Navigating the ASX: Expert Insights on AMP, Domino’s, and Netwealth
The Australian Securities Exchange (ASX) presents a dynamic landscape for investors, with many companies vying for attention. However, popularity doesn’t always translate to sound investment choices. This article delves into the current outlook for three prominent ASX-listed companies: AMP Ltd, Domino’s Pizza Enterprises Ltd, and Netwealth Group Ltd, drawing on expert analysis to determine whether they represent a buy, hold, or sell.
AMP Ltd (ASX: AMP): A Long Road to Recovery
AMP Ltd, a well-established financial services company, has been actively pursuing a turnaround strategy aimed at simplifying its operations and improving performance. While Catapult Wealth acknowledges the progress being made, it suggests that these efforts have not yet reached a level sufficient for a positive investment rating. The firm points to increasing competition within AMP’s crucial platforms business as a significant concern.
The wealth management firm has therefore issued a “sell” recommendation for AMP shares. The analysis highlights that although simplifying the business is yielding some positive outcomes, the company faces a substantial challenge given its history of disappointing performance over an extended period.
AMP’s platform business operates within a growing superannuation asset pool, a generally favourable market condition. However, the company is noted to be lagging behind its competitors in a sector characterised by rapid technological evolution. As of March 1, 2021, AMP shares were priced at $1.41. By February 19, 2026, the share price had dipped to $1.37, suggesting that investors may find better opportunities elsewhere in the market.
Domino’s Pizza Enterprises Ltd (ASX: DMP): Facing a Headwind of Challenges
Catapult Wealth has also advised investors to steer clear of Domino’s Pizza Enterprises Ltd, recommending its shares as a “sell.” The firm believes that the fast-food giant is confronting a multitude of headwinds that could impede future growth and profitability.
While Domino’s has achieved some success in expanding its operations into European and Asian markets, Catapult Wealth’s assessment indicates that the company is grappling with several significant challenges. These include:
- Cost Inflation: Rising costs for raw materials are putting pressure on profit margins.
- Consumer Cost of Living: Economic pressures on household budgets can lead to reduced discretionary spending on items like takeaway food.
- Shift Towards Healthier Options: A long-term trend favouring healthier eating habits may impact demand for traditional fast-food offerings.
Furthermore, Domino’s faces intense competition from an ever-expanding array of food choices and a growing number of home delivery services, further complicating its market position.
Netwealth Group Ltd (ASX: NWL): A Promising Growth Opportunity
In contrast to its outlook on AMP and Domino’s, Catapult Wealth expresses a positive sentiment towards Netwealth Group Ltd, designating its shares as a “buy.” The investment platform provider, despite a disappointing exposure to the collapse of the First Guardian fund, is viewed by the wealth management firm as having significant future growth potential.
Catapult Wealth urges investors to look beyond the First Guardian incident and focus on Netwealth’s future prospects. The firm highlights that Netwealth currently holds less than 9% of the market share, indicating substantial room for continued expansion.
The company’s resilience was demonstrated in late 2025 when it agreed to pay $100.7 million in compensation to customers who had invested in the collapsed First Guardian Master Fund, which was listed on its platform. Despite this significant expense, investors responded favourably to Netwealth’s first-half results for the 2026 financial year, announced on February 18, 2026.
Platform revenue reached $189 million, marking a 25.3% increase compared to the same period in the previous year. While the statutory loss of $2.2 million includes the First Guardian compensation, excluding this one-off expense, the net profit after tax stood at $69 million, representing a healthy 19.9% rise.
Netwealth is recognised as the second fastest-growing superannuation and investment platform in Australia. This growth is attributed to its ongoing investment in technology and its leadership position in a rapidly evolving sector. With a market share still below 9%, Netwealth is well-positioned to continue achieving double-digit growth in the foreseeable future.
