Forget oil or gold – the 21st century’s most coveted resource is data. And while headlines often focus on Big Tech’s grip on it, Panmure Liberum thinks there’s still plenty of upside left for UK investors looking to tap the trend.
Why data matters to your portfolio
If you’re investing in 2025 and not thinking about data, you might be missing the plot.
Data is more than a buzzword, according to a new note from Panmure Liberum, it’s the “key asset class” driving value creation in everything from consumer insight and logistics to artificial intelligence.
Unlike more cyclical sectors, the demand for data-enabled services tends to remain resilient through economic turbulence, which makes it particularly appealing in today’s jittery markets.
Panmure’s thesis is clear: companies that gather, structure and monetise data effectively will continue to outgrow their peers.
Better still, several of these names sit squarely in the UK’s small- and mid-cap space, where valuations remain attractive following a prolonged de-rating across the sector.
GlobalData, Craneware and Cerillion: the data trio to watch
One of the broker’s top picks is GlobalData PLC (AIM:DATA), which boasts around 80% recurring revenue and a strategy anchored in subscription-based data services across sectors such as healthcare, ICT and consumer markets.
After a tough 2024, sentiment has shifted. Panmure believes a growth transformation plan – aimed at hitting £500 million of run-rate revenue by 2026 – is underappreciated. With a scalable model, a clean balance sheet and private equity backing, GlobalData is one to watch.
Craneware PLC (AIM:CRW), meanwhile, is putting its own spin on data monetisation through its US healthcare software platform.
Panmure praises the company’s steady execution and points to a significant cross-sell opportunity within its existing client base.
A newly strengthened partnership with Microsoft is expected to accelerate customer acquisition, and while shares are down this year, the broker sees consensus estimates as too conservative.
Cerillion PLC (AIM:CER) is the third name flagged for its standout data infrastructure offering.
With a record order pipeline and a new major telco contract in hand, the firm has strong visibility into future revenues.
Despite short-term questions about delivery cadence, Panmure argues the business is well-placed to deliver upside through its telecoms-focused platform.
The wider backdrop: volatility breeds opportunity
Year to date, the average UK TMT stock is down 15%, a long way from the FTSE 100’s modest 1% gain.
Panmure sees this as a buying window rather than a red flag. With earnings forecasts largely intact, the broker argues that investors are being compensated with significantly better value than they were 12 months ago.
One reason for the divergence is geopolitics.
Tariff talk and trade tensions have disproportionately hit confidence in cyclical and globally exposed names.
But Panmure reckons the first-order impacts for these mid-cap tech names are limited, and the long-term case for digitisation, automation and AI is only strengthening.
Betting on quality at a discount
While growth stocks are no longer cheap in the US, the UK offers a different story.
Panmure’s preferred data-focused names combine recurring revenue, modest valuations and credible roadmaps for earnings growth – a trio of qualities increasingly rare in today's market.
Trustpilot Group PLC (LSE:TRST), another Panmure pick, encapsulates the theme.
The ratings platform has seen its earnings forecast upgraded and trades on just 3.9% forward sales. That’s despite delivering a 24% compound annual growth rate in adjusted earnings through to 2027.
For investors looking for structural growth without paying top-dollar US multiples, Panmure’s note is a timely reminder: data isn’t just the new oil – it might also be your next alpha source.