Following its latest result, the open hotel commerce platform surged above $6, which showed impressive annualised reoccurring revenue of $209mn. This $1.8bn business is in its relative infancy, and management continues to target +30% medium-term organic revenue growth; it may feel expensive today but it won’t in a few years’ time.
- We like SDR, and believe it’s setting excellent foundations for medium/long-term solid growth; our ideal entry is now ~$6. We covered SDR in more detail recently here.
MM is cautiously bullish toward SDR above $6.50
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