Highlights

  • Consensus rating of Buy from 7 analysts: 6 Buy or equivalent, 1 Hold, 0 Sell or equivalent.
  • Mean price target of A$9.72 against a share price of A$5.44 on 8 October 2026, an implied upside of 78.7%.
  • Analyst targets range from A$7.72 to A$12.08.
  • Statutory NPAT was $32.0 million, up 85.0%, and Underlying Profit after tax (UPAT) rose 18.4% to $38.8 million.

Iress (ASX:IRE) carries a consensus analyst rating of Buy. Of the 7 analyst recommendations recorded, 6 are Buy or equivalent, 1 is Hold and 0 are Sell or equivalent. The mean price target is A$9.72, with targets ranging from A$7.72 to A$12.08, against a current share price of A$5.44 (8 October 2026). Iress Limited is a Melbourne-based provider of software for the financial services industry, including Wealth Management and trading and market data.

Company name

Iress

Ticker

(ASX:IRE)

Exchange

ASX (Australian Securities Exchange)

Current share price

A$5.44

Price date

8 October 2026

Number of analysts

7

Rating consensus

Buy

Consensus price target (mean)

A$9.72

Highest target

A$12.08

Lowest target

A$7.72

Implied upside/downside to mean target

Implied upside of 78.7%

Latest developments

Iress (ASX:IRE) reported its results for the half year ended 30 June 2026 (1H26) on 17 August 2026. Statutory NPAT was $32.0 million, up 85.0%, and underlying profit after tax (UPAT) rose 18.4% to $38.8 million. Continuing Business Revenue increased 2.5% at constant currency to $250.0 million, and Recurring Revenue grew 3.4% to $237.8 million, representing 95% of Group revenue.

Continuing business Cash EBITDA increased 47.1% at constant currency to $61.1 million, with the Margin expanding more than 740 basis points to 24.5%. The business efficiency program delivered $31.5 million of annualised cost savings, which the company said is ahead of plan, with a further $6 million to $9 million expected in the second half. The company said it has moved to the next phase of its strategy, with product evolution underway, a Thoughtworks Partnership mobilised and AI embedded across product and engineering.

A fully franked Interim Dividend of 14.0 cents per share was declared, 27.3% higher than the prior corresponding period. Updated FY26 constant currency guidance is for revenue growth of 1% to 2%, reflecting lower non-recurring revenue, and Cash EBITDA growth of 21% to 26%.

Risks and what to watch

Revenue growth guidance was lowered to 1% to 2% because of softer non-recurring revenue, even as Cash EBITDA guidance was raised. Much of the profit improvement is linked to cost reductions, which are finite. Growth rates are presented on a continuing business and constant currency basis, which excludes divested operations and currency effects, and Cash EBITDA is a company-defined measure. Delivery of the next phase of the strategy depends on product development and partnership execution.

Next milestones

Items to watch include the remaining $6 million to $9 million of cost savings in the second half, delivery against updated FY26 guidance, the Thoughtworks partnership, recurring revenue growth, and the full-year 2026 result.