Macquarie
Macquarie Group Limited
Macquarie is a Sydney-based global financial group whose Macquarie Capital division runs its equities research, sales and execution business. Its research centers on Asia-Pacific, with a US team focused on software, gaming and leisure, media, and business services and payments.
Company history
Macquarie began in Sydney in 1969 as Hill Samuel Australia, a subsidiary of the UK merchant bank Hill Samuel & Co. It obtained a banking licence as Macquarie Bank in 1985, listed on the Australian Stock Exchange in 1996 and bought ING's Asian cash equities business in 2004. Macquarie Group Limited became the non-operating holding company in 2007; the group today spans asset management, banking, commodities and global markets, and Macquarie Capital.
- 1969Hill Samuel Australia opens in Sydney with three staff
- 1985Obtains banking licence as Macquarie Bank
- 1987Stockbroking associate becomes Macquarie Equities Limited
- 1996Lists on the Australian Stock Exchange
- 2004Acquires ING's Asian cash equities business
- 2007Macquarie Group Limited formed as holding company
Research
As of 2026 Macquarie's equities team covers more than 1,000 Asia-Pacific listed companies across Australia, New Zealand and 11 Asian markets, alongside its US sector teams. It ranked second on the Research Strength Index in the 2025 Australian Equity Investors Study. Stocks are rated Outperform, Neutral or Underperform over 12 months; for Asia and US coverage, Outperform means an expected return above 10% and Underperform below -10%.
Coverage12M
- Stocks
- 112
- Ratings
- 285
- Price targets
- 80
- Median upside
- +27.1%
- Upgrades
- 23
- Downgrades
- 22
- Initiations
- 4
- Reiterations
- 236
- Targets raised
- 23
- Targets cut
- 25
- Positive61%58
- Neutral36%34
- Negative3%3
Sectors
Ratings
Listing
Activity24M
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 IRENIREN Limited | Outperform | $90 |
 GTLBGitLab Inc. | Neutral | $26 |
 PYPLPayPal Holdings, Inc. | Neutral | $50 |
 CORZCore Scientific, Inc. | Outperform | $38 |
 CRMSalesforce, Inc. | Neutral | $280 |
 CRWVCoreWeave, Inc. Class A Common Stock | Outperform | — |
 CZRCaesars Entertainment, Inc. | Neutral | $52 |
 XYZBlock, Inc. | Neutral | $75 |
 CRWDCrowdStrike Holdings, Inc. | Neutral | $485 |
 LVSLas Vegas Sands Corp. | Outperform | $56 |
Analysts24M
- Paul GoldingIREN · CORZ · PYPL18
- Ellie JiangTCOM · TME · PDD15
- Eugene HsiaoNIO · XPEV · LI9
- Steve KoenigGTLB · CRWD · DDOG6
- Tim NollenAPP · DV · NFLX6
- Chad BeynonFLUT · GAMB · PENN4
Recent actions
| Stock | Rating action | Rating | Target | Date |
|---|---|---|---|---|
| KSKS | Downgrade | Outperform →Underperform | Sep 21 | |
 J.B. Hunt Transport Services, Inc.JBHT | Upgrade | Outperform | Sep 17 | |
| TCTrip.com Group LimitedTCOM | Upgrade | Neutral →Outperform | $44.30 →$52.20 | Sep 17 |
 AngloGold Ashanti PlcAU | Downgrade | Neutral | Sep 17 | |
| JPJP | Initiate | Neutral | Sep 17 | |
 Roblox CorporationRBLX | Reiterate | Neutral | Sep 15 | |
| WFWFRSF | Downgrade | Neutral | $4 | Sep 14 |
| PRPursuit Attractions and Hospitality, Inc.PRSU | Initiate | Outperform | $62 | Sep 14 |
| Block, Inc.XYZ | Reiterate | Neutral | Sep 10 |
Similar coverage12M
References
- History – Macquarie Groupmacquarie.com
- Macquarie Capital Equitiesmacquarie.com
- Macquarie ANZ Equity Researchmacquarie.com
- Executive Committee – Macquarie Groupmacquarie.com
- Shemara Wikramanayake to retire in November 2026, Greg Ward to become CEO (July 2026)macquarie.com
- Macquarie research report with recommendation definitions (2023)macquarie.com.au