2356 GMT - Xero's lower-than-expected cost-to-revenue ratio makes the cloud-accounting software provider's full-year guidance look conservative, Jefferies analyst Roger Samuel says. Xero is still forecasting a 73% full-year cost ratio despite a fiscal first-half cost ratio of 71% and lower product design and development costs. Samuel suggests that the discrepancy could imply higher earnings expectations across fiscal 2025. Overall, he tells clients in a note that Xero's latest result looks strong. Jefferies has a buy rating and A$175.40 target price on the stock, which is up 6.1% at A$171.42. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 13, 2024 18:56 ET (23:56 GMT)
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