Australia's SiteMinder up; Morningstar says AI less likely to disrupt business
BUZZ-Australia's SiteMinder up; Morningstar says AI less likely to disrupt business ** Shares of SiteMinder SDR.AX rise as much as 2.2% to A$4.15
** Morningstar maintains its fair value estimate for co at A$11, saying the stock is 'materially undervalued', and has adjusted near-term revenue forecasts reflecting the impact of the Iran war
** Markets have become enamored with the promise of AI, which has depressed sentiment in many other sectors, including software as a service, bu the pessimism for SaaS seems excessive, in our view - Morningstar
** Brokerage sees AI assisting as travel agents, similar to travel search, but unlikely to become the dominant channel for travel booking
** Adds co is more likely to be a consolidator than a subject of disruption
** Down ~32% YTD, including the session's moves
(Reporting by Anjali Singh in Bengaluru)
Recent news on SiteMinder
See all newsBrief: Siteminder Ltd Announces Executive Leadership Appointments
Brief: Siteminder Posts Full-Year Subscription Revenue Of AUD 155.2 Million
Australia's SiteMinder rises; Jefferies says travel reopening after Mideast war to benefit company
Travel reopening after Mideast war to benefit Australia's SiteMinder, Jefferies says
Australia's SiteMinder up; Morningstar says AI less likely to disrupt business