Xero's Product, Price Changes Should Boost Revenue -- Market Talk

Dow Jones05-02

0258 GMT - Xero's Australian price rises and simplified product range should provide the cloud-accounting provider with significant revenue benefits, Goldman Sachs analysts tell clients in a note. They are positive on the headline price rises, which range from 8%-9% for lower-level plans to as much as 14% for top tiers. They also think that the removal of features from entry level plans should prompt some users to upgrade. The GS analysts expect Xero to unveil a similar plan structure in the U.K., New Zealand and the U.S., although they admit that the extent of some regions' price rises remains unclear. GS raises the stock's target price 3% to A$156.00 and keeps its buy rating. Shares are up 0.8% at A$124.14. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

May 01, 2024 22:59 ET (02:59 GMT)

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