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Fly News Breaks for August 5, 2019
SPNS
Aug 5, 2019 | 14:41 EDT
Roth Capital analyst Richard Baldry raised his price target for Sapiens to $8.75 from $5 to reflect the adoption of a stable dividend policy. The analyst notes that Sapiens' Q2 revenues grew 10% year over year, a level he views as poor given strong growth across the software sector. While cost cutting has improved profitability, Baldry views Sapiens' valuation as too rich for a slow-growth, IT-services-centric company. He reiterates a Sell rating on the shares.
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