2340 GMT - Lower-than-expected growth in SiteMinder's operating expenses could indicate nervousness at the accommodation-tech provider's revenue outlook, Citi analyst Siraj Ahmed says. He tells clients in a note that LinkedIn data indicates on-year headcount growth of just 4%. That suggests that annual operating-expense growth is tracking lower than his 10% forecast. This is positive for both free cashflow and operating expenses but hints at potential uncertainty over future sales, Ahmed says. Citi has a buy rating and A$7.20 target price on the stock, which is up 2.5% at A$6.67. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
October 27, 2024 19:40 ET (23:40 GMT)
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