Jefferies sees growth potential in Australia's SiteMinder as it shifts to revenue platform

SiteMinder

23/09/2025 20:54

** Jefferies says SiteMinder's SDR.AX transition from a channel manager to a global revenue platform could unlock significant growth, driven by new Smart Platform products like Dynamic Revenue+

** Adds, the strategy enables the hotel management software provider to take a clip of transaction value, expanding its total available market while enhancing unit economics

** Brokerage further emphasises the transition proceeds while preserving financial discipline

** SDR's valuation remains attractive, trading on 7.5x FY26 enterprise value to sales vs 9.4x for peer Megaport MP1.AX - Jefferies

** As of last close, MP1 has more than doubled in value YTD, surging 123% and eclipsing SDR's modest 20.4% gains

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))