Investors vote on Xero’s results
Investors gave Xero's solid rebounding interim results a thumbs-down. This decline was much larger than the broader market.
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We started Xero to change the game for small business. Our beautiful cloud-based accounting software connects people with the right numbers anytime, anywhere, on any device. For accountants and bookkeepers, Xero helps build a trusted relationship with small business clients through online collaboration. We’re proud to be helping over 2 million+ subscribers worldwide transform the way they do business. And we’re just getting started.
Founded in 2006 in New Zealand, Xero is one of the fastest growing software as a service companies globally. We lead the New Zealand, Australian, and United Kingdom cloud accounting markets, employing a world-class team of more than
3,000+ people. Forbes identified Xero as the World’s Most Innovative Growth Company in 2014 and 2015.
Small business makes the world go round – it’s the heart of the global economy. We want millions of small businesses to thrive through better tools, information and connections. Like all great challenges, we can’t do it by ourselves: we work closely with our customers, partners, and other friends to push innovation forward, turning Xero into the online business platform for the world.
Investors gave Xero's solid rebounding interim results a thumbs-down. This decline was much larger than the broader market.
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The arrival of accounting software giant Xero’s 2022-23 annual results yesterday brought with it news that sent the shares back over the $100 mark.
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NZ accounting software maker Xero has become the latest technology company to announce major staff cuts, telling investors on Thursday it would axe up to 800 roles around the world.
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Investors punished accounting software multinational Xero yesterday after it released mixed interim results which were topped by the surprise exit of CEO Steve Vamos.
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Investors in software group Xero took out the axe with the long handle yesterday and gave the company’s shares a good whack after what they thought was a disappointing annual result.
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Morgans initiates coverage on cloud-based accounting software platform Xero with an Add rating and target price of $90.25.
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The $130 target price and Underperform rating are maintained.
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The broker reviews its current multiples and finds it hard to justify the current valuation, downgrading to Underperform from Neutral. Target is $130.
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Credit Suisse welcomes the recent Planday acquisition, believing the segment has attractive metrics which complement the existing business. Rating is upgraded to Outperform from Neutral and the target is raised to $136 from $119.
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The company's presentations have reinforced the various options for long-term growth. Macquarie expects investment will mirror the revenue outlook.
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