Noah Holdings: Back On The Path Of Growth

Mar. 26, 2021 8:00 AM ETNoah Holdings Limited (NOAH) StockNOAH
The Value Pendulum
Investing Group Leader

Summary

  • Noah Holdings' 4Q 2020 financial performance was good, with its net revenues and adjusted net profit up +20.9% YoY and +121.1% YoY, respectively, in the last quarter of 2020.
  • A continued shift in focus from non-standardized products to standardized products has helped Noah Holdings' wealth management business deliver strong net revenues growth in the most recent quarter.
  • Noah Holdings is guiding for a +11% YoY growth in net profit for FY 2021; the new client servicing model and future acquisitions could be its key growth drivers.
  • Noah Holdings is valued by the market at consensus forward FY 2021 and FY 2022 P/E multiples of 14.0 times and 11.7 times, respectively.
  • Looking for more investing ideas like this one? Get them exclusively at Asia Value & Moat Stocks. Learn More »

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Elevator Pitch

I upgrade my rating for Noah Holdings Limited (NYSE:NOAH) from Neutral to Bullish.

This represents an update of my initiation article for Noah Holdings published on January 8, 2021. Since my initiation, Noah Holdings' share

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This article was written by

The Value Pendulum
12.81K Followers

The Value Pendulum is an Asian equity market specialist with over a decade of experience on both the buy and sell sides.

He is the author of the investing group Asia Value & Moat Stocks, providing ideas for value investors seeking investment opportunities listed in Asia, with a particular focus on the Hong Kong market. He hunts for deep value balance sheet bargains and wide moat stocks and provides a range of watch lists with monthly updates within his investing group.

Analyst’s Disclosure:I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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