2317 GMT - Any Xero bears will likely contend that the cloud-accounting software provider is masking slow subscriber growth with price rises, RBC Capital Markets analyst Garry Sherriff says. He points out in a note to clients that the Australia-listed company's fiscal first-half revenue was broadly in line with expectations, despite subscriber numbers coming in about 2% lower than analysts had forecast. On the flip side, Sherriff says that pricing strength, low customer churn, and stronger-than-expected earnings and free cashflow are all positive. RBC has an outperform rating and A$170.00 target price on the stock, which is at A$161.55 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 13, 2024 18:17 ET (23:17 GMT)
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