Xero’s Strong Revenue Growth Likely to Continue but the Shares Remain Overvalued
We continue to believe narrow-moat Xero has excellent earnings growth prospects and the potential to create a significant global financial services platform. The company’s annual conference for accountants, Xerocon, provided further evidence of progress towards this goal, including the release of expense and project management applications, and functionality to make payments from within its software. We expect the company to continue to expand its platform into new segments and geographies which...Xero is engaged in the provision of a platform for online accounting and business services to small businesses.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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