ZIP.AX Zip Co ASX after-hours A$1.85: 218,628,186 volume signals momentum

ZIP.AX stock traded after-hours at A$1.85 on 23 Feb 2026 with an unusually high volume print of 218,628,186.00, marking it among the ASX most active names tonight. The move follows a wide YTD drawdown and strong revenue growth, and the stock is drawing attention from traders and analysts for short-term momentum and longer-term valuation questions.

ZIP.AX stock: Price action and most-active signals

Zip Co Limited (ZIP.AX) opened earlier at A$2.17 and printed a day low of A$1.72 and a day high of A$2.28 before settling at A$1.85 in after-hours trade on 23 Feb 2026. Volume for the session was 218,628,186.00, far above the average volume of 15,764,348.00, which flags strong retail or block activity. This spike pushed the stock into our most active list and suggests traders are repositioning ahead of fiscal catalysts.

Fundamentals and valuation for ZIP.AX stock

Zip Co is in the Financial Services sector offering BNPL and SME credit across multiple regions, with market cap 2,261,816,783.00 AUD and shares outstanding 1,270,683,586.00. Reported EPS is 0.08 and the quoted PE is 22.25, while price to sales sits near 1.84 and price to book near 3.44. These metrics place ZIP.AX above sector average PB of 2.04, reflecting growth expectations priced into the stock.

ZIP.AX stock earnings, growth and cashflow signals

Zip reported strong revenue expansion with last reported half showing 54.68% growth and trailing twelve-month revenue at 1.22B AUD. Net income growth is positive, with EPS growth around 15.32% year-on-year, but operating cash flow per share is negative at -0.04. The mix of revenue growth and weak cash conversion creates a valuation tension investors must weigh before adding ZIP.AX to a portfolio.

Technicals, volume and trading indicators for ZIP.AX stock

Technicals show short-term weakness and oversold signals: RSI 30.82, MACD histogram -0.06, and CCI -219.28, while ATR is 0.24 indicating elevated volatility. On balance volume is negative, but the session volume spike and a relVolume of 5.93 suggest renewed liquidity. Traders may watch A$1.72 support and the 50-day moving average at A$2.99 as key levels for momentum and mean reversion trades.

Meyka grade and technical snapshot for ZIP.AX stock

Meyka AI rates ZIP.AX with a score out of 100: 73.28 (Grade B+) and a suggestion: BUY. This grade factors in S&P 500 benchmark comparison, sector performance, financial growth, key metrics, and analyst consensus. The technical snapshot shows oversold momentum but stretched receivables metrics and elevated debt to equity of 3.83, so our grade balances growth with risks. These grades are not guarantees and we are not financial advisors.

Market context, risks and sector comparison for ZIP.AX stock

Within the ASX Financial Services sector, average PB is 2.04 and average debt to equity is 1.63; ZIP.AX’s PB of 3.44 and debt profile are higher than peers. Key risks include receivables concentration and negative operating cash flow. Opportunities include accelerating merchant acceptance and international revenue, which support higher multi-year forecasts if cash conversion improves.

Final Thoughts

Key takeaways for ZIP.AX stock: the after-hours print at A$1.85 on 23 Feb 2026 and the session volume of 218,628,186.00 mark a concentration of trading interest that traders should monitor for short-term momentum. Fundamentals show strong top-line growth—trailing revenue near 1.22B AUD—but cash flow conversion remains a concern with operating cash flow per share at -0.04. Meyka AI’s forecast model projects a short-term monthly target of A$1.97 (+6.49% vs A$1.85) and a 12-month projection of A$4.45 (+140.54% vs A$1.85). These figures expose wide scenario dispersion: the near-term forecast is modestly positive while the 12-month view assumes material execution on growth and cash conversion. Investors should balance the Meyka grade (B+ BUY) and upside scenarios against liquidity, receivables duration, and sector comparisons before acting. Forecasts are model-based projections and not guarantees.

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Stock markets involve risks. This content is for informational purposes only. Past performance does not guarantee future results. Meyka AI PTY LTD provides market analysis and data insights, not financial advice. Always conduct your own research and consider consulting a licensed financial advisor.