Investors eyeing the property technology space might find themselves comparing PEXA Group Ltd (ASX: PXA) and REA Group Ltd (ASX: REA) shares. Both companies are key players behind the digital platforms transforming Australian real estate, but they approach the market in starkly different ways. Let's break down each case and see which business shines brightest based on the latest available numbers.

The case for PEXA

PEXA Group leads Australia's digital conveyancing market, enabling property settlement electronically—making transactions faster, more reliable, and less error-prone. The company's core strength lies in its world-first technology that allows almost real-time settlement and fund clearance. It earns revenue predominantly from transaction fees as lawyers, conveyancers, and banks process properties on its network. According to its company profile, PEXA is dominant in Australia and pushing into the UK and other international markets.

Looking at the fundamentals, PEXA has a market cap of $1.17 billion, placing it well below giants like REA but still substantial in the local tech sector. Its recent numbers reveal:

• P/E Ratio: 60.86 — reflecting a hefty valuation relative to reported earnings, typical for a tech platform in expansion mode.
• Earnings per share (EPS): $0.109
• Dividend yield: 0.00% — it isn't currently paying dividends, choosing instead to reinvest and grow.
• Year-to-date return: -50.6%, a dramatic drop suggesting recent heavy selling or market disappointment.

PEXA's ambition and early mover advantage can be exciting, but there's clear risk attached to momentum and profitability at this stage.

The case for REA Group

REA Group is best known as the operator of Australia's leading property portals, realestate.com.au and realcommercial.com.au. These platforms dominate online real estate advertising, making REA essential for property sellers and advertisers nationwide. The group also owns mortgage broking and property data businesses, giving it a broad footprint across digital property services in Australia and select global markets.

REA's scale is on another level:

• Market cap: $19.32 billion — this is a blue-chip business with massive reach and entrenched network effects.
• P/E ratio: 28.92, less lofty than PEXA's and reflecting far higher profit generation at this maturity stage.
• EPS: $5.106 — showing strong earnings power compared to PEXA.
• Dividend yield: 2.01% (fully franked at 100%) — with a reliable record of dividend growth, as seen in its consistent payment history.
• Year-to-date return: -17.9%, which is a notable decline but less severe than PEXA's drop.

For those seeking established profitability, scale, and regular income, REA Group clearly ticks the boxes.

Valuation comparison

With both companies trading in the property tech space, let's stack up three key metrics side-by-side:

Note: PEXA Group Ltd's reported P/E ratio may be based on a different earnings measure (e.g. underlying or forward earnings) than the EPS figure shown, which is why they may appear inconsistent.

The contrast is stark — REA Group trades on a much lower earnings multiple for the sector, pays a growing dividend, and generates stronger profits. PEXA carries a higher valuation multiple, reflecting big growth expectations rather than current earnings. For income-focused investors, REA also delivers with franked dividends.

Recent share price performance

Looking at recent share price history until 25 September 2026 — here's how the two stack up:

• PEXA: Closed at $6.64, down 2.2% on the day. Year-to-date, shares are down 50.6%.
• REA Group: Closed at $147.66, down 2.9% on the day. Year-to-date, shares are down 17.9%.
  

While both have suffered in 2026, PEXA's sell-off has been much heavier, suggesting the market's patience for its growth story is wearing thin—or that risk levels look substantially higher right now.

Which is the better buy?

If I had to choose between PEXA and REA Group based on the numbers above, my pick would be REA Group. Here's why: it's a clear industry leader with far stronger earnings, an attractive dividend that's fully franked, and more reasonable valuation for its scale and recurring profit streams. REA is down in 2026, but not nearly as battered as PEXA, whose shares have been cut in half this year.

PEXA does have an exciting platform and international ambitions, but the lack of dividend, a very high P/E ratio, and ongoing heavy share price declines make it a riskier bet. Unless I was explicitly seeking high-risk, early-stage tech exposure, I wouldn't look past REA's combination of stability, income, and dominant market share in the Australian property sector.

The post PEXA vs REA shares: Which property tech company is the better buy? appeared first on The Motley Fool Australia.

I've selected three major companies that brokers have put a buy rating on over the past week or so.

Let's see who they like.

Qantas Ltd (ASX: QAN)

The team at Morgan Stanley liked what they saw from the Qantas result and believes the national carrier can continue to perform.

They have called the pick one of their "highest conviction Australian industrials ideas", with a bullish price target to go along with it.

Why do they like the stock? In their own words:

The FY26 result reinforced our view that QAN can offset near term fuel pressure through pricing and capacity actions, while International earnings potential remains underappreciated. We see improving earnings quality, resilient demand and a clearer path to higher International margins.

Morgan Stanely said the airline was trading below the valuation level of its international peers by about 20%, despite its high returns.

The broker noted that there was some risk that jet fuel prices would remain elevated and fares would fail to offset the increase.

Morgan Stanely has a price target of $12.80 on Qantas shares.

Brambles Ltd (ASX: BXB)

UBS has had a look at information such as Nielsen data on fast-moving consumer goods sales to get a handle on the sort of demand Brambles might be enjoying.

The data is mixed, with US food and beverage sales down less than 1% from June to August, while European volumes were up 5% year on year in July.

In terms of the impact on Brambles' CHEP business, volumes were up 1% in the second half of FY26, "with -2% like-for-like volume more than offset by net new business wins''.

UBS said Brambles is currently trading at a discount to the ASX industrials, not including health and financials.

The broker's price target on Brambles is $24.50.

Pexa Group Ltd (ASX: PXA)

Property sales compliance platform Pexa is likely to be affected by the decline in property transactions resulting from the Federal Government's changes to capital gains tax and negative gearing rules.

