If you haven't heard of Melbourne-born online job search and education company Seek Limited (ASX: SEK), chances are your self-employed or a precious commodity to your organisation. For those of us who've needed a job in the 21st century, Seek is the one-stop shop – the first point of call for all wannabe employees.
Founded in Melbourne in 1997, Seek's domination of the Australian employment market has been rapid and given employers and employees everything they have searched for. Despite having high prices, advertisers and jobseekers are addicted to the largest employment website Australia has to offer. The company's job site has 150,000 jobs online and boasts 14.7 million visits each month. It's a staggering figure considering the population of our nation, but the market thinks it's got more growth in store.
With a P/E of over 27, Goldman Sachs and CSLA justifiably upgraded their price target. It is an expensive company but the market is seeking the future. Since December 2012, Seek's share price has risen 60% — it looks like investors have found what they were searching for.
With an accomplished domestic market, Seek's future is overseas. Domestic operating revenue retreated 2% for their first half results of FY13 compared to the same period in 2012, but its international operating revenue increased a staggering 223%.
Despite competition from Monster Worldwide (NYSE: MWW), Seek is defiant through its Australian subsidiary Careerone.com.au. Beginning its own international campaign in South East Asia, China, Brazil and Mexico, it is giving investors many reasons to keep them as a growth company in their portfolios.
Foolish takeaway
Whether you are unemployed, employed or a student, Seek has everything to offer. Increasing its international market share has shortlisted it in many investor's portfolios. A growing online environment with huge international partners and aggressive expansion could mean Seek is about to make investors rich.
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The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. Motley Fool contributor Ryan Newman does not own shares in any of the companies mentioned in this article.
