AUDINATE GROUP LIMITED (AD8)
Share Price Analysis and Chart

09/03/2026

3

Equal-weight

$3.00

32.74%

Audinate Group delivered "broad improvements" in its topline amid greater cost discipline, Morgan Stanley notes on further analysis, although this does not change the likely timing for cash breakeven.

The outlook provided appears to be slightly better in terms of higher FY26 gross profit growth, implying an acceleration in the second half, while costs appear slightly lower.

The broker awaits greater clarity on new product take up and the monetisation pathway, and until clear evidence emerges retains an Equal-weight rating. Target is reduced to $3.00 from $5.00. Industry View: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -20.00 cents.
Morgan Stanley forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -20.00 cents.

18/02/2026

1

Buy

$7.08

213.27%

Moelis contends waning market appetite for investment-led growth and technology has weighed on the Audinate Group share price, yet there is a profitable business underneath its growth ambitions.

The company, having warned previously that operating costs will be 25% higher in FY26, is now suggesting this will be more like 20%. Guidance for gross profit growth of 13-15% has been retained and this implies an acceleration in the second half.

The broker calculates the business needs to deliver 17-21% gross profit uplift in the second half to achieve guidance. 

Moelis reduces cost estimates as a result of the update, which in turn generates an upgrade to underlying EBITDA estimates. Buy rating and $7.08 target.

FORECAST
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -15.80 cents.
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -11.40 cents.