I am a huge fan of accounting software provider Xero (XRO). Talk to any small business owner or their accountant, the chances are that they will also sing the praises of Xero. A New Zealand company by origin, It went to the cloud first and left established competitors, including MYOB and global player Intuit (QuickBooks), in its wake.
It has also been a hit with investors, being one of Australia’s best performing tech stocks. But in the last 12 months, it has struggled to get through the $155 share price level, failing three times. The latest failure came last week after it released its profit results for the first half of FY22.
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