HIPAGES GROUP HOLDINGS LIMITED (HPG)
Share Price Analysis and Chart

09/04/2026

3

Equal-weight

$0.78

5.41%

Morgan Stanley has lowered price targets by around -20% on average across its Australian software and internet coverage. Near-term EPS estimate cuts are relatively modest but more meaningful over the longer-term.

Changes reflect the rapid impact of AI models and coding tools in compressing development timelines for competing software, the analysts explain.

Commentary notes all is not lost, with new opportunities emerging through additional products and revenue streams. However, it's noted companies will need to pivot and accelerate AI adoption to capture this potential.

Further, recent share price sell-offs are seen as largely indiscriminate and fail to reflect the relative competitive positioning of individual  software and internet stocks.

The broker's highest conviction Overweight positions within the sector are the internet marketplaces REA Group and CAR Group, alongside software names WiseTech Global, Xero and TechnologyOne.

Among smaller software names, Hansen Technologies and Catapult Sports are preferred. 

The Equal-weight rating for hipages Group is maintained. Target is reduced to 78c from $1.00. Industry View: Attractive.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.70 cents.
Morgan Stanley forecasts a full year FY27 dividend of 0.00 cents and EPS of 4.60 cents.

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05/05/2026

1

Buy

$1.75

136.49%

hipages Group remains a Buy for Canaccord Genuity with an unchanged $1.75 target price following what has been perceived as a positive investor day update.

Management maintained FY26 revenue guidance between $90m and $91m and reiterated a long-term Cash EBIT margin target of 30%.

The broker observed usage of job management features surged to 21% of subscription tradies in March 2026, helping drive a 7.5ppt increase in retention rates.

Strategic progress includes the 51% acquisition of VIZ Insurance and the announcement of a 10% on-market share buy-back.

Integration of AI via a ChatGPT-powered assistant has improved lead conversion to 46% for tradies, reinforcing the platform's transition to a comprehensive service provider, the report concludes.