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Why the Pushpay (ASX:PPH) share price could shoot higher today

The Pushpay Holdings Ltd (ASX:PPH) share price could be heading higher today after naming its new CEO and upgrading its guidance…
The post Why the Pushpay (ASX:PPH) share price could shoot higher today appeared first on The Motley Fool Australia. –

woman throwing arms up in celebration whilst looking at asx share price rise on laptop computer

The Pushpay Holdings Ltd (ASX: PPH) share price will be one to watch today after the donor management and community engagement platform provider released two announcements.

What did Pushpay announce?

The first announcement revealed that Pushpay has found its new Chief Executive Officer.

The company has appointed its current Chief Customer Officer, Molly Matthews, as its new leader. Matthews will succeed Bruce Gordon, who has been in the Chief Executive Officer role on an interim basis since June 2019.

Pushpay’s Chairman, Graham Shaw, commented: “The Board is delighted to announce the appointment of Molly Matthews as Chief Executive Officer. Molly has a deep understanding of the US faith and non-profit marketplaces and exceptional customer knowledge which is critical to Pushpay’s success. Molly brings a proven strategic capability to the role focused on continued growth and expansion by delivering on our strategic goals.”

Trading update.

Pushpay’s second announcement reveals that its performance in the latter weeks of the calendar year exceeded expectations.

The company’s strong processing volume achieved in December, combined with continued operating leverage improvements, has led to it upgrading its guidance yet again.

In November, Pushpay upgraded its EBITDAF guidance for the year ending 31 March 2021 to between US$54 million and US$58 million.

Whereas it now expects EBITDAF for the year to be between US$56 million and US$60 million. This will be up 123% to 139% on FY 2020’s EBITDAF of US$25.1 million.

Though, management has warned that uncertainties and impacts surrounding COVID-19 and the broader US economic environment remain.

What else did it say?

The company also advised that it has allocated an initial investment of resource into developing and enhancing the customer proposition for the Catholic segment of the US faith sector.

Management notes that a focused investment into the Catholic segment represents a significant milestone as Pushpay continues to execute on its strategy to become the preferred provider of mission critical software to the US faith sector.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of PUSHPAY FPO NZX. The Motley Fool Australia has recommended PUSHPAY FPO NZX. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the Pushpay (ASX:PPH) share price could shoot higher today appeared first on The Motley Fool Australia.

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