Highlights

  • Ord Minnett initiated coverage with a Buy rating on Serko and a target price of NZD 5.75.
  • EODHD/Others data shows analyst consensus rating as Buy with an average target price of NZD 3.86.
  • Serko reported 45% growth in total income to NZD 61.8 million in 1H26, supported by higher travel activity and customer growth.

Travel technology company Serko Limited (NZX:SKO) saw its share price move higher on 6 March to NZD 1.91, after brokerage firm Ord Minnett issued a Buy rating with a target price of NZD 5.75. According to EODHD/Others data, the broader analyst consensus also places the stock in the Buy category with an average target price of NZD 3.86.

The unaudited interim results for the six months ended 30 September 2025 (1H26), showed increase in income and operational improvements while continuing to expand its presence in the United States and Australasia.

Travel Platform Activity Lifts Revenue

Serko reported total income of NZD 61.8 million for the first half of FY2026, representing a 45% increase compared with the same period a year earlier.

Growth was driven by increased activity through Booking.com for Business, the corporate travel platform developed in partnership with Booking Holdings. Completed room nights on the platform increased 32% to 2.1 million, supported by an expansion in the number of active customers.

Active customers rose 40% compared with the previous corresponding period, reflecting continued adoption of the company’s travel management tools.

US Expansion Adds Revenue Contribution

The acquisition of GetThere in January 2025 contributed to the company’s presence in the United States market.

Revenue from the US segment slightly exceeded expectations during the period, as previously anticipated customer exits progressed more slowly. The company reported that its customer base has stabilised, with new annual recurring revenue churn on key accounts around 1% of annualised revenue.

Serko also exited its InterplX expense management business on 30 September 2025 as part of efforts to narrow its strategic focus.

Operational Developments and Technology Focus

During the reporting period, Serko continued work on AI-enabled travel management capabilities. The company stated that it is collaborating with US customers on the development of AI-powered tools aimed at improving booking and travel management processes.

Management said early engagement with customers and prospects in the United States has been positive.

Key Financial Metrics

  • Total income: NZD 61.8 million
  • EBITDAFI: NZD 6.1 million
  • Net loss after tax: NZD 9.5 million
  • Free cash flow: NZD 3.0 million
  • Completed room nights: 2.1 million

Serko’s interim update showed higher platform activity and income growth during the first half of FY2026. The company continues to expand its corporate travel platform while investing in AI-enabled capabilities and refining its operating model. The recent Buy rating from Ord Minnett and the analyst consensus target tracked by EODHD/Others have drawn market attention to the stock following the company’s financial update.

FAQ

Why did Serko shares move higher?

Serko shares gained after brokerage firm Ord Minnett issued a Buy rating with a target price of NZD 5.75, which attracted investor attention to the stock.

What is the analyst consensus target price for Serko?

According to EODHD/Others data, the average analyst target price for Serko is NZD 3.86, with the overall consensus rating classified as Buy.

What were Serko’s main financial results for 1H26?

Serko reported total income of NZD 61.8 million, EBITDAFI of NZD 6.1 million, and free cash flow of NZD 3.0 million for the six months ended 30 September 2025.