Why did the Fineos share price roar 15% higher today?

This tech share was a strong performer on Tuesday…

| More on:
Arrows pointing upwards with a man pointing his finger at one.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Fineos Corporation Holdings PLC (ASX: FCL) share price was in fine form on Tuesday.

The insurance industry software provider's shares rose 15% to $1.61.

This means the Fineos share price is now up 24% since this time last week.

Why is the Fineos share price charging higher?

Investors have been bidding the Fineos share price higher following a rebound in the tech sector and some positive broker notes.

In respect to the former, the S&P/ASX All Technology Index rose over 2% on Tuesday after investor sentiment improved in the sector.

As for the latter, both Goldman Sachs and Macquarie have been talking positively about Fineos over the last week.

While Goldman Sachs only initiated coverage on the company's shares with a neutral rating, its price target of $1.65 is still higher than where its shares are trading even after these strong recent gains.

Goldman's analysts "see Fineos as well positioned to benefit from the long-term structural tailwinds of insurance industry digitisation and shift to cloud software."

Over at Macquarie, its team are even more positive. Last week the broker put an outperform rating and $2.89 price target on the company's shares. This implies over 80% upside for the Fineos share price from current levels over the next 12 months.

Macquarie believes that Fineos will outperform its peers in respect to software revenue growth. Yet, despite this, it notes that the company's shares still trade at a large discount to them.

Should you invest $1,000 in Kogan.com Limited right now?

Before you buy Kogan.com Limited shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Kogan.com Limited wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended FINEOS Corporation Holdings plc. The Motley Fool Australia has recommended FINEOS Corporation Holdings plc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Technology Shares

Data Centre Technology
Technology Shares

Is it too late to buy NextDC shares?

NextDC's share price has surged over the last couple of weeks. Will it continue?

Read more »

Man with a hand on his head looks at a red stock market chart showing a falling share price.
Technology Shares

Guess which ASX 200 tech stock is crashing 25% following an update

This tech stock is being sold off on Wednesday. But why?

Read more »

A young man goes over his finances and investment portfolio at home.
Technology Shares

Why are WiseTech shares sinking 6% today?

What's going on? Let's find out what is happening with this tech stock today.

Read more »

Two IT professionals walk along a wall of mainframes in a data centre discussing various things
AI Stocks

NextDC share price lifts off on record quarterly contract wins

AI-fuelled data centre demand is lifting investor interest in the ASX 200 tech stock today.

Read more »

group of traders cheering at stock market
Technology Shares

What drove a 10% surge in ASX 200 tech shares last week?

The ASX 200 roared to a 2-month high on Friday, with tech shares leading the 11 market sectors last week.

Read more »

A man slumps crankily over his morning coffee as it pours with rain outside.
Technology Shares

Why is the Block share price crashing 33%?

This payment giant's shares are being hammered today. But why?

Read more »

A young man pointing up looking amazed, indicating a surging share price movement for an ASX company
Technology Shares

These ASX 200 tech stocks could rise 20% to 35%

Goldman Sachs is tipping these shares to rise strongly from current levels.

Read more »

A corporate team or board stands together and looks out the window.
Technology Shares

WiseTech shares charge higher on $3.5b acquisition news

This tech stock is ending the week positively. But why?

Read more »