BEFOREPAY GROUP LIMITED (B4P)
Share Price Analysis and Chart

04/08/2026

1

Buy

$2.90

81.25%

Shaw and Partners maintains a Buy rating for Beforepay Group with its target price increased to $2.90 from $2.70 following a quarterly update revealing the broad implementation of a 2% monthly interest charge across nearly all Pay Advance loans.

The analyst projects this price increase will generate approximately $12m in annualised incremental revenue, flowing directly to the bottom line given the company's tax position.

Despite the pricing adjustment, demand destruction appears minimal, with active users growing 2.6% and average cash advances rising 16% compared to the prior corresponding period.

Leveraging a new $100m debt facility at lower interest costs, the personal loan segment grew originations to $7.2m in the June quarter, which the broker expects will scale to a $20m book by the end of FY27.

Following the removal of -$0.35 in valuation attributed to Carrington Labs, the revised target price reflects a 15%-20% premium to the small-cap financial sector.

FORECAST
Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of 15.10 cents.
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 38.60 cents.