SiteMinder Ltd (ASX: SDR) shares have enjoyed a strong year in 2025.
This technology stock has risen 25.59% since the start of the year.
For context, the S&P/ASX All Technology Index (ASX: XTX) is up just 5% in that same period.
The company provides an e-commerce platform for hotels and other accommodation businesses. The company touts its product as helping hotels to sell, market, manage, and grow their businesses from one platform.
However, after yesterday's AGM announcement, SiteMinder shares have opened today down 2%.
Broker Macquarie today released a new report on SiteMinder shares, including an adjusted price target.
SiteMinder shares tipped to outperform
It seems the broker is optimistic on the outlook for SiteMinder shares.
Macquarie said strong revenue momentum has continued and reinforces its view that the company will rapidly grow revenue.
Strong rev momentum has continued and reinforces our view SDD will rapidly grow rev on continued market share growth and transaction product adoption. Smart Platform represents material upside rev potential and, if successfully executed, should support a long-term rerating.
The broker has an outperform rating on SiteMinder shares.
It noted that positive momentum from the end of FY25 has continued into FY26.
It said it expects ARR growth to accelerate further into 2H26, as Smart Platform revenue ramps up.
Macquarie also said the company has scope to re-rate further.
When we initiated on SDR, it was trading on c.4x NTM EV/sales. We believed this was undervalued, and it has since re-rated to c.7x. We see scope for a further re-rate.
Target price increase
At the time of writing, shares are trading at approximately $7.50.
Based on its analysis, Macquarie has increased its target price by 5% to $8.55 (previously $8.11).
This indicates an upside of 14%.
Macquarie aren't the only analysts with a positive outlook on SiteMinder shares.
Ord Minnett has an optimistic rating and long-term outlook on the company, with a long term view its share price could reach $10.
Elsewhere, UBS has a buy rating on the ASX tech share, with a price target of $8.30.
