Siteminder well-placed to deliver 25% revenue growth in two years - Citi

SiteMinder

21/10/2022 03:34

** Citi says it sees Australian technology firm Siteminder
Ltd  SDR.AX  well placed to deliver 25% revenue growth over the
next two years 
    ** Says co's Q1 FY23 reveue of A$35.7 mln ($22.39 mln)
suggests upside to its 1H estimate of A$69 mln considering that
Q2 is seasonally stronger 
    ** Further says while Q1 had a slight FX headwind, it
expects a FX headwind in Q2 due to weakening AUD
    ** Six of seven analysts rate the stock "buy" or higher, one
"hold" and none "sell" or lower; their median PT is A$5.73 –
Refinitiv data
    ** Stock has fallen 56.95% this year as of last close 
($1 = 1.5944 Australian dollars)
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))