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Fly News Breaks for May 11, 2016
SPNS
May 11, 2016 | 08:43 EDT
Roth Capital downgraded Sapiens to Sell from Neutral after the company reported inline earnings, with "empty calorie" revenue upside unable to drive corresponding upside to earnings, and following recent share appreciation. Analyst Richard Baldry says software sales eroded steadily in 2015, leaving Sapiens unwilling to break out software contribution any longer. The analyst reiterates $11 price target on the shares.
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