Clare Capital - Updated target price for Pushpay
Clare Capital is providing an upwards revision of its 12 month target price for Pushpay to $4.92 per share, almost 25%
above the current price of $4.00.
Along with a calibration of financial performance to date, this upwards revision is based on the inclusion of volume
based transaction fees.
Pushpay provides mobile commerce tools facilitating fast, secure and easy non-point of sale payments between consumers
and merchants. Pushpay services three target markets: the Faith Sector; Non-Profit Organisations (NPOs) and Enterprises.
In the case of the Faith Sector, donations underpin the viability of their organisation. Pushpay’s product targets
electronic and, in particular, mobile donating, or as the Company’s slogan says “What if giving was simple?” The
business model, in principle is simple, adding value to the churches by providing software applications that make it
easier for the attendees to donate/“give”.
Pushpay Holdings Limited
More than a pure SaaS play
Pushpay not only provides the software to facilitate payments, but also collects volume based transaction fees on these
payments…
Most SaaS companies provide the client with a product that makes an aspect of their business easier in return for a
monthly recurring fee. Pushpay do this via a product which makes donating and paying easier, but they also collect a
percentage of the transaction volume passing through their platform – this is a key element of their story and a key
differentiator to many other SaaS companies. (extract from release link to full report below)