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Xero Ltd (XRO) $116.65

This online cloud-based accounting software is aimed at small and medium-sized businesses and they already have ~4 million subscribers globally, with AI offering the ability to help turn the dial on this number. Over the last few years, XRO has been investing in AI, adding features that reduce errors from manual entry, saving businesses time and money, or, in other words, improving their underlying product. In 2021, they launched Analytics Plus, which offers planning and forecasting tools, all of which are powered by AI. In September last year, XRO went into partnership with PrimeGlobal, taking its AI-powered bank reconciliation technology into over 110 countries.  A clear and encouraging path is already being trodden by this NZ-based technology business.

  • We continue to target the $130+ area for XRO through 2024 – MM owns XRO in our Active Growth portfolio.
XRO
MM is long and bullish toward XRO
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Xero Ltd (XRO)
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