Naspers Share Price Stalls After Fall – JSE: NPN Support Signals Rebound Ahead
Naspers continues to impress investors in 2025, blending strong price action with rising profitability and ambitious strategic expansions.
Quick overview
- Naspers has seen a remarkable 48% increase in share price in 2025, reaching a record high of R1,305.
- The company's financial performance for FY2025 showed significant growth, with net profit soaring 86% to R222.3 billion.
- Analysts have upgraded Naspers to a Rank #2 (Buy), reflecting increased earnings expectations and confidence in future share price appreciation.
- Naspers is set to execute a share split to enhance liquidity and broaden retail participation, while also expanding its digital ecosystem through the acquisition of Just Eat Takeaway.
Naspers continues to impress investors in 2025, blending strong price action with rising profitability and ambitious strategic expansions.
Share Price Momentum Remains Intact
Naspers’ impressive 2025 rally has been one of the standout performances on the JSE. The stock surged more than 48% year-to-date, rising from R822 in January to a record R1,305 in early October. While the share eased 4% on Friday to close at R1,220, the broader trend remains decisively upward.
NPNJ Chart Daily – Will Naspers Rebound off the 50 SMA?
Technical indicators continue to underpin the positive outlook. The 50-day simple moving average (SMA) has repeatedly provided a sturdy support base during market pullbacks, keeping the uptrend intact. Friday’s dip found support precisely at the 50-day SMA, suggesting that the recent pullback may present another buying opportunity within a bullish structure.
Technical Structure Supports the Bull Case
Charts across multiple timeframes continue to look constructive:
- Daily chart: Price action remains above key moving averages, indicating sustained buying interest.
- Weekly chart: The 20-week SMA has consistently held as support in recent months, aligning with the broader uptrend.
These signals highlight steady institutional accumulation and reinforce confidence in continued upside potential.
Financial Strength Underpins Investor Confidence
Naspers’ FY2025 performance (ending March 31) showcased healthier fundamentals across its business portfolio:
- Group revenue climbed 20% YoY to $7.2 billion (R130.1 billion).
- E-commerce revenue rose 12% in USD and 21% in local currencies to $7 billion (R126.5 billion).
- Core headline earnings jumped 46%, supported by margin improvements and stronger Tencent dividend flows.
- Operating profit swung back into positive territory at $124 million, reversing last year’s $562 million loss.
- Net profit soared 86% to $12.3 billion (R222.3 billion).
- Adjusted EBIT surged from $24 million to $430 million, reflecting far more efficient operations.
These results highlight accelerating profitability across the e-commerce ecosystem while reinforcing the stability contributed by the Tencent stake.
Upgraded Market Outlook & Analyst Support
Naspers has also gained renewed traction among analysts. Zacks recently upgraded the company to a Rank #2 (Buy), citing a steady rise in earnings expectations—one of the strongest indicators of long-term share price appreciation.
For FY2026, the company is projected to earn $1.11 per share, in line with the prior year but supported by improved margin profiles. Notably, consensus estimates have climbed 20.9% over the past three months, showcasing growing analyst conviction.
October Share Split to Boost Liquidity
Naspers is set to execute a major share subdivision on October 6, 2025, following shareholder approval in August. Each shareholder will receive five shares for every one held, reducing the nominal share price to about 20% of its pre-split level.
The split does not alter market capitalization or ownership percentages—it simply increases share accessibility and potentially broadens retail participation, often a positive driver for liquidity and valuation.
Strategic Expansion: Prosus Secures Just Eat Takeaway Deal
Naspers’ international arm, Prosus, confirmed that its acquisition of Just Eat Takeaway (JET) is now unconditional. The €4.1 billion (R83 billion) purchase brings a major global food-delivery platform into the company’s expanding digital ecosystem.
JET operates in 17 countries and has strong brand visibility, including UEFA partnerships. The acquisition bolsters Naspers’ push into global e-commerce and food delivery—areas with significant long-term growth potential.
Market Position & Forward Outlook
With a market value approaching R1 trillion, Naspers remains South Africa’s most influential listed company. Its strength lies in a combination of:
- A dominant Tencent stake
- Expanding e-commerce operations
- Strategic acquisitions
- Improving profitability
- Strong technical and liquidity trends
As the share split approaches and global expansion accelerates, Naspers appears well-positioned for sustained momentum through the end of 2025 and into 2026.
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