The PUSHPAY FPO NZX (ASX: PPH) share price has surged today following a market update this morning.
Pushpay Holdings Share Price
In an announcement to the ASX this morning, Pushpay, a leader in church donation payment processing software, reported an updated financial outlook. The company services 50 of the 100 largest churches in the US, based on a study by Outreach Magazine.
Today, Pushpay brought forward its annualised committed monthly revenue (ACMR) target of US$100 million to 31 December 2017.
“Pushpay continues to secure its market leading position in a growing sector and has subsequently brought forward its US$100 million ACMR target from 31 March 2018 to 31 December 2017,” Pushpay CEO Chris Heaslip said. “US$100 million ACMR is a significant milestone in our Company’s journey and our new target date means Pushpay will be achieving this milestone within 27 months after reaching US$10 million ACMR.”
“Our goal is to reach the milestone of US$10 billion in Annualised Monthly Payment Transaction Volume, representing less than 10% of annual giving to religious organisations in the US.”
Pleasingly, the company said it was on track to meet its revenue guidance of US$70 million and monthly breakeven cash flow by the end 2018.
Religion and technology. Two sectors which have proven to be extremely lucrative for nonprofits and for-profits alike.
Although Pushpay shares have rallied strongly in 2017 — and despite the company’s shares trading at eight times its sales — I think Pushpay deserves to be on your investing watchlist in 2017.
5 stocks under $5
We hear it over and over from investors, "I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I'd be sitting on a gold mine!" And it's true.
And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!
*Extreme Opportunities returns as of June 5th 2020
The Motley Fool Australia owns shares of PUSHPAY FPO NZX. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
- ALL ORDINARIES finishes higher Monday: 10 shares you missed – October 30, 2017 4:44pm
- Are these the secrets behind Australia’s best ASX investors? – October 30, 2017 3:43pm
- My Aussie Share Market Investing Do’s of 2017/2018 – October 30, 2017 1:13pm