30/11/2023 09:16

Xero Ltd (XRO) v Telstra Group Ltd (TLS)

XRO has enjoyed a solid 2023, advancing +45% year-to-date, but the last few months have proved disappointing as the stocks corrected 20% following a soft report recently. We like the online accounting business, but valuation is always a concern, especially if/when we enter a risk-off period for equities.

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10/11/2023 16:46

Xero (XRO) $99.93

XRO -0.54% We’ve fielded a few questions on our holding in Xero in the past 24 hours, and whether or not we should hold or fold, so here’s our latest view as we wrap up the week. The simple answer at this stage is yes we are holding but we are not considering averaging which could be interpreted negatively.

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10/11/2023 09:44

Xero Ltd (XRO) $100.40

What a difference a result makes! In May, the stock soared after its result, demonstrating solid earnings from the accounting platform and good progress as they worked towards balancing growth and profitability. However, yesterday saw the stock plunge the most in 2-years after a small miss with its 1H result.

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09/11/2023 16:52

Xero (XRO) $100.47

XRO -12.42%: accounting software company fell more than 10% today for the first time in 2 years on a small miss at the 1H result. The good news was a great core Australia & NZ result with a combined 139k subs added and a small revenue beat. Average Revenue Per User (ARPU) was a small beat but this looked to be carried by an FX tailwind.

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06/10/2023 09:26

Xero Ltd (XRO) $113.68

XRO rallied +2.7% on Thursday, enjoying a solid lead from the US. Following its -14.5% correction, we believe the accountancy software business has found, or is very close to, a pivotal swing low on its advance towards fresh 2023 highs.

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22/09/2023 09:13

Xero Ltd (XRO) $115.33

XRO reported extremely well in May, the market re-rated the stock up around +25% following the result, as the accounting platform illustrated good progress in balancing growth and profitability. At MM, we continue to like XRO, especially when compared to many of its sector peers, but we are likely to trim/sell our position if we see a break out to fresh 2023 highs.

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17/08/2023 09:45

Flagship Growth Portfolio – Amendments

We are amending the Flagship Growth Portfolio.

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17/08/2023 09:15

Xero (XRO) $116.03

Online accounting stock XRO has drifted lower with the overall Tech Sector but we remain bullish following its excellent earnings update in mid-May which illustrated good progress as they work towards balancing growth and profitability i.e. XRO is still up over 65% year to date hence some consolidation is to be expected – XRO’s next scheduled report is in November.

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04/08/2023 09:51

Xero Ltd (XRO) $120.37

High-flying XRO fell over -2.7% yesterday as some profit-taking appeared to roll through some of 2023’s best performers i.e. XRO has rallied +71% YTD even after Thursday's dip.

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27/07/2023 09:32

Xero Ltd (XRO) v Altium Ltd (ALU)

So far in 2023 XRO is up +71% while Altium (ALU) has only gained  +7% i.e. another potential candidate for some performance catch-up.  We can see XRO pulling back in line with US tech names but at this stage, we have tweaked how we intend to play this stock given the explosive re-rate it has had. For a time, XRO was one of our largest weightings in the Flagship Growth Portfolio, however, we did trim the position back in May at ~$109, affording us some further flexibility with the balance of our holding, ultimately can see the $130-$140 area on the upside hence we’re unlikely sellers.

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