Analyst Ed Young from Morgan Stanley maintained a Hold rating on Hemnet Group AB and keeping the price target at SEK165.00.
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Ed Young has given his Hold rating due to a combination of factors, balancing weaker near‑term revenue with signs of operational progress. April’s net sales fell about one‑fifth year over year and missed his second‑quarter growth assumptions, as the new “Sell First, Pay Later” model shifts revenue recognition to the time of sale, creating short‑term pressure on reported figures while May remains the key month for the quarter.
Despite softer top‑line trends and listing volumes that are still below his expectations, he notes improving momentum: the year‑on‑year decline in published listings has narrowed, adoption of the new payment model has reached over 40%, and paid ARPL is rising, supported by modest B2B growth. Taken together, these data points suggest a business in transition rather than one facing structural decline, which, combined with an unchanged $165 price target, supports a neutral stance instead of a more decisive Buy or Sell view.
Young covers the Consumer Cyclical sector, focusing on stocks such as Entain plc, Flutter Entertainment PLC, and La Francaise des Jeux SA. According to TipRanks, Young has an average return of 4.4% and a 47.06% success rate on recommended stocks.
In another report released on April 29, Barclays also maintained a Hold rating on the stock with a SEK145.00 price target.