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Highlights

  • Broker consensus data shows a “buy” rating on SiteMinder with a target price of AUD 7.56.
  • SiteMinder delivered ARR of AUD 273.0 million in FY25 and reported positive underlying EBITDA of AUD 14.3 million.
  • Megaport posted Group ARR of AUD 338 million in H1 FY26 and completed two acquisitions during the period.

Australia’s technology sector continues to face selling pressure, with the S&P/ASX 200 Information Technology Index (XIJ) falling sharply over the past year. While the broader market has posted gains, technology sector remained under pressure. Against this backdrop, broker consensus data shows positive ratings for two ASX-listed technology companies — SiteMinder Ltd (ASX:SDR) and Megaport Ltd (ASX:MP1).

Tech Index Under Pressure as Broader Market Advances

The S&P/ASX 200 Information Technology Index closed at 1,604.40 on 24 February, down 57.50 points or 3.46% for the day. The sector index has declined 23.38% over the past month and is down 39.67% over the past year.

In contrast, the broader S&P/ASX 200 (ASX: XJO) finished at 9,022.30, easing 0.041% on the day. The benchmark index has risen 0.90% over the past month and gained 8.60% over the past year.

The divergence highlights the extent of the pullback across technology stocks compared with the wider market.

Broker Consensus Flags SiteMinder as Buy

Shares of SiteMinder closed at AUD 2.94 on 24 February, down 11.71% for the session and 53.70% over the past year. Despite this decline, Refinitiv data indicates a consensus “buy” rating on the stock, with a target price of AUD 7.56.

In its FY25 results, the company outlined acceleration in annual recurring revenue (ARR) and total revenue growth. ARR rose 30.6% year-on-year to AUD 273.0 million, while total revenue increased 17.7% to AUD 224.3 million.

Subscription ARR climbed to AUD 158.9 million, and transaction ARR reached AUD 114.1 million. Net property additions totalled 5.6k, bringing the overall property base to 50.1k.

SiteMinder also reported underlying EBITDA of AUD 14.3 million for FY25, compared with AUD 0.9 million in FY24. Underlying free cash flow turned positive at AUD 4.7 million. Available funds stood at AUD 64.0 million, including AUD 33.4 million in cash and AUD 30.6 million in undrawn debt facilities.

The company has outlined initiatives to scale its Smart Platform in FY26, targeting further ARR and revenue expansion alongside improvements in EBITDA and free cash flow metrics.

Megaport Reports ARR Growth and Acquisitions

Megaport shares closed at AUD 7.38 on 24 February, down 7.29% for the day and 34.98% over the past year. Refinitiv data indicates a consensus “buy” rating on the stock, with a target price of AUD 16.37.

In its H1 FY26 results for the six months to 31 December 2025, the company reported Group Annual Recurring Revenue of AUD 338 million, up 49% year-on-year, including acquisitions. Revenue for the half reached AUD 134.9 million, a 26% increase compared with H1 FY25.

EBITDA totalled AUD 35.3 million for the period. The company also completed two acquisitions — Latitude.sh and Extreme IX — and raised AUD 218.2 million in capital during the half.

Excluding acquisition costs of AUD 15.8 million, underlying net loss for the period was AUD 3.3 million.

While the S&P/ASX 200 Information Technology Index has recorded steep declines over the past year, selected ASX-listed technology companies continue to receive favourable broker consensus ratings. SiteMinder and Megaport have both reported revenue expansion and operational developments in their latest financial updates. As the broader technology sector navigates ongoing volatility, these companies remain among those attracting positive analyst attention.

Frequently Asked Questions

  1. How has the S&P/ASX 200 Information Technology Index performed recently?
    The index is down 23.38% over the past month and 39.67% over the past year, significantly underperforming the broader ASX 200.
  2. What is the broker consensus rating for SiteMinder?
    According to Refinitiv data, SiteMinder has a consensus “buy” rating with a target price of AUD 7.56.
  3. What were Megaport’s key H1 FY26 financial results?
    Megaport reported revenue of AUD 134.9 million, Group ARR of AUD 338 million, and EBITDA of AUD 35.3 million for the half-year period.