Citi raises revenue estimates for NZ's Serko on 'strong start'

Serko

28/06/2023 22:07

** Analysts at Citi upgrades FY24 revenue estimates by 4% on
business travel software maker Serko  SKO.NZ , reflecting a
strong start to the year
    ** New Zealand's Serko on Wednesday said it anticipates
total income for fiscal 2024 to be above midpoint of guidance
range of NZ$63 million($38.25 million) to NZ$70 mln
    ** Brokerage raises price target by 6%, reiterates "buy"
rating
    ** Also expects partnership with Booking.com to be renewed
and sees it to accelerate active customer growth
    ** Five of seven analysts rate the stock "buy" or higher and
two "hold"; their median PT is NZ$4.10 – Refinitiv data
    ** Stock has risen 60% this year, as of last close

($1 = 1.6469 New Zealand dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))