0213 GMT - SiteMinder's relatively full valuation and the early-stage nature of its new products keep Goldman Sachs analysts neutral on the stock. They tell clients in a note that the accommodation-tech provider's 1Q update showed higher-than-expected growth in property additions, but they think that a normalization in global travel demand is likely to have a continued impact on transaction margins and uptake of products by customers. Progress on new products is seen as positive, but some way from making a meaningful contribution. GS lifts its target price by 7.0% to A$6.10. Shares are up 1.2% at A$6.70. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
October 28, 2024 22:13 ET (02:13 GMT)
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