2 ASX Growth Stocks You Can’t Ignore
Netwealth (ASX: NWL)
NWL closed near flat yesterday after opening down 12% – almost a carbon copy of HUB earlier in the week. Up slightly today on positive broker commentary. Volatility can’t be avoided when playing in high PE stocks.
40% profit growth and FUA up 28% were the highlights. Strong industry tailwinds are benefiting all in the wealth platform sector, with NWL’s growth nearly as good as HUB. Profit and revenue both met expectations thanks to inflows, higher trading activity and better yields on cash accounts. The only miss came from higher OpEx, up 23% YoY from investment in employees, product, security, and technology. Fundamentals remain strong, with management growing margins and reaffirming guidance. Inflows of $15.8bn are expected to offset the rise in costs.
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Goodman Group (ASX: GMG)
GMG dropped 1.4% yesterday as earnings met expectations and guidance beat but missed on the outlook. Forecast growth of 9% next year was below consensus, though seen as conservative – management has a history of upgrading as the year goes on.
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Highlights included a 42% jump in data centre work in progress, now making up 57% of the total, and positive commentary from Greg Goodman on industry conditions. The 500MW by mid-2026 target was reaffirmed. Commencements totalled $4bn last year with an average yield of 9.2%. While the overall work-in-progress figure declined 6% to $12.9bn, this is expected to rise again next year.
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