Roth Capital Downgrades Sapiens International Corp. NV (SPNS) to Neutral

Roth Capital downgraded Sapiens International Corp. NV (NASDAQ: SPNS) from Buy to Neutral with a price target of $12.00 (from $13.00).

Analyst Richard Baldry commented, "Sapiens' 3Q15 results were solid, with revenues and EPS moderately above our estimates. However, soft YTD software sales, moderated growth and significant near-term hiring leave EPS modeled range-bound until 3Q16. Given a premium earnings multiple