Financial News, Analysis and Data, FNArena

FNArena

Financial News, Analysis and Data

Online financial media company focused on Australian equities, with a global perspective

Equity Bottom-Up

<ul><li>Shares in TechnologyOne reacted negatively on the release of a record FY25 performance, as not all metrics met elevated expectations as as the global technology sector is de-rated.</li><li> -TechnologyOne delivers record FY25 metrics -Profit exceeds guidance, strong UK growth -Market concerns on softer than expected ARR and NRR -Global de-rating for the sector equally impacts on updated valuations/price targets</li></ul>

Shares in TechnologyOne reacted negatively on the release of a record FY25 performance, as not all metrics met elevated expectations as as the global technology sector is de-rated. -TechnologyOne delivers record FY25 metrics -Profit exceeds guidance, strong UK growth -Market concerns on softer than expected ARR and NRR -Global de-rating for the sector equally impacts on updated valuations/price targets

Technology One Ltd - Outlook Intact Post Tech1's FY25 Punishment

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Nov 14th (reported today). The aggregated short interest was USD27.1bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Northern Star Resources, Aristocrat Leisure, Sonic Healthcare, Super Retail, DroneShield.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Nov 14th (reported today). The aggregated short interest was USD27.1bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Northern Star Resources, Aristocrat Leisure, Sonic Healthcare, Super Retail, DroneShield.


ASX Short Interest Weekly (Nov 14th): Northern Star Resources, Aristocrat Leisure, Sonic Healthcare

New Zealand Professional Investment Services Firm, Forsyth Barr

Forsyth Barr

New Zealand Professional Investment Services Firm

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

<ul><li>PaySauce’s (PYS) largely pre-released 1H26 showed progress on the controllables, but slowing NZ growth ahead of its pending launch into Australia.</li><li>The mix of revenues shifted toward processing fees as interest income continued to decline, reflecting ongoing OCR cuts.</li><li>The Australian commercial launch in February 2026 will be of key interest at FY26.</li></ul>

PaySauce’s (PYS) largely pre-released 1H26 showed progress on the controllables, but slowing NZ growth ahead of its pending launch into Australia.The mix of revenues shifted toward processing fees as interest income continued to decline, reflecting ongoing OCR cuts.The Australian commercial launch in February 2026 will be of key interest at FY26.

PaySauce Fees Feed the Sauce—Rates Not So Tasty

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

<ul>
<li>BILL Holdings shares have bottomed out near $40 per share after Starboard Value and Elliott Management built large stakes in the American SMB back-office pioneer.</li>
<li>BILL Holding shares significantly underperformed in 2025 with shares down ~44% over the year versus a 21% gain on the Nasdaq.</li>
<li>I see further room for upside on potential launching new intelligent AI agents, partnerships with software providers, disciplined expense management and operating efficiency.</li>
</ul>


BILL Holdings shares have bottomed out near $40 per share after Starboard Value and Elliott Management built large stakes in the American SMB back-office pioneer.
BILL Holding shares significantly underperformed in 2025 with shares down ~44% over the year versus a 21% gain on the Nasdaq.
I see further room for upside on potential launching new intelligent AI agents, partnerships with software providers, disciplined expense management and operating efficiency.


2024 High Conviction Update: BILL Holdings, Starboard Value and Elliott Move In

Derivatives and Quantitative Strategist

Gaudenz Schneider

<ul>
<li>Six Australian stock pairs have triggered new mean-reversion trade signals, with price ratios deviating more than two standard deviations from their one-year averages.</li>
<li>Upcoming earnings announcements could add volatility and shape short-term trade outcomes.</li>
<li>Essential for quantitative traders seeking mean-reversion opportunities, outlining opportunities and key risk considerations.</li>
</ul>


Six Australian stock pairs have triggered new mean-reversion trade signals, with price ratios deviating more than two standard deviations from their one-year averages.
Upcoming earnings announcements could add volatility and shape short-term trade outcomes.
Essential for quantitative traders seeking mean-reversion opportunities, outlining opportunities and key risk considerations.


Six Fresh Relative Value Opportunities in Australia Signal New Stat Arb Trades

New Zealand

Xero Limited offers an online accounting system.  The software features bank transaction importing, a cashbook, a general ledger, invoicing, accounts receivable, accounts payable, financial reporting, and management of expense claims.

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Xero Ltd (XRO AU)

Technology One Ltd - Outlook Intact Post Tech1's FY25 Punishment

Shares in TechnologyOne reacted negatively on the release of a record FY25 performance, as not all metrics met elevated expectations as as the...

FNArena

ASX Short Interest Weekly (Nov 14th): Northern Star Resources, Aristocrat Leisure, Sonic Healthcare

We analyzed ASX short interest report for the past week and highlight short interest changes in Northern Star Resources, Aristocrat Leisure, Sonic...

Ke Yan, CFA, FRM

PaySauce Fees Feed the Sauce—Rates Not So Tasty

PaySauce’s (PYS) largely pre-released 1H26 showed progress on the controllables, but slowing NZ growth ahead of its pending launch into...

Forsyth Barr

2024 High Conviction Update: BILL Holdings, Starboard Value and Elliott Move In

BILL Holdings shares have bottomed out near $40/share. The activist investor Starboard Value and hedge fund Elliott Management move in: a double...

Andrei Zakharov

Six Fresh Relative Value Opportunities in Australia Signal New Stat Arb Trades

Pair trade opportunities arise across top ASX names such as CBA, NAB, Westpac, JB Hi-Fi and Xero as price ratios deviate.

Gaudenz Schneider

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Technology One Ltd - Outlook Intact Post Tech1's FY25 Punishment

Shares in TechnologyOne reacted negatively on the release of a record FY25 performance, as not all metrics met elevated expectations as as the...

FNArena

ASX Short Interest Weekly (Nov 14th): Northern Star Resources, Aristocrat Leisure, Sonic Healthcare

We analyzed ASX short interest report for the past week and highlight short interest changes in Northern Star Resources, Aristocrat Leisure, Sonic...

Ke Yan, CFA, FRM

PaySauce Fees Feed the Sauce—Rates Not So Tasty

PaySauce’s (PYS) largely pre-released 1H26 showed progress on the controllables, but slowing NZ growth ahead of its pending launch into...

Forsyth Barr

2024 High Conviction Update: BILL Holdings, Starboard Value and Elliott Move In

​BILL Holdings shares have bottomed out near $40/share. The activist investor Starboard Value and hedge fund Elliott Management move in: a double...

Andrei Zakharov

Six Fresh Relative Value Opportunities in Australia Signal New Stat Arb Trades

Pair trade opportunities arise across top ASX names such as CBA, NAB, Westpac, JB Hi-Fi and Xero as price ratios deviate.

Gaudenz Schneider

BILL Holdings shares have bottomed out near $40/share. The activist investor Starboard Value and hedge fund Elliott Management move in: a double...