands for $63.25 apiece, up 10.2%.
The big leap higher comes amid the broader market rally today. The ASX 200 is up 4.7% at this same time as investors celebrate the news that US President Donald Trump has paused his planned tariff increases on most nations for 90 days.
That sees the Hub24 share price up 52% in 12 months.
But despite today's big lift, shares in the ASX 200 tech stock remain down 25% from the all-time closing highs notched on 19 February.
So, with the share price well down and the company's earnings soaring, should I buy Hub24 shares today?
ASX 200 tech stock breaking records
Bell Potter Securities' Christopher Watt ran his slide rule over the ASX 200 tech stock in Monday's The Bull.
According to Watt:
This investment and superannuation platform provider delivered record net fund flows of $9.5 billion in the first half of fiscal year 2025, with custody funds under administration reaching $98.9 billion and guidance upgraded to between $123 billion and $135 billion by fiscal year 2026.
Watt added:
Underlying EBITDA [earnings before interest, taxes, depreciation and amortisation] of $77.6 million was up 41% on the prior corresponding period, highlighting cost control and platform scalability.
But he's not ready to pull the trigger on the ASX 200 tech stock just yet.
"However, platform margins compressed slightly, and technology solutions may see moderating growth in the second half," Watt said.
"While HUB remains a strong player with a high return on investment and a strong brand in the platform space, much of the upside is now priced into the share price, in our view," he said. "A hold stance reflects balanced risk/reward, pending further upside from flow momentum or margin expansion."
What's been happening with Hub24?
Hub24 released the half-year results that Watt referred to up top on 18 February.
Atop the 41% year-on-year increase in earnings, he noted the ASX 200 tech stock reported a 40% increase in underlying net profit after tax (NPAT) to $42.6 million.
This saw the board up the fully franked interim dividend by 30% to 24.0 cents per share.
"The wealth management landscape is continuing to evolve, and financial professionals are seeking solutions that enable productivity so they can empower better financial futures for their clients," Hub24 CEO Andrew Alcock said on the day.
