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Megaport Ltd ASX:MP1

AI Infrastructure Data Centres SaaS Telecommunications

2 opened or increased24 held2 reduced or exitedlatest position by manager, past 12 months90 days: 1 increased, 0 reduced. 28 managers in total.

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22 Dec 2023 to today

Commentary Showing 2 of 94

DateManagerActionSummary

6 Oct 2026Pendal GroupHeldPendal Group continues to hold Megaport Ltd (ASX: MP1) after shares rose 13.9% on the announcement of three AI infrastructure contracts with a combined total contract value of A$979 million. Pendal notes the contracts add A$232 million of annual recurring revenue at full run-rate, lifting pro forma ARR to about A$1.1 billion. The deals include A$323 million of customer prepayments, covering around 65% of required capex and substantially reducing funding risk. Management upgraded FY27 revenue guidance to A$720–810 million from A$620–730 million and EBITDA margin guidance to 42–44% from 38–40%. Network ARR growth accelerated to 29% and net retention improved to 116%. Pendal highlights the improved contract economics, stronger earnings visibility and evidence that AI compute demand remains exceptionally strong.

AI InfrastructureNewsletter, price recorded $21.01

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30 Sep 2026Centennial Asset ManagementHeldCentennial Asset Management highlights Megaport as delivering an additional contract win and an earnings upgrade during the month. The network-as-a-service provider announced three new strategic take-or-pay style compute contracts with a combined total contract value of A$979m. Revenue and EBITDA guidance were increased by around 13% and 25% respectively. Centennial notes these strategic contracts are the key contributors to the improved guidance and operating margin outlook, indicating Megaport's expansion into compute services is adding a meaningful new revenue stream alongside its core interconnection business.

Monthly Report, price recorded $20.65

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Articles

About Megaport Ltd

Information Technology, IT Services

Megaport (ASX:MP1), a network-as-a-service provider, has transformed into an AI compute player through acquisition, energising growth investors. In September 2026, LSN Capital Partners rated Megaport a buy, saying the Latitude acquisition moved it directly into AI compute and GPU services, and expects EBITDA to grow from around $77 million in FY26 toward guidance of about $290 million in FY27. LSN also noted a further guidance upgrade, and Hyperion reported FY26 revenue up 37% to $312 million. Infinity sees Megaport as a way to benefit from AI without picking the eventual winner. Megaport operates in the Information Technology sector within the IT Services industry, and Thesis Tracker has captured 87 comments from 28 fund managers, including LSN, Hyperion and Infinity. Founded in 2013 by Bevan Slattery and headquartered in Brisbane, Megaport provides software-defined interconnection between data centres, clouds and enterprises globally, and now offers compute services.

Market cap: $3.7b
Price to earnings: Loss-making
Return on equity: -6.6%
Dividend yield: 0.0%
Price to book: 3.74x
Net margin: -12.5%
52-week range: $5.96 to $23.20

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Megaport Ltd (ASX:MP1)?

Fund managers including Longwave Capital, Ausbil Investment Management, Yarra Capital Management, Elston Asset Management, Wilson Asset Management, Ellerston Capital, ECP Asset Management, Blackwattle Investment Partners, LSN Capital Partners, Montgomery Investment Management, Flagship Investments, Pendal Group, Lennox Capital Partners, Selector Funds Management, Infinity Asset Management, Tamim Funds Management, Quest Asset Partners, Perennial Partners, Centennial Asset Management, Regal Funds Management, Hyperion Asset Management, ALC Capital, Firetrail Investments, Bennelong Australian Equity Partners, SG Hiscock & Company, Paradice Investment Management, Milford Asset Management and Fairview Equity Partners have invested in Megaport Ltd (ASX:MP1).

What opportunities or catalysts do fund managers highlight for Megaport Ltd?

Managers highlight the Latitude acquisition expanding into AI compute and GPU services, guidance implying EBITDA nearly quadrupling in FY27, a recent guidance upgrade and strong revenue growth, according to LSN and Hyperion.

What are the key risks to the Megaport Ltd investment thesis, according to fund managers?

Infinity notes technology stocks such as Megaport have seen softer share prices despite strong operations, and the shift into compute brings execution and capital intensity risks.

What does Megaport Ltd (ASX:MP1) do?

Megaport Ltd. is a Brisbane-based company founded in 2013 by Bevan Andrew Slattery. It provides software-defined networking (SDN) through elastic interconnection services. Core product offerings include Port, MCR, Megaport Marketplace, and MegaIX. Megaport operates globally, with business segments categorized into three geographical regions: North America, Asia-Pacific, and Europe.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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