SMART PARKING LIMITED (SPZ)
Share Price Analysis and Chart

27/03/2025

1

Buy, High Risk

$1.25

44.51%

Shaw and Partners believes Smart Parking offers attractive value following short-term selling pressure post its US acquisition, while fundamentals remain unchanged.

The sell-down followed a capital raising to fund the Peak Parking acquisition, explains the broker, yet the company continues to demonstrate strong organic growth and improving earnings visibility.

Regulatory risks in the UK have eased, and Smart Parking is gaining share through its Automatic Number Plate Recognition (ANPR) technology and sales capability.

No change to Buy, High-Risk rating and $1.25 target.

FORECAST
Shaw and Partners forecasts a full year FY25 dividend of 0.00 cents and EPS of 2.00 cents.
Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.60 cents.

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19/03/2025

1

Buy

$1.25

44.51%

Following Smart Parking's 1H25 result, Canaccord Genuity made minor changes to its core EBITDA forecasts but those increased after factoring in the acquisition of US-based Peak Parking.

The broker lifted EBITDA forecasts for FY25 and FY26 by 8% and 31% respectively, offset by share dilution. The analyst reckons the acquisition multiple was undemanding given Peak Parking's business quality and solid revenue growth.

The broker believes the share price weakness post-acquisition provides an entry point as it was driven by macro factors.

Target price rises to $1.25 from $1.10. Buy retained. 

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 2.40 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.60 cents.