Xero's Australian Sales Channels Should Mitigate Churn Risk -- Market Talk

Dow Jones05-03

0253 GMT - Xero's success in developing partner channels in Australia should mitigate the risk that its price rises will increase customer churn rates, Macquarie analysts say in a note. They point out that Australia's regulatory and compliance environment means that about 70% of the cloud-accounting provider's business in the country comes through accountants and bookkeepers, who make the purchasing decision. They then pass on the cost to their customers. Macquarie lifts the stock's target price 1.3% to A$154.60 and keeps its outperform rating. Shares are up 1.9% at A$126.03. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

May 02, 2024 22:54 ET (02:54 GMT)

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They then pass on the cost to their customers. Macquarie lifts the stock's target price 1.3% to A$154.60 and keeps its outperform rating. Shares are up 1.9% at A$126.03. 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