0152 GMT - Zip's existing customers are likely to be the biggest driver of transaction-value growth on the Australian buy-now-pay-later provider's platform, UBS analyst Lucy Huang writes in a note. Huang tells clients that Zip's continuing pivot toward higher-value goods such as electronics and vehicles supports her view that the company can keep increasing average annual growth in total transaction volume by 31% through fiscal 2026. Zip's 49% growth in 3Q Americas transaction volume came despite a 1.7% fall in active customers in the region. UBS lifts the stock's target price 8.4% to A$1.55 and keeps its buy rating. Shares are down 2.5% at A$1.155. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 16, 2024 21:53 ET (01:53 GMT)
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