0022 GMT - Xero's bull at Macquarie is looking for two things in particular at the accounting-software provider's annual result. U.S. subscriber growth is a key issue, with a note from one of the investment bank's analysts pointing out that Xero's U.S. offering is 80% cheaper than the equivalent from rival Intuit. The analyst says that industry feedback suggests Xero is gaining traction among accountant and bookkeeper partners. Then there is AI monetization. The Macquarie analysts wants some information on how much value Xero's AI capabilities are generating for subscribers. "Agentic products can and will drive value capture," the analyst writes. Macquarie trims its target price 4.4% to A$223.60 and keeps an outperform rating on the stock, which is up 0.3% at A$80.39. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

May 12, 2026 20:22 ET (00:22 GMT)

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