ASX All Ords stock CountPlus (ASX: CUP) is outpacing the All Ordinaries Index (ASX: XAO) again today.
In afternoon trade on Tuesday, shares in the integrated accounting and wealth services provider are changing hands for $1.08 apiece, up 0.5%.
The All Ords, on the other hand, is down 1.5% at this same time.
Taking a step back, the CountPlus share price has surged 56.5% since the recent 7 April closing low. Sweetening those returns, the ASX All Ords stock also trades on a 4.3% fully franked trailing dividend yield.
While those gains have come and gone, the analysts at Canaccord Genuity forecast another year of outperformance ahead.
Here's why.
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ASX All Ords stock on the growth path
CountPlus held its annual general meeting (AGM) on 10 November.
CEO Hugh Humphrey noted that the ASX All Ords stock had more than $5.1 billion of funds under management (FUM) within its Count Investment Solutions as at 1 October.
And he used the occasion to highlight the company's FY 2025 growth successes.
Core metrics included a 67% increase in underlying earnings before interest, taxes, depreciation and amortisation (EBITA) growth to $27.7 million. And underlying net profit after tax (NPAT) attributable to Count shareholders was up 89% year on year to $10.9 million.
Looking ahead, Humphrey noted, "Our Q1 FY2026 trading update showed continued momentum, with unaudited revenue of $42.3 million (up +12.5% on Q1 FY2025) and unaudited underlying EBITA of $7.6 million (up +12.7% on Q1 FY2025)."
Broker tip 25% upside for CountPlus shares
Having reviewed the first-quarter (Q1 FY 2026) update from the ASX All Ords stock, Canaccord noted:
In our view, the 1Q26 trading update reflects continued solid operating momentum and underlying performance for the business. We believe we are yet to see the full effect of the flywheel providing uplift on cross-sell between (and within divisions).
Whilst we believe there is some benefit from the flywheel already, we do not believe it is close to its capacity and expect to see further improvement over the next 18 months.
In maintaining its buy rating on CountPlus, the broker said:
In our view, CUP remains a compelling investment opportunity with solid organic growth likely to continue for several years with the prospect of slightly higher than current rates as the 'flywheel' of business improvement speeds up.
That organic growth backdrop is coupled with significant M&A opportunity, and we believe a strong platform to successfully evaluate and then integrate prospective acquisitions.
Canaccord has a 12-month price target of $1.35 on CountPlus shares. That represents a potential upside of 25% for the ASX All Ords stock. And that's not including those upcoming dividends.
