PPH – UBS rates the stock as Neutral

UBS observes a strong first half for Pushpay Holdings with beats on revenue, gross margins and operating income. With no growth in the total number of churches, the slowdown in the front book was greater than the broker expected.

UBS is concerned and not sure if it’s due to covid-19 or something more structural.

On the assumption the front book growth resumes in FY22-23, UBS retains its Neutral rating with the target rising to NZ$8.35 from NZ$8.

Sector: Software & Services.

The current Price is $7.80. Target price not assessed.

About Broker News

FNArena's Australian Broker Call, is your daily news report on the latest recommendation, valuation, forecast and opinions recently published by Stockbrokers.

View more articles by Broker News →