Seek Needs to Keep Reinvesting Amid Slowing Activity

Dow Jones
07/23

0002 GMT - Seek's bull at Citi says disruption risk means the jobs advertiser needs to keep reinvesting in its business amid slowing hiring activity. Cutting his FY 2027 forecast for local ad volumes by about 3%, analyst Siraj Ahmed tells clients in a note that he expects Seek to respond to slowing revenues by moderating total spending growth from about 7% in the fiscal year that ended June 30 to 5% in FY 2027. However, he stresses that Seek must keep investing in its brand as well as candidate experience and engagement. Citi keeps a buy rating on the stock but cuts its target price 22% to A$18.00 on lower volume expectations. Shares are down 0.9% at A$13.65.(stuart.condie@wsj.com)

 

(END) Dow Jones Newswires

July 22, 2026 20:02 ET (00:02 GMT)

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