Macquarie's recent research report on Pexa indicates that settlement activity in New South Wales and Queensland did indeed fall sharply in August compared with the same month a year ago.

The broker has not changed its price target on Pexa, however, meaning recent share price weakness theoretically means more upside for investors.

Macquarie's price target on Pexa is $13.90. Pexa is currently valued at $1.33 billion.

The post 3 ASX 200 shares tipped to return 27% to 87% appeared first on The Motley Fool Australia.

Let's take a look at three new ratings from experts this week (courtesy The Bull).

Greatland Resources Ltd (ASX: GGP)

The Greatland Resources share price rose 19.1% over the August earnings season, and is up 94% over 12 months. 

Jonathan Tacadena from MPC Markets has a buy rating on this ASX 200 gold share. 

Tacadena said:

GGP is a gold and copper producer. The company produced 329,000 ounces of gold in full year 2026, comfortably beating guidance.

All in sustaining costs were also below guidance. It held cash of $1.289 billion at June 30 and had no debt.

It has full upside exposure to the gold price via put options.

A reserve upgrade at the Telfer mine in Western Australia is also encouraging. The company is enjoying favourable momentum.

The gold price has increased 9% over the past month and 3% in the calendar year to date.

Origin Energy Ltd (ASX: ORG)

The Origin Energy share price increased 8% during August, and is down 9% over 12 months. 

Remo Greco from Sanlam Private Wealth has a hold rating on this ASX 200 utilities share. 

Greco said: 

This major electricity retailer posted a statutory profit of $1.574 billion in full year 2026, up from $1.481 billion in the prior corresponding period.

Adjusted free cash flow increased by $867 million to $2.074 billion, driven by strong cash flow from energy markets and Australia Pacific LNG.

The company is supported by a strong balance sheet, enabling it to deliver consistent returns to share holders.

The company was recently trading on an appealing dividend yield above 5 per cent.

PEXA Group Ltd (ASX: PXA)

The PEXA share price fell 1.5% during earnings season, and is down 53% over 12 months. 

Tacadena has a sell call on this ASX 200 real estate share following PEXA's FY26 report. 

He explained: 

PEXA operates a leading digital property platform and settles most transactions in Australia. It also operates in the UK.

A concern is a weaker housing market in Australia impacting PXA's performance moving forward.

In Australia, a draft report proposes about a 20 per cent reduction in PXA's regulated revenue requirement via reductions to certain transfer transaction fees over a year.

The independent Pricing and Regulatory Tribunal (IPART) in New South Wales is reviewing electronic lodgement network operator (ELNO) service fees. PEXA has submitted formal objections to the IPART draft proposal.

The shares have fallen significantly since March and still remain under pressure.

The post Buy, hold, sell: Greatland Resources, PEXA Group, Origin shares appeared first on The Motley Fool Australia.

Investors seemed to lose all of the optimism that defined the end of last week's trading, with the index opening sharply lower this morning. Although investors did have a temporary change of heart around lunchtime, sending the ASX 200 briefly back into positive territory, it wasn't to last. By the time the market closed, the index had lost 0.18% and closed at a flat 9,076 points.

This Garfield-esque start to the Australian trading week came after a similarly negative end to the American trading week on Friday night (our time).

The Dow Jones Industrial Average Index (DJX: .DJI) gave up an early lead to finish down 0.018%.

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) was more decisive, losing 0.52%.

But let's return to this week and our local markets now for a closer look at how the broader market's pessimism affected the different ASX sectors this Monday.

Winners and losers

Despite the market's overall falls, we saw a few sectors make some hay.

But first, it was gold stocks that were hit the hardest this session. The All Ordinaries Gold Index (ASX: XGD) was smashed down 4.33% by the closing bell.

Broader mining shares were also punished, with the S&P/ASX 200 Materials Index (ASX: XMJ) plunging 2.02%.

Tech stocks were also shunned. The S&P/ASX 200 Information Technology Index (ASX: XIJ) cratered 1.39% today.

Healthcare shares didn't have a healthy time either, evidenced by the S&P/ASX 200 Healthcare Index (ASX: XHJ)'s 0.61% dive.

Our final losers this Monday were consumer discretionary stocks. The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) shrank 0.37%.

Let's turn to the winners now. It was financial shares that took the glory, with the S&P/ASX 200 Financials Index (ASX: XFJ) soaring 1.14% higher.

Consumer staples stocks ran hot, too. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) bounced 0.91% higher this session.

Communications shares were also in high demand, illustrated by the S&P/ASX 200 Communication Services Index (ASX: XTJ)'s 0.78% jump.

Energy stocks found plenty of buyers as well. The S&P/ASX 200 Energy Index (ASX: XEJ) got a 0.54% bump.

Industrial shares got a reprieve as well, with the S&P/ASX 200 Industrials Index (ASX: XNJ) putting on 0.38%.

Real estate investment trusts (REITs) also got out with a win. The S&P/ASX 200 A-REIT Index (ASX: XPJ) ended up adding 0.18% to its total today.

Finally, utilities shares got over the line, as you can see by the S&P/ASX 200 Utilities Index (ASX: XUJ)'s 0.07% improvement.

Top 10 ASX 200 shares countdown

Property stock PEXA Group Ltd (ASX: PXA) was our top-performing stock on the index this Monday. Pexa shares surged 9.43% this session to close at $7.31 each. This leap higher came after Pexa reported its latest earnings, which investors clearly took a shine to.

Here's the rest of today's best:

Our top 10 shares countdown is a recurring end-of-day summary that shows which companies made big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

What did PEXA Group report?

