Macquarie rates NXT as Outperform (1) -
With strong results across the board, NextDC delivered 1H21 underlying earnings (EBITDA) of $65.7m, 10% better than Macquarie's forecast, with data centre services revenue of $121.6m, 6% above the broker’s estimates.
On the strength of that confidence, FY21 guidance was upgraded, with underlying earnings (EBITDA) of $130-133m ($125-130m prior), and data centre services revenue $246-251m ($242-250m prior).
The broker also observes S2 data centre (in Sydney's north) revenue is ramping up quickly, and on initial estimates beat its revenue/EBITDA by over 20%, with M2 broadly in line.
While it appears only around 1MW of retail was contracted in 1H21 (typically 2-3MW pa), Macquarie notes NextDC now has inventory available across all markets to drive further enterprise and network opportunities.
The broker retains an Outperform rating and target of $14.75.
Target price is $14.75 Current Price is $11.18 Difference: $3.57
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Last
$14.07 |
Change
0.030(0.21%) |
Mkt cap ! $9.010B | |||
| Open | High | Low | Value | Volume |
| $13.98 | $14.12 | $13.80 | $73.22M | 5.229M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 8053 | $14.04 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $14.07 | 5500 | 2 |
View Market Depth
| Last trade - 16.10pm 20/06/2025 (20 minute delay) ? |
| NXT (ASX) Chart |