Why Did Pushpay Holdings Ltd [NZX:PPH] Rise 5.86% Today?

Pushpay is a Kiwi company which provides software to the non-profit sector, focusing on engagement, payment, and administration.

Today, following a period of downturn, their NZX share price has rebounded by over 5%.

The current share price is $3.22, and the company has a market capitalisation of $902.94 million.

 

What has caused the uptick for Pushpay?

Earlier in the month, the Pushpay share price started to tumble — dropping 22% from $3.72 to $2.90 between 7 November and 21 November.

This coincided with the company’s financial report released on 7 November.

On the face of it, the report appeared positive — the company expected to break even in December and achieve positive earnings in 2019.

Furthermore, the losses reported for the first half of the financial year were $4.4 million, down from $12.5 million the year before. On top of this was a 48% increase in revenue.

However, there was an unexpected development. Pushpay co-founder Eliot Crowther was engaged in divorce proceedings with his ex-wife, who claimed to have received insider knowledge that the company’s share price was headed for a downturn.

Pushpay chose not to comment on this personal matter.

Nonetheless, this gave investors anxiety, which in turn caused the share price to dip. However, the general mood has since stabilised, and investors have returned to a bullish outlook.

 

What’s next for [NZX:PPH] shares?

The fundamentals for Pushpay are strong. Now that investment jitters have settled down, we anticipate an upward trajectory for Pushpay shares.

 

Best,

Taylor Kee
Editor, Money Morning New Zealand

PS: Nearly half of all Kiwis are concerned that they won’t have enough saved for retirement. Are you in that boat? The free investor report available here could help you make the most of Kiwisaver, so you can fund the retirement you deserve. Download your free report to get started today.

 


Taylor Kee is the lead Editor at Money Morning NZ. With a background in the financial publishing industry, Taylor knows how simple, yet difficult investing can be. He has worked with a range of assets classes, and with some of the world’s most thought-provoking financial writers, including Bill Bonner, Dan Denning, Doug Casey, and more. But he’s found his niche in macroeconomics and the excitement of technology investments. And Taylor is looking forward to the opportunity to share his thoughts on where New Zealand’s economy is going next and the opportunities it presents. Taylor shares these ideas with Money Morning NZ readers each day.


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