Hemnet shares sink 15% after board pauses share buyback

Hemnet stock rose 4.0% to kr77.45 after JPMorgan and Morgan Stanley upgraded their ratings to overweight, setting price targets of kr126.00 and kr102.00, respectively. The company has been conducting share buybacks, and the stock had declined 22% in the prior month and 70% over the past year. The broader market was slightly negative, with the OMXS30 index showing no significant movement.

Hemnet's shares dropped 11.9% to kr70.35 after pausing its SEK 600M share buyback program to maintain financial flexibility. Morgan Stanley cut its price target to kr110. The stock had already fallen 11% in the past month and 69% over 12 months. The broader Stockholm market remained positive, indicating the decline was company-specific.

Hemnet shares rose nearly 10% to SEK 105.3 after JPMorgan upgraded the stock from Underweight to Overweight and raised its price target to SEK 126 from SEK 81, citing a more attractive valuation and expectations of improving listing volumes over 12 months. The move reverses JPMorgan’s prior November 2025 downgrade.

Hemnet shares rose more than 10% after JPMorgan upgraded the stock to Overweight from Underweight and raised its price target to 126 Swedish kronor from 81. JPMorgan cited improving listings, resilient traffic, and early signs from Hemnet’s “Sell first/pay later” model, alongside attractive valuation after a 42% YTD decline.

Hemnet shares rose 7.7% to SEK 88 after the company released its Q2 2026 earnings early and held a two-hour investor presentation. The report included updates on its AI strategy and Sweden housing market outlook, and said CFO Anders Örnulf will be replaced by Peter Messner on July 20. The move was described as company-specific amid weak broader markets.

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