Initiated PRL at $20.40 two weeks ago. Up 20%+ at the high. Here's where the thesis stands after earnings.

Quick update for anyone following.

I initiated coverage on Propel Holdings on April 28 at $20.40. The Stock hit $24.74 on May 5 after a record quarter, with revenue up 20%, originations up 30%, new customer growth up nearly 40% year over year, this is the 11th consecutive dividend raise. It has pulled back slightly since, which is normal after a 12% single-day move.

The thesis remains unchanged. Management guided ~50% bottom-line growth for 2026. Roughly 7-8x forward earnings for a company growing 50%. PEG ratio of 0.15. Eight analysts covering, all Strong Buy, consensus target C$30.19.

Full earnings analysis here

Not investment advice.