Highlights

  • Macquarie Research has issued an outperform rating on Megaport with a target price of AUD 21.70.
  • Megaport has completed its acquisition of Latitude.sh, expanding its platform capabilities.
  • The company continues to progress its Share Purchase Plan, aiming to raise up to AUD 20 million.

Megaport Limited (ASX:MP1) has received an outperform rating from Macquarie Research, accompanied by a target price of AUD 21.70. The rating arrives during a period of continued operational activity for the Network-as-a-Service provider, including an acquisition, a capital raising initiative and recent changes to its board composition.

Acquisition of Latitude.sh Completed

In November 2025, Megaport announced that it has finalised the acquisition of Latitude.sh, a Compute-as-a-Service platform engineered for automated and scalable high-performance compute workloads. The acquisition supports Megaport’s ability to offer customers an expanded infrastructure layer designed to complement its existing global platform. Latitude.sh enables customers to deploy and scale compute capacity through automated processes and a globally distributed footprint.

The company noted that the integration of Latitude.sh has been successfully completed, marking a milestone in Megaport’s ongoing expansion initiatives.

Share Purchase Plan Continues

On 5 December 2025, Megaport informed that the Share Purchase Plan (SPP), announced on 11 November 2025, remains open to eligible shareholders in Australia and New Zealand. The non-underwritten plan aims to raise up to AUD 20 million, allowing eligible participants to subscribe for up to AUD 30,000 in new shares without transaction or brokerage fees. The company has published an SPP offer booklet detailing terms, eligibility and scale-back provisions.

The SPP offer booklet was made available to eligible shareholders on 18 November 2025, and the company continues to progress the plan in line with the published timetable.

Board Appointment Adds Governance Depth

On 5 December 2025, Megaport announced the appointment of Lisa Hennessy as a Non-Executive Director, effective immediately. She will also assume the role of Chair of the Remuneration & Nomination Committee, taking over from Jay Adelson, who will remain on the committee.

Ms Hennessy brings more than three decades of experience across technology, medtech and consumer sectors, including board roles at ASX-listed Cleanspace Technology Limited and Adore Beauty Group Limited. Her previous directorships include Nitro Software Limited and Murray River Organics. She also holds an MBA from Harvard University and a Bachelor of Electrical Engineering from Purdue University.

Megaport’s board stated that her appointment concludes an extensive search aimed at maintaining a diverse and strategically aligned leadership structure to support the company’s long-term value creation.