• Group revenue rose 7% to $406.9 million (FY25: $379.5 million)
• EBITDA increased 12% to $151.7 million, with margins up 1.7 percentage points to 37.3%
• NPATA climbed 35% to $65.3 million; statutory NPAT from continuing operations improved to $19.2 million from a $65.6 million loss
• Free cashflow grew 39% to $93.5 million
• Leverage (Net debt/EBITDA) reduced to 1.0x, down from 1.8x
• No final dividend declared

What else do investors need to know?

PEXA delivered strong growth across both Australian and international operations, although its UK EBITDA remained negative as investment continued. Domestically, PEXA increased its property market coverage to all Australian states and territories, with TAS and NT onboarding during the year.

The business sharpened its strategic focus by divesting its Digital Solutions arm, strengthening the balance sheet and paying down $92.4 million in net debt. The UK business marked a major milestone by delivering NatWest's digital remortgage functionality ahead of schedule, alongside steady progress with other lenders and growing transaction volumes.

What did PEXA Group management say?

PEXA's CEO, Russell Cohen, said:

FY26 was my first full financial year as PEXA's CEO. It has been a year of intentional change for PEXA, clearing the pathway for more disciplined execution, a sharpened focus, which resulted in a strengthened financial position to enable us to continue investment in the products and services that matter most to our customers.

What's next for PEXA Group?

Looking ahead to FY27, PEXA expects challenging market conditions in Australia to impact property transaction volumes and revenue. The company is focused on strengthening its Australian Exchange, growing compliance services via PEXA Clear, piloting a capital-light model in New Zealand, and accelerating platform adoption in the UK with plans to launch Sale and Purchase for NatWest.

PEXA continues to engage with regulators over proposed changes to fee settings, advocating for outcomes that balance consumer value with ongoing investment in digital property infrastructure. Management guidance points to group revenue between $385 million and $415 million and NPAT of $5–20 million for FY27.

PEXA Group share price snapshot

The PEXA Group share price has been among the worst performers on the S&P/ASX 200 index (ASX: XJO) over the past 12 months with a decline of around 50%.

View Original Announcement

The post PEXA Group jumps to FY26 profit as revenue and EBITDA lift appeared first on The Motley Fool Australia.

Key highlights include confirmation of 4.2 million Australian Exchange transaction volumes for FY26 and expectations for a fall in volumes in FY27 due to macroeconomic conditions.

What did PEXA Group report?

• PEXA recorded 4.2 million Exchange transaction volumes in FY26, comprising 2.67 million transfers, 0.97 million refinances, and 0.55 million other transactions.
• July 2026 transfer volumes reached approximately 192,000.
• PEXA has not yet confirmed its FY26 financial results or FY27 guidance; these are due to be released on 28 August 2026.
• PEXA expects transaction volumes to decline in FY27 as a result of recent macroeconomic changes.

What else do investors need to know?

PEXA has formally lodged its submission in response to the Independent Pricing and Regulatory Tribunal (IPART)'s draft report on ELNO service fees. This response includes several independent expert reports commissioned by PEXA, offering alternative methodologies for assessing digital platform service fees and rates of return.

The outcome of the IPART review could impact how electronic lodgment service fees are set in future, with the NSW Government expected to receive the final report by the end of September 2026. Once received, the report will be referred to ARNECC, which will conduct additional consultations and determine next steps—a process that may take several months.

What's next for PEXA Group?

PEXA will release its full FY26 results and provide guidance for FY27 on 28 August 2026. Management also plans to discuss the ongoing review of ELNO service fees and other strategic priorities on its investor call. The company's volume outlook remains cautious into FY27 as it navigates macroeconomic headwinds and regulatory changes.

Longer term, PEXA continues its strategy of expanding its digital property settlement platform both domestically and in the UK, building on recent launches and capabilities.

PEXA Group share price snapshot

The PEXA Group share price has been among the worst performers on the S&P/ASX 200 index (ASX: XJO) over the past 12 months with a decline of around 50%.

View Original Announcement

The post PEXA Group updates market on FY26 volumes and responds to fee review appeared first on The Motley Fool Australia.

I've selected three new reports from Macquarie out this week, which identify stocks they think are undervalued at current levels.

Let's see who they like.

Pinnacle Investment Management Ltd (ASX: PNI)  

Pinnacle this week reported a net profit of $176.7 million, up 31% on the previous financial year, or $138 million, up 21%, if subtracting the impact of the company's acquisition of PAM.

The company declared a final dividend of 31 cents, bringing total dividends for the year to 60 cents, in line with FY25, and reported net inflows of funds under management of $33.4 billion for the year.

Pinnacle Managing Director Ian Macoun said:

We continue to build Pinnacle to deliver sustained high rates of growth for many years into the future. Our distinct business model and Three Horizons growth strategy have built a highly diversified platform across asset classes, geographies and product formats. This platform has supported strong growth to date and provides multiple pathways for further growth, including in larger international markets where we have demonstrated that the Pinnacle model can operate successfully.

Macquarie has an outperform rating on the stock, citing attractive organic growth and potential accretive M&A.

The broker has a price target of $23.95 for the stock, compared with $19.53 currently.

Pexa Ltd (ASX: PXA)

Pexa shares are down 52.3% over the past 12 months, begging the question: Is it time for a recovery?

Macquarie has done an analysis ahead of the property settlement technology company's results, and said that settlement activity in New South Wales was down sharply in July, falling 11.6% compared to the same month in 2025.

Macquarie is still forecasting that more Tier-1 lenders will take up the use of the platform however, and have left their share price target for Pexa unchanged at $14.85, compared to $7.66 currently.

Pexa is scheduled to report its full-year results on 28 August.

Light & Wonder Inc (ASX: LNW)

Light & Wonder shares are also down over the past 12 months, losing 12.8% in value.

The company recently reported that net profit had increased 26% to US$120 million, with revenue up 2% to US$828 million.

