Sapiens International (NASDAQ:SPNS) Announces Quarterly Earnings Results

Sapiens International (NASDAQ:SPNS) announced its earnings results on Thursday. The technology company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01, Briefing.com reports. The business had revenue of $136.80 million during the quarter, compared to analysts’ expectations of $137.78 million. Sapiens International had a return on equity of 17.82% and a net margin of 12.92%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.31 earnings per share. Sapiens International updated its FY 2024 guidance to EPS.

Sapiens International Trading Down 1.2 %

Shares of SPNS traded down $0.42 during mid-day trading on Friday, reaching $35.72. The stock had a trading volume of 185,100 shares, compared to its average volume of 232,510. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.84 and a quick ratio of 1.84. Sapiens International has a 52-week low of $24.39 and a 52-week high of $41.22. The business’s fifty day moving average is $35.54 and its 200 day moving average is $32.28. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 30.53 and a beta of 1.22.

Analyst Ratings Changes

A number of brokerages have weighed in on SPNS. StockNews.com upgraded Sapiens International from a “buy” rating to a “strong-buy” rating in a report on Sunday. The Goldman Sachs Group upped their target price on shares of Sapiens International from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Friday. Needham & Company LLC upped their target price on shares of Sapiens International from $38.00 to $44.00 and gave the stock a “buy” rating in a report on Friday. Finally, Barclays upped their target price on shares of Sapiens International from $30.00 to $38.00 and gave the stock an “underweight” rating in a report on Friday.

About Sapiens International

Sapiens International Corporation N.V. provides software solutions for the insurance industry in North America, the United Kingdom, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company provides various solutions for property and casualty commercial and personal lines, life and pensions, and reinsurance fields.