Megaport Ltd

MP1: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$43.40	Ykycx	Ppyrhfztvv

Megaport: Stock Pops on Another Big Upward Revision in Guidance

Matthew Dolgin

Jul 11, 2023

Megaport’s stock skyrocketed 33% on July 11 after the company shared its new financial expectations for its fiscal 2023 fourth quarter, which it will report Aug. 22, and guidance for fiscal 2024. This marks the second enormous guidance boost in the last three months, leading to the stock more than doubling in that span. Nonetheless, we maintain that the market had become far too bearish on Megaport—which never faltered in moving rapidly toward profitability while keeping sales growth high—and we believe the stock is still undervalued, trading at a 30% discount to our AUD 13 fair value estimate.

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