The company said:

We continue to enhance our quality of earnings through a deliberate strategy to improve revenue quality, focusing on growing recurring revenue. Gaming operations, Grover and iGaming represented the primary growth drivers, each delivering double-digit year-over-year revenue increases, supported by continued operational momentum and content strength.

Macquarie reduced its price target from $200 to $180 on the back of the results, but this is still well above the current level of $118.98.

The post Macquarie says these 3 ASX 200 stocks can return 38% to 93% appeared first on The Motley Fool Australia.

Unfortunately, not all ASX 200 shares climbed with the market. Here's why these were the worst-performing shares over the month:

Liontown Ltd (ASX: LTR)

The Liontown share price was the worst performer on the ASX 200 index with a decline of almost 43%. Part of this decline was driven by the release of the lithium miner's fourth-quarter update, which fell short of expectations. Morgans stated that "4Q26 revenue, unit costs and AISC all missed expectations, while production held broadly in line with consensus despite weaker recoveries." In addition, Liontown's FY27 guidance disappointed on cost and capex. Nevertheless, the broker still has a buy rating and $1.90 price target on Liontown's shares. This is almost double its current share price of 97 cents.

DroneShield Ltd (ASX: DRO)

The DroneShield share price was out of form again and sank 30% during July. Investors were selling the counter-drone technology company's shares following the release of a trading update. Although DroneShield reported strong revenue growth, it was comfortably below expectations. Bell Potter said: "1H26 revenue is expected to be $125.8m, up 74% YoY and CY26e revenue is expected to be in the range of $250-270m up 15-25% on CY25, 17-23% below VA consensus of $323m."

PEXA Group Ltd (ASX: PXA)

The PEXA Group share price wasn't far behind with a decline of 28%. This may have been driven by news that the independent Pricing and Regulatory Tribunal is proposing a ~20% reduction in the company's regulated revenue requirement via reductions to certain transfer transaction fees over a year. In response, Morgans downgraded the ASX 200 share to a hold rating with a heavily reduced price target of $9.35.

Iperionx Ltd (ASX: IPX)

The Iperionx share price was a poor performer and tumbled 25% in July. The titanium products manufacturer's shares were on the slide the whole month before the release of its quarterly update on 30 July. That update revealed major operational progress but further cash outflows. In response, Bell Potter retained its speculative buy rating but cut its price target to $5.60 (from $8.25). This is still significantly higher than its current share price of $3.05.

The post These were the worst-performing ASX 200 shares in July appeared first on The Motley Fool Australia.

Meanwhile, on The Bull this week, three experts have revealed sell calls on three ASX shares.

Let's hear them out.

PEXA Group Ltd (ASX: PXA)

The PEXA Group share price is $7.32, up 1.1% today and down 53% over 12 months.

PEXA is a digital property exchange business operating in Australia and the UK.

Toby Grimm from Baker Young explains his sell rating on this ASX All Ords real estate share. 

PEXA operates a leading digital property platform and settles most transactions in Australia. It also operates in the UK.

In Australia, a draft report proposes about a 20 per cent reduction in PXA's regulated revenue requirement via reductions to certain transfer transaction fees over a year.

The independent Pricing and Regulatory Tribunal (IPART) in New South Wales is reviewing electronic lodgement network operator (ELNO) service fees.

PEXA has submitted formal objections to the IPART draft proposal. We expect PXA to win some concessions, but revenues in the core division may come under pressure at a time when the housing market is materially softening.

Bapcor Ltd (ASX: BAP)

The Bapcor share price is 41 cents, up 2.5% today and down 85% over 12 months. 

Philippe Bui from Medallion Financial Group has a sell rating on Bapcor shares.

Bui commented on the ASX All Ords consumer discretionary share:

Bapcor is an aftermarket automotive parts provider in Australia and New Zealand. It operates the Autobarn, Burson and Autopro brands.

Macro headwinds for consumer discretionary products and weaker retail conditions are pressuring the business.

Bunnings, owned by Wesfarmers, is expanding into the automotive category and is an intensifying competitive threat.

The shares remain under pressure. The stock has fallen from $5.24 on July 7, 2025 to trade at 39.5 cents on July 23, 2026.

Other stocks appeal more at this stage of the cycle.

ASX Ltd (ASX: ASX)

The ASX share price is $55.13, up 1.3% today and down 21% over 12 months. 

ASX runs the Australian share market.

Michael Gable from Fairmont Equities discussed his sell call on this ASX All Ords financial share:

… a recent share price recovery has left the stock trading above consensus valuation targets.

With market volumes and corporate activity still appearing weak amid increasing technology costs, I believe the risk is to the downside.

The ASX has settled legal action with the Australian Securities and Investments Commission (ASIC).

The Federal Court ordered ASX to pay a $20.5 million penalty and $3 million in ASIC costs after ASIC alleged the ASX had made misleading statements about the progress of the CHESS replacement project.

The post 3 ASX All Ords shares to sell this week: Experts appeared first on The Motley Fool Australia.

After some initial volatility at market open this morning, the ASX 200 spent most of the session deep in red territory. A late-afternoon rally couldn't quite save the markets, and the index ended up closing 0.0045% lower at 8,840.7 points.

This sulky session for the ASX comes despite a more confident day over on the American markets last night.

The Dow Jones Industrial Average Index (DJX: .DJI) did well, rising 0.29%.

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) did even better, gaining 0.62%.

But let's return to the local markets now and check out how the different ASX sectors navigated today's lethargic trading conditions.

Winners and losers

Fitting with the market's small drop, we saw a fairly even split between winners and losers this Thursday.

Leading the latter were mining shares. The S&P/ASX 200 Materials Index (ASX: XMJ) was hit hard today, cratering 1.58%.

