's price rise’s share price has been outperforming the market. That makes it comparatively more expensive.

Like most of the online classified companies,’s share price has been strong in a weak market. Investors seem to regard these stocks as somewhat defensive in the face of market declines and concerns about China.

This makes them look comparatively expensive, however. Particularly so now that is being rated on multiples similar to REA Group and Seek, both of which are businesses with better earnings growth potential over the long term.


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