It's been a great day for the S&P/ASX 200 Index (ASX: XJO) and many ASX 200 shares this Thursday. For one, the ASX 200 Index has just hit a new all-time high – 8,515.7 points. For another, we've also seen a bevvy of new 52-week and all-time highs as well, including the Xero Ltd (ASX: XRO) share price.
Yep, we've seen new highs for a range of ASX 200 shares, including Macquarie Group Ltd (ASX: MQG), Aristocrat Leisure Ltd (ASX: ALL), Coles Group Ltd (ASX: COL) and QBE Insurance Group Ltd (ASX: QBE). But let's talk about the ASX 200 tech stock and accounting software provider Xero.
The Xero share price closed at a flat $180 a share yesterday afternoon. This morning, those same shares opened at that $180.9 level before rising as high as $182.30. Not only is that a new 52-week high for Xero, but a new all-time record high.
At present, Xero stock has cooled off a little but remains up by 0.09% at $180.16 a share.
It's unclear what has caused this new record high for the Xero share price. There hasn't been any fresh news or announcements out of Xero today, or indeed over 2025 so far.
However, it must be noted that Xero shares have been in hot demand of late. The company is now up an impressive 7.56% in just the past month alone. Investors have also sent Xero shares up by more than 62% over the past 12 months.
Image source: Getty Images
Xero share price: Too late to buy?
Many investors might be wondering whether it is too late to buy into the Xero share price, considering these impressive gains are now baked in.
Well, it's not, at least according to one ASX expert.
As we covered earlier this week, ASX broker Goldman Sachs remains bullish on the Xero share price.
Goldman has recently given Xero a 'buy' rating alongside a 12-month share price target of $201 per share. If realised, this would see Xero climb by another 11.3% from the present levels.
Goldman's optimism is based on a projection that Xero will continue to be able to deliver strong growth numbers going forward. Here's what the broker had to say on that:
We are positive on the CY25 outlook as given that accelerating product cadence is supporting subscriber and ARPU growth in ANZ and abroad. However, we expect a step-up in US investment this year, presenting risk to consensus margins – but are increasingly positive on this opportunity.
Xero shareholders and those wondering whether they've missed the boat will undoubtedly be very happy to hear this outlook. But we'll have to wait and see what happens.
At the current Xero share price, this ASX 200 stock is trading on a price-to-earnings (P/E) ratio of 142.1.