Energy stocks had another rough one as well, with the S&P/ASX 200 Energy Index (ASX: XEJ) plunging 1.53%.

Continuing the commodities theme, gold shares came next. The All Ordinaries Gold Index (ASX: XGD) saw its value dive 0.82%.

Consumer staples stocks were on the nose too, as you can see from the S&P/ASX 200 Consumer Staples Index (ASX: XSJ)'s 0.31% dip.

Utilities shares joined the losing team, too. The S&P/ASX 200 Utilities Index (ASX: XUJ) slid down 0.21% this session.

That's it for the losers, though, so let's get to the green sectors. Leading the winners were communications stocks, with the S&P/ASX 200 Communication Services Index (ASX: XTJ) enjoying a 1.1% surge.

Consumer discretionary shares also ran hot. The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) added 1.09% to its total this Thursday.

Financial shares proved popular as well. The S&P/ASX 200 Financials Index (ASX: XFJ) roared 0.88% higher.

Real estate investment trusts (REITs) fared half as well, evidenced by the S&P/ASX 200 A-REIT Index (ASX: XPJ)'s 0.44% bounce.

Healthcare stocks were right behind REITs. The S&P/ASX 200 Healthcare Index (ASX: XHJ) lifted 0.39% today.

Tech shares were in that ballpark as well, with the S&P/ASX 200 Information Technology Index (ASX: XIJ) advancing 0.38%.

Finally, industrial stocks had a lucky finish, illustrated by the S&P/ASX 200 Industrials Index (ASX: XNJ)'s 0.08% bump.

Top 10 ASX 200 shares countdown

This Thursday's index winner was financial stock AMP Ltd (ASX: AMP). AMP shares soared 9.83% higher today to close at $1.90 each.

This big jump followed a well-received earnings update from the company.

Here's how the other winners landed their planes: 

Our top 10 shares countdown is a recurring end-of-day summary that shows which companies made big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

Two have received hold recommendations while one has drawn a clear positive outlook. 

Here is the latest from the broker. 

ASX Ltd (ASX: ASX)

Morgans said that ASX has recently released its monthly trading activity report for June 2026. 

It was a mixed trading month overall for ASX, in our view, with higher cash markets activity (+54% volume on pcp), a downturn in raisings and stronger average daily futures/options contracts in June. Our FY27-FY28 EPS forecasts increased by ~+2% factoring in the recent trading activity. Our price target is increased to A$53.90 (from A$51.50). HOLD maintained.

ASX shares closed trading at $53.49 yesterday. 

PEXA Group Ltd (ASX: PXA)

PEXA Group has been drawing positive ratings from experts recently. 

However Morgans appears less optimistic. 

PEXA recently responded to a draft decision by the NSW pricing regulator (The Independent Pricing and Regulatory Tribunal) that would cut the fees it can charge for its dominant electronic property settlement platform by about 20% from July 2027. 

This would potentially reduce annual revenue by around $70 million.

Commenting on the release, Morgans said: 

The headline read-through from IPART's draft report on proposed pricing changes for PXA is an anticipated reduction in revenue of A$70m (~20%) in year 1. We think a 20% hit to exchange revenue was much more punitive than consensus market expectations. Applying the cut in one year, rather than phasing it in over multiple years, adds to the disappointment. Our price target is reduced to A$9.35 (from A$14.23).

We Move PXA to HOLD. Proposed outcomes here are worse than expected, and this creates significant uncertainty around PXA's future profit profile and its overall operating environment.

PEXA shares closed trading yesterday at $8.44 per share. 

Qantas Airways Ltd (ASX: QAN)

After struggling earlier this year due to global conflict and soaring oil prices, Morgans now sees a rebound in store for Qantas shares. 

The broker said Qantas's post-COVID balance sheet strengthening and cost discipline have positioned it to absorb the current fuel cost shock and consumer softness with genuine resilience. 

We forecast 2H26 PBT to be down on pcp as fuel and economic conditions bite, with FY27 forecast to deliver a moderate uplift. We view FY27 as a transition year for Qantas with higher growth expected from FY28 onwards as oil prices, refining margins and demand normalise. Structural growth drivers (fleet renewal, Project Sunrise, Loyalty scaling toward FY30 target) remain intact.

Morgans has initiated coverage on Qantas shares with an accumulate rating and $11.50 price target. 

Qantas shares closed at $10.60 yesterday. 

The post Buy, hold or sell, PEXA, ASX and Qantas shares appeared first on The Motley Fool Australia.

However, that isn't always the case. 

Occasionally, after heavy sell-offs, these quality companies can present significant upside. 

Right now, two that fit that criteria are PEXA Group Ltd (ASX: PXA) and Netwealth Group Ltd (ASX: NWL). 

Both ASX 200 stocks have fallen significantly over the last 12 months and are now drawing very positive ratings from brokers. 

Experts are tipping these ASX 200 shares to rebound more than 100% in the next year. 

Here's what brokers are saying. 

PEXA Group Ltd (ASX: PXA)

PEXA provides a digital conveyancing platform for real estate settlements in Australia. The company touts itself as offering world-first technology that facilitates near real-time tracking of settlements and faster clearance of funds.

The company derives its revenue by charging fees to conduct property transactions over its network. Its digital process is recognised in the industry as speeding settlements, reducing the risk of manual errors, and alleviating settlement delays.

Over the past 12 months, its share price has fallen almost 32%. 

It closed trading yesterday at approximately $8.73 per share. 

However a new note out of the team at Macquarie indicates now could be the time for savvy investors to buy in at a bargain price. 

The broker said property settlements in New South Wales rose 3.1% in June from the corresponding period a year earlier, rebounding after a soft May.

