The Xero Ltd (ASX: XRO) share price has been one of the worst performers in the S&P/ASX 200 Index (ASX: XJO) in recent history. In the last year alone (at the time of writing), the Xero share price has dropped more than 60%, as the below chart shows.
As an accounting software business, Xero has been one of the victims of the big decline in investor confidence surrounding software companies.
But, I think the business has been significantly oversold, and now looks very good value for three reasons.
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Ongoing revenue growth
Firstly, the decline in the share price suggests a bleak future. However, while we can’t know for certain what the future holds (positively or negatively), revenue (and subscriber) numbers…
