Why the Pushpay Holdings Ltd share price just raced to an all-time high

The Pushpay Holdings Ltd (ASX:PPH) share price has raced to an all-time high following the release of a positive update on its annualised committed monthly revenue target…

| More on:
technology shares

In morning trade the Pushpay Holdings Ltd (ASX: PPH) share price has raced higher following the release of a positive update.

At the time of writing the payment solutions company’s shares are up 5% to an all-time high of $3.99.

What was in the update?

This morning Pushpay advised that it has achieved its target of US$100 million in annualised committed monthly revenue (ACMR) ahead of schedule.

Originally the company had aimed to reach the ACMR milestone by the end of March 2018, but achieved it by the end of December.

Unsurprisingly, this strong performance means that Pushpay remains in a position to reach its FY 2018 revenue target of US$70 million. Furthermore, management continues to expect to be breakeven on a monthly cash flow basis by the end of the 2018 calendar year.

But the company isn’t resting on its laurels by any means. CEO and co-founder Chris Heaslip advised that the company intends to continue its focus on scaling the Pushpay business in the U.S. faith sector in order to maximise shareholder value over the long-term.

Should you invest?

I think that Pushpay is one of the most exciting fintech companies on the ASX at the moment alongside Afterpay Touch Group Ltd (ASX: APT) and EML Payments Ltd (ASX: EML).

However, its shares are a touch expensive after an impressive run last year, so they would be higher risk than the average investment. But ultimately I think the rewards on offer in the long-term more than make up for this.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO, Emerchants Limited, and 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.

More on ⏸️ Investing