Jarden still sees Xero as a strong-performing market leader, but says at recent trading levels, its valuation has become "increasingly stretched". On October 10, with Xero trading at A$114.58, Harbour Asset Management portfolio manager Shane Solly told the Herald, "It's still one of our largest active investments. But RBC is picking there will be further stimulus spending that will keep small businesses (Xero's main target) relatively buoyant. In a market filing, Xero indicated the move could be part of a broader push into financing. "Post the acquisition of Waddle, Xero will continue to explore how to facilitate small business access to capital beyond invoice financing," it said.

Source: New Zealand Herald October 22, 2020 02:17 UTC