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.
Read MoreCredit Suisse expects FY21 to be “remarkable” with a shift to digital donations accelerating significantly and the platform becoming indispensable to clients.
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Beyond the dismal parade of ASX-listed victims ensuing from the corona crisis, a low-profile cluster of stocks is benefiting from the mayhem.
Read MoreUBS observes the company has outperformed the market by 20% over the last month because of improved operating leverage, double-digit back book growth and the acquisition of Church Community Builder.
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Brokers anticipate the acquisition of Church Community Builder by Pushpay Holdings will provide additional value and stabilise front book growth.
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