Hub24 Ltd (ASX: HUB) shares avoided the broad market weakness on Tuesday and charged higher.
The ASX 200 stock was up almost 9% at one stage before finishing the day 3% higher at $101.21.
Investors were buying the investment platform provider's shares after responding positively to the release of its latest quarterly update.
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Can this ASX 200 stock keep rising in 2026?
Bell Potter was impressed with the company's performance during the second quarter and remains positive on the investment opportunity here.
In response to its update, the broker said:
HUB released a solid 2Q26 update, printing the highest quarterly inflow on record, and provided similar positive comments around the pipeline. Our channel checks indicate it continues to rank first for future flow intentions.
Net inflows of $5.6bn exceeded consensus expectations of $4.7bn, reflecting solid gross inflows of $9.3bn and low outflow leakage, in what we consider to be an important quarter. Flow growth ex-transitions continue to accelerate.
Bell Potter is feeling positive on the ASX 200 tech stock's outlook, highlighting that key revenue drivers remain constructive. It adds:
Revenue drivers remain constructive, with ASX trading activity up +44% and our average FUA landing +32% 1H26 (versus +33% 1H25). We are also constructive on equity markets with average month-to-date returns of +2.0%, supportive US macro environment and a commodities boom risking some guidance parameters.
It also highlights that new features look set to strengthen its offering in the near term. Bell Potter said:
There were new features outlined that deliver further efficiencies for advisers, with a focus on developing the fresh reporting capabilities from 1Q26, and automation of transition processe[s] was expanded to better onboard and retain clients.
Time to buy
According to the note, the broker has retained its buy rating and $125.00 price target on the ASX 200 tech stock.
Based on its current share price of $101.21, this implies potential upside of 24% for investors over the next 12 months.
Commenting on its buy recommendation, the broker said:
Our Buy thesis and price target is unchanged, with the current forward multiple around average levels, factoring in FY27 visibility, leading indicators and strategic progress.
HUB is currently trading on 32x FY27 EBITDA – around medium-term averages but we see a clear pathway to achieving guidance for $148-162bn custodial FUA. Comments point to a fast start, tracking ahead on the current run-rate.
