0326 GMT - Growth in the lifetime value of Xero's customers can drive material share-price gains in the next two or three years, say its bulls at Morgan Stanley. The MS analysts tell clients in a note that they see lifetime value rising from NZ$17.95 billion in the accounting software provider's last fiscal year, to NZ$21.5 billion in fiscal 2026, and to NZ$25.8 billion in fiscal 2027. They don't think that the market is fully appreciating the scale of this rise, which they see as driving equity value. Xero's rule-of-40 performance, free cash-flow, and average-revenue-per-user growth in its last fiscal year all support MS's continued overweight rating and A$220.00 target price. Shares are down 0.1% at A$181.935. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
May 15, 2025 23:26 ET (03:26 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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