Goldman Sachs upgrades Seek to 'neutral' as share price slides

The news: Goldman Sachs has upgraded its rating on job listings platform Seek from 'sell' to 'neutral', noting that recent positive updates and share price weakness have driven a more balanced risk-reward for the company.

The numbers: Goldman Sachs lifted its target price on the stock from $24 to $25.

Seek last closed at $23.16, down 11% since 19 February, the day after the release of its half-year result.

The context: Goldman Sachs analysts said Seek's half-year result was a "constructive update", partly addressing a number of their key concerns. Job advertisements on the platform also grew 5.1% sequentially in January 2025, the company's largest monthly jump since October 2021. The analysts now forecast 3.5% growth in volumes in FY26, up from their previous estimate of 1% growth.