Jefferies raises SiteMinder's PT on potential growth from new products

SiteMinder

17/10/2023 01:25

** Jefferies raises SiteMinder's  SDR.AX  price target on 
average revenue per user (ARPU) growth in medium term from two
new products 
    ** Brokerage raises PT to A$5.20 from A$5 for Australia's
open hotel commerce platform, rates "buy"
    ** SDR revealed two new products that are quite unique in
the industry, and we expect strong customer take-up over time,
contributing to ARPU growth in the medium term - Jefferies
    ** Jefferies says SDR is "still attractive" and is about to
hit EBITDA breakeven soon
    ** Eleven of 15 analysts rate stock "buy" or higher, three
"hold" and one "sell"; their median PT is A$5.23 - LSEG
    ** SDR stock down 1.3% at A$4.44 
    ** Stock up 48% YTD, as of last close 
 

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))