Business
The Pushpay (ASX:PPH) share price jumped 80% in 2020: Can it go higher?
The Pushpay Holdings Ltd (ASX: PPH) share price was on form again in 2020 and surged notably higher.
Over the 12 months, the donor management and community engagement platform provider’s shares were up a sizeable 81%.
Why did the Pushpay share price jump 80% higher in 2020?
Investors were buying Pushpay’s shares in 2020 after it delivered exceptionally strong revenue and earnings growth despite the pandemic.
In FY 2020, the company reported a 33% increase in operating revenue to US$127.5 million. This was driven by a 39% increase in total processing volume to US$5 billion, a 42% lift in customer numbers to 10,896, and flat average revenue per user of US$1,317 per month.
While this growth was clearly very strong, it was…
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