2329 GMT [Dow Jones]--Xero loses its bull at Jefferies on the cloud-accounting software provider's signal that it is placing an increased focus on revenue growth. Analyst Roger Samuel cuts his recommendation to hold from buy, telling clients in a note that Xero's introduction of the so-called rule-of-X into its performance metrics implies that it may sacrifice short-term free cash-flow margins. Samuel isn't concerned about Xero's investment discipline when it comes to driving growth, notably in the U.S., but he still sees downside risk to margins. Jefferies raises its target price 5.3% to A$194.80. Shares are at A$182.05 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
May 15, 2025 19:32 ET (23:32 GMT)
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