mobile-menu-icon search-icon


Clients can browse and search the Peel Hunt research library and archive.


A tool for our clients to submit and manage orders with Peel Hunt. 


Thank you, your registration has been received.
We will be in contact with you shortly.

I'm interested in (tick all that apply)



Financial Advisory and Capital Markets Services to Corporates

Comprehensive coverage of over 420 companies

Investment ideas and execution for institutional investors

Complete UK pricing coverage and worldwide access

Our joined-up approach allows us to consistently deliver value

A wealth of experience, strong collegiate ethos underpinning our joined-up approach

Our principles define the relationship between our people, our departments and our clients

We are committed to making a difference in the communities we live and work in

Insight Image

2020 will be defined by volatility due to continued uncertainty (COVID-19, monetary intervention etc). Quality will again trump value. For the long-term investor, these are transient issues that introduce noise. We have detailed a framework to analyse software and software-like models, dive into the changing landscape of video games, pick the most ESG-worthy tech stories, and highlight trends with a bias to pragmatism.

Expensive tech outperforms. We often tend to underestimate the impact of technology in the long run. As a result of this underestimation, we continue to see the tech sector outperform. However, it tends to be the expensive tech companies, rather than the cheap ones, that drive outperformance. This is due to cheap tech stocks rarely being able to resolve their issues, especially if it is related to product- market fit. Therefore, we continue to caution investors against turn-around stories.

The Rule of 40. Global earnings growth continues to be disproportionately attributable to the tech sector. As such, every company now wants to be one, but of course, not all are. The Rule of 40 is a useful framework for identifying true tech companies, especially software. This rule of thumb states that these companies should approximately have a combined FCF margin (excl.tax) and revenue growth equal to 40%. If they do not, it raises the question: why?

Video gaming revolution. This fast-growing industry continues to evolve. Over the few past years, it has been about the transition to Games-as-a-Service (GaaS). We are now on the precipice of even greater change, with the promise of cloud gaming. This will not only lower barriers and expand the market, it will upend business models once again, challenge excessive platform fees, and create new winners and losers. Even though cloud gaming will remain niche in the near term due to tech constraints, we believe its impact will be monumental in the long-run, benefitting all our gaming coverage.

Environmental, social & governance (ESG) no longer just ‘nice to have’. ESG is now an ever more important consideration for companies and investors. In this movement, technology companies will play a key role, as they make positive ESG contributions in multiple ways. Under our coverage, we find seven interesting ideas. Blancco allows for the re-use of servers rather than wasteful disposal, Craneware helps align hospital’s incentives with patients, and Gamma reduces travel emissions with its communication tech.

To request access to the full sector note please click here