FTSE 250 movers: Raspberry Pi, Trustpilot surge; Close Bros slides
By Frank Prenesti
Date: Tuesday 17 Mar 2026
(Sharecast News) - FTSE 250 (MCX) 22,297.72 1.25%
Raspberry Pi shot higher on Tuesday after Hedgeye Risk Asset Management recommended buying shares of the maker of high-performance, low-cost single-board computers (SBCs).
Although the report from Hedgeye came out on Monday, there wasn't any other obvious reason for the pop in Raspberry Pi's share price on Tuesday afternoon.
Hedgeye said that for a small-cap play exposed to AI agents, Raspberry Pi "may look interesting" as it's likely positioned as a primary hardware beneficiary of the OpenClaw cycle.
The firm, which is long Raspberry Pi, said that while it is still a majority-industrial business, agentic AI adoption could shift the company's volume and revenue more towards consumers and developers.
Hedgeye said channel checks suggest Raspberry Pi's key products are selling well despite recent price hikes. It also pointed to the fact that social media sentiment towards Raspberry Pi for AI agent use cases has been positive.
Hedgeye also recommended buying Chinese technology firm Tencent, having previously been short the shares. It said that after falling behind Alibaba and TikTok owner ByteDance in large language models, the agentic AI opportunity in China is putting the company back into pole position.
It said that through control of its own agents, Tencent has an opportunity to protect WeChat usage and create new monetisation opportunities for cloud and enterprise business.
Customer feedback platform operator Trustpilot shares rose by a third after reporting on Tuesday that operating profits had surged in 2025, as both bookings and revenues grew and margins expanded.
Trustpilot said operating profits had skyrocketed 320% to $16m in FY25, while pre-tax profits grew 172% to $14.1m. Adjusted underlying earnings were up a more subdued 69% at $40.7m, while adjusted EBITDA margins expanded 4.2 percentage points to 15.6%.
Bookings were up 22% at $291.4m, with momentum accelerating in the second half, and revenues rose 24% to $261.1m, driven by strong retention and bookings growth. Operating cash flow increased by 102% to $59.2m and adjusted free cash flow grew 173% to $46.6m.
Looking ahead, Trustpilot said revenue was expected to grow "high-teens" at constant currency rates, reflecting strong 2025 bookings, and it also expects to see a further 2-3% improvement in adjusted EBITDA margins.
Trustpilot said it continue to expect to deliver "at least mid-teens revenue growth each year" and, given the "opportunity" AI offers its business and operating leverage, also expects to reach 25% adjusted EBITDA margins in 2028 and 30% in 2030.
Chief executive Adrian Blair said: "We delivered an excellent performance in 2025, achieving 18% constant currency bookings growth, with momentum accelerating in H2 driven by Enterprise growth, and a 4.2 ppt improvement in adjusted EBITDA margin, ahead of expectations.
"This performance demonstrates the inherent operating leverage in our model. We enter the new financial year with clear strategic momentum and continued confidence in our growth roadmap."
As of 0830 GMT, Trustpilot shares had surged 16.18% to 204.60p each.
On the downside, Close Brothers was under pressure again as it reported a narrowing of its first-half losses and said it was planning to cut around 600 jobs by the end of financial 2027 as it accelerates its cost-cutting programme.
Shares in the company tumbled late on Monday after Viceroy Research said in a note that it had "systematically misrepresented" its exposure to the car finance scandal. Viceroy said that examination of the Financial Conduct Authority's redress scheme suggests that Close Brothers will have to "at least, double its existing provisions".
Travis Perkins rose even as it warned of subdued market conditions and said it swung to an annual loss.
FTSE 250 - Risers
Trustpilot Group (TRST) 227.00p 28.34%
Raspberry PI Holdings (RPI) 375.40p 27.38%
IP Group (IPO) 54.80p 9.64%
Travis Perkins (TPK) 629.00p 7.28%
BlackRock World Mining Trust (BRWM) 938.00p 6.70%
Oxford Nanopore Technologies (ONT) 124.50p 6.41%
Playtech (PTEC) 361.00p 5.09%
Oakley Capital Investments Limited (DI) (OCI) 494.50p 4.55%
Wizz Air Holdings (WIZZ) 928.00p 3.86%
Wickes Group (WIX) 222.50p 3.72%
FTSE 250 - Fallers
Close Brothers Group (CBG) 344.00p -3.75%
Harbour Energy (HBR) 285.80p -2.13%
Domino's Pizza Group (DOM) 180.00p -1.90%
Senior (SNR) 277.00p -1.78%
BH Macro Ltd. GBP Shares (BHMG) 429.50p -1.71%
FirstGroup (FGP) 169.00p -1.57%
Harworth Group (HWG) 169.50p -1.45%
Savills (SVS) 916.00p -1.40%
QinetiQ Group (QQ.) 499.60p -1.07%
Genuit Group (GEN) 298.50p -0.67%
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