Macquarie lifted its price target on the company to $19.30 from $19.05. 

From yesterday's closing price, this indicates an upside potential of 121%. 

Netwealth Group Ltd (ASX: NWL)

Netwealth Group is another ASX 200 stock investors should be monitoring. It is a financial services and technology company that provides a wide range of products and services to the Australian financial investment industry, including cloud-based investment administration software-as-a-service (SaaS), a retail superannuation fund, and an administration business.

In the last 12 months, this ASX 200 stock has fallen 34%. 

It closed trading yesterday at $22.89 per share. 

However, the team at Bell Potter is optimistic this will rise in the next 12 months. 

The broker has retained its buy rating and $30.00 price target on Netwealth's shares. 

This indicates 31% upside potential for this ASX 200 stock. 

Bell Potter said this ASX 200 stock is well positioned ahead of its 16 July trading update, with the June quarter's strong rebound in global equity markets expected to drive a material uplift in funds under administration through positive market movements. 

The broker said Netwealth offers the strongest and most direct leverage to rising markets among the platform providers it covers, reinforcing its positive view on the stock.

The post 2 ASX 200 stocks that could rise 31% and 121% appeared first on The Motley Fool Australia.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

I've had a look through the broker reports that came out this week and have selected three ASX 200 companies that the analyst team at Macquarie thinks will do well going forward. 

Let's see what they're saying.

Santos Ltd (ASX: STO)

This oil and gas major recently announced it had hit continuous production at its Pikka oil project in Alaska, which was a major milestone for the company. 

The project is now producing about 20,000 barrels of oil per day, which will ramp up to 80,000 during the third quarter of 2026.

Santos Managing Director Kevin Gallagher said regarding the project:

Pikka is a high-quality, low-cost oil development with strong economics and long reserves life benefiting not only Santos and its joint venture partner Repsol, but also key stakeholders, including the State of Alaska and Alaska Native Corporations. The project is set to generate robust cash flows and support strong shareholder returns over the coming years.

Macquarie said in this week's note to clients that Santos had "solid sequential growth" in its second-quarter production. 

They added:

Currently, we view STO as tracking to the lower end of its CY26 guidance range, due to the longer asset commissioning/ramp times than expected when the guide was set.

They also added that due to relative share price weakness, Santos may yet again be in the sights of acquirers.

Macquarie has a price target of $9 on Santos shares compared to $7.07 at the time of writing.  

Pexa Ltd (ASX: PXA)

Shares in this property settlements technology company are down about 16% over a 12-month period, but the Macquarie team believes there is significant upside.

Macquarie said property settlements in New South Wales improved by 3.1% in June compared with the previous corresponding period, after a weak May.

Macquarie boosted its price target on the company to $19.30 from $19.05, compared with $10.87 at the time of writing.

The broker added, "formal commitment from additional Tier-1 lenders is likely to incentivise the other Tier-1 lenders to onboard with PXA quickly, driving rapid market share gains''.  

Aristocrat Leisure Ltd (ASX: ALL)

A recent investor day from this company "illustrated Aristocrat's dominant cross-channel position, and enterprise-wide approach to game development, which improves commercialisation of its market leading content''.

Macquarie said it saw market-share opportunities for Aristocrat in land-based gaming, but was more wary of the company's Product Madness mobile gaming division. 

The broker said Aristocrat was well-placed to deliver 10% to 15% earnings per share growth.

They also said the company would benefit from AI, with the benefits including "creativity enhancements, improved velocity to market, and advancing data analytics''.

Macquarie has a price target of $65 on Aristocrat shares compared to $61.38 at the time of writing.  

The post Three ASX 200 companies Macquarie says are a buy right now appeared first on The Motley Fool Australia.

What did PEXA Group report?

• IPART draft report proposes reducing PEXA Exchange's regulated revenue requirement by about 20%.
• This equates to an estimated $70 million reduction in revenue for PEXA.
• The draft report recommends fee reductions over one year, but PEXA is advocating for a four-year phase-in.
• No immediate changes to PEXA's service fees; current arrangements remain in place for FY27.
• Potential changes would commence from 1 July 2027, spanning through FY31.

What else do investors need to know?

PEXA stated that the proposed changes are still at a draft stage and remain open to public consultation. The final IPART recommendations will be submitted to the Australian Registrars' National Electronic Conveyancing Council (ARNECC) after this process. Importantly for investors, any changes to regulated Electronic Lodgement Network Operator (ELNO) service fees wouldn't start until FY28. PEXA has highlighted the importance of phasing any reduction to allow the business time to adjust and maintain stability. An investor briefing will be held today at 9:30am (AEST), offering more detail on PEXA's response and future plans.

What's next for PEXA Group?

PEXA will take part in the public consultation process, including a scheduled public hearing on 21 July 2026 and the submission of its response before 14 August 2026. The Group will continue engaging with stakeholders and IPART to shape the final outcome of the fee review. In the meantime, PEXA is focused on advocating for a more gradual introduction of any price changes and remains committed to supporting its customers and the property settlement industry.

PEXA Group share price snapshot

Over the past 12 months, PEXA shares have declined 15%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 2% over the same period.

View Original Announcement

The post PEXA Group responds to IPART draft service fee review appeared first on The Motley Fool Australia.

After all, if you own shares that are likely to fall in value, your portfolio returns could suffer.

With that in mind, let's look at three ASX shares that analysts have named as sells this week, courtesy of The Bull. Here's what they are bearish on:

Lotus Resources Ltd (ASX: LOT)

EnviroInvest has named uranium producer Lotus Resources as a sell this week.

It was disappointed with the company's quarterly update, which revealed that it is facing several operational challenges. It commented:

This uranium producer is advancing the Kayelekera mine in Malawi and the Letlhakane project in Botswana. Uranium plays an important role in reducing global emissions and it's encouraging the Kayelekera mine is moving towards steady-state production. However, the latest quarterly report highlighted several operational challenges, including lower-than-expected recoveries, re-agent shortages and the withdrawal of previously reported grade and recovery figures while reconciliation processes are reviewed.

The company remains well funded and believes these issues are manageable. Even so, in our view, operational uncertainty during a critical production ramp-up phase increases risk and warrants a more cautious approach.

Nine Entertainment Co Holdings Ltd (ASX: NEC)

The team at DP Wealth Advisory has named entertainment company Nine Entertainment as a sell this week.

It feels that higher interest rates in a slowing economy make for a challenging environment. It explains:

This TV, newspaper publishing and streaming company has restructured its asset portfolio. It completed the sale of Nine Radio on April 30 and acquired QMS Media on March 31. The prospect of higher interest rates in a slowing economy present challenges, making it difficult to identify sufficient catalysts for meaningful growth.

In our view, there remains a structural shift away from free-to-air television towards streaming services and video on demand, but this is only partially addressed through NEC's 9Now and Stan platforms in a fiercely competitive environment.

PEXA Group Ltd (ASX: PXA)

DP Wealth Advisory has also named property settlements technology company PEXA as a sell this week.

It believes the proposed changes to capital gains tax and negative gearing could have a negative impact on the property market. It said:

PEXA is a digital property exchange business operating in Australia and more recently the UK. Australian property transaction volumes grew by 7 per cent in the third quarter of 2026, but moderated in the UK from the first half. In our view, recent proposed changes to capital gains tax and negative gearing are likely to have a cooling impact on the Australian property market. Investors may want to consider cashing in some gains and see what unfolds in the Australian and UK property markets.

The post Experts name 3 ASX shares to sell this week appeared first on The Motley Fool Australia.

Among the 11 market sectors, energy is in the lead, recovering 0.8% after yesterday's thrashing on news of a US-Iran peace deal.

The consumer discretionary sector is the laggard, down 1.5% today, giving back some of last week's big gains.

Let's take a look at some new ratings on three ASX shares.

GQG Partners Ltd (ASX: GQG)

The GQG Partners share price is $1.43, down 0.7% today and down 19% in the calendar year to date (YTD). 

Morgans has reiterated its accumulate rating on this ASX financial share. 

The broker said: 

GQG has provided a May FUM update. Overall, monthly outflows appear to be stabilising in the -A$1.5bn to -A$2.0bn range, although investment performance remains highly volatile.

While FUM is effectively flat calendar year-to-date, with outflows offset by positive market movements, we acknowledge it will be difficult for GQG to re-rate until the current outflow cycle ends.

While the near-term operating environment remains difficult, we continue to see long-term value in the GQG franchise, trading at ~9x FY1 PE with a ~10% dividend yield.

Morgans reduced its 12-month price target from $1.92 to $1.64.

This implies a potential 15% upside from here.

Domino's Pizza Enterprises Ltd (ASX: DMP)

The Domino's Pizza share price is $15.89, down 0.5% today and down 27% YTD. 

Morgans has downgraded its rating on this ASX consumer discretionary share to hold.

The broker said: 

The trading environment for DMP has become more challenging than previously assumed, and we have updated our forecasts to reflect a weaker SSS (same-store-sales) outlook across all three regions, compounding cost pressures on ANZ franchisee economics, and a more adverse FX environment in Japan.

The earnings recovery, albeit modest, remains on track but it is entirely cost-driven; there is no volume improvement embedded in our numbers until outer years.

We move to a HOLD rating until there is evidence of further cost management and SSS recovery.

The broker reduced its price target from $25 to $17.60.

This suggests 10% capital growth ahead.

Domino's Pizza is currently one of the most shorted shares on the ASX.

PEXA Group Ltd (ASX: PXA)

The PEXA Group share price is $10.39, down 1.6% today and down 22% YTD. 

PEXA is a digital property exchange business operating in Australia and, more recently, the UK.

Andrew Wielandt from DP Wealth Advisory has a sell rating on this ASX real estate share. 

Wielandt said (courtesy The Bull):

Australian property transaction volumes grew by 7 per cent in the third quarter of 2026, but moderated in the UK from the first half.

In our view, recent proposed changes to capital gains tax and negative gearing are likely to have a cooling impact on the Australian property market.

Investors may want to consider cashing in some gains and see what unfolds in the Australian and UK property markets.

The post Buy, hold, sell: PEXA Group, Domino's Pizza, GQG Partners shares appeared first on The Motley Fool Australia.

I've sifted through the analyst reports released this week and zeroed in on two from Macquarie that have flagged companies they think could notch outsized gains.

Let's have a look at the companies they like.

Pexa Group Ltd (ASX: PXA)

Shares in this property settlement technology firm have been lacklustre over the past 12 months, returning a negative 16.6% over the period.

This is despite the company recently delivering what it called a "strong" third-quarter performance and reaffirming its FY26 guidance.

Total transaction volumes processed by the Pexa Exchange were 935,000 in the third quarter, up 7.3% from the previous corresponding period, the company said.

Pexa Chief Executive Officer Russell Cohen said regarding the third-quarter results:

We delivered strong performance in the third quarter of FY26 across both Australia and the UK. In Australia, property transaction volumes remained resilient, growing 7% versus the prior year despite market uncertainty and rising interest rates. UK market growth moderated from the first half, with macroeconomic uncertainty impacting volumes in the quarter. Another quarter of robust operational performance and disciplined cost management has positioned us to deliver performance towards the top end of our FY26 NPAT guidance range.

Macquarie said in its research note on Pexa that formal commitments from additional Tier 1 lenders to use the platform would lead to other Tier 1 lenders to "onboard quickly, driving rapid market share gains".

Macquarie has a price target of $19.05 on Pexa shares, compared to $10.53 currently.

Ebos Group Ltd (ASX: EBO)

Ebos Group shares are down slightly more than 50% over the past 12 months; however, the Macquarie team believes the company is well-placed for share price gains.

The company is also paying a dividend yield of 5.9% this year, with that figure expected to increase to 6.9% in 2028.

EBOS in April downgraded its FY26 underlying EBITDA guidance to $610 to $620 million, down from a previous range of $615 to $635 million, due to higher fuel and energy costs.

Macquarie said on the positive side of the ledger, a new First Pharmaceutical Wholesaler Agreement has been struck with the Federal Government, which will benefit EBOS' Symbion division.

Macquarie has a price target of NZ$36.44 on the stock compared with NZ$19.38 at the time of writing.

The post Macquarie names 2 ASX shares that could jump more than 80% appeared first on The Motley Fool Australia.

At its core, value investing involves identifying companies whose shares are trading below what they are actually worth. 

This is based on their underlying financial performance, assets, and long-term earning potential.

Value investing usually targets mature, blue-chip stocks rather than small-caps. 

With that in mind, here are three ASX 200 stocks that could fall into this category. 

PEXA Group Ltd (ASX: PXA)

PEXA provides a digital conveyancing platform for real estate settlements in Australia. The company touts itself as offering world-first technology that facilitates near real-time tracking of settlements and faster clearance of funds.

This ASX 200 stock has struggled in 2026, falling 20% in that span. 

However analysis from brokers and experts indicates this quality company has likely been oversold. 

Despite falling significantly, its fundamentals still look strong. 

In its most recent 3Q26 results, the company posted steady growth in transaction volume and national market penetration. 

Looking ahead, it also reaffirmed NPAT guidance for FY26 at the top end of the $15m–$25m range.

Following these results, the team at Ord Minnett placed a buy rating and $20.00 price target on this ASX 200 stock. 

Ord Minnett was pleased with the ongoing momentum in Australian property transaction volumes. 

At the time of writing, PEXA shares are trading for around $10.70, indicating a potential 87% upside. 

Guzman Y Gomez Ltd (ASX: GYG)

It has been a volatile year for Guzman Y Gomez shares. 

The fast-casual Mexican food chain saw its share price fall 25% to start the year, before soaring last week on the back of news it had withdrawn from the US market. 

Investors apparently saw this move as a disciplined one from management, as the company refocussed its efforts to domestic growth. 

At the time of writing, GYG shares remain down 37% over the last year, and still firmly sit in undervalued territory according to experts. 

Morgans has put a buy rating and $29.40 price target on this ASX 200 stock, indicating an upside potential of 52% from current levels. 

Life360 Inc (ASX: 360)

Life360 is a United States-based software development company. The company's core product is a private family and friends social networking app that allows users to communicate and share their locations.

It was a stock market darling in 2025, but has since tumbled 42% year to date. 

Despite this fall, Bell Potter believes the ASX 200 company has a healthy base of paid subscribers, and is strategically implementing AI into its model. 

The broker has a recent price target of $33 on this ASX 200 stock, indicating an upside potential of 74%. 

The post 3 highly undervalued ASX 200 stocks to target in June with up to 87% upside appeared first on The Motley Fool Australia.

In afternoon trade, the ASX 200 tech share is down 6% to $10.76.

While this is disappointing for shareholders, it could have created a buying opportunity for the rest of us.

That's the view of analysts at Ord Minnett, which see significant value in the property settlement technology company's shares.

What is the broker saying about this ASX 200 tech share?

Ord Minnett has been pleased with the company's performance in FY 2026, highlighting that a recent trading update revealed ongoing momentum in Australian property transaction volumes. It said:

Pexa Group reiterated its FY26 guidance in a strong March-quarter trading update that highlighted ongoing momentum in Australian property transaction volumes. Domestic volumes are tracking well ahead of internal expectations, with total transactions up 7.3% year on year (YoY). This compares with prior assumptions for a modest decline in second-half volumes, and marks a robust start to the second half of FY26. ‍

The strength was evident across key transaction categories, including transfers, refinances and other transactions, all recording solid year-on-year growth. National market penetration remained stable at around 90%, consistent with recent periods. Operationally, the Australian business continues to perform well, supporting confidence around earnings delivery in the near term.

However, the broker does concede that there are emerging risks that investors need to be aware of. It adds:

That said, there are emerging risks to fourth-quarter activity, including consecutive interest rate increases, softer auction clearance rates and the potential for tax reform affecting investment properties.

Big potential returns

According to the note, the broker has a buy rating and $20.00 price target on its shares.

Based on its current share price, this implies potential upside of approximately 85% for investors over the next 12 months.

Commenting on its buy recommendation, Ord Minnett said:

The UK business showed mixed trends, although currency movements provided a short-term tailwind by reducing losses in the segment. Remortgage instruction volumes were strong as borrowers moved to lock in fixed rates ahead of anticipated interest rate rises, although some market share softness was evident. Importantly, many of these instructions are expected to convert to completions in the first quarter of FY27, providing some forward earnings support.

Despite these positives, the review of integrated property accounting service prices by the NSW Independent Pricing and Regulatory Tribunal (IPART) remains a key near-term overhang for investors, with a final report not due until September. Resolution of the pricing review is likely to be the catalyst required to unlock investor confidence in Pexa's prospects and valuation upside. We maintain our Buy recommendation and target price of $20.00.

The post Ord Minnett says this ASX 200 tech share could rise 85% appeared first on The Motley Fool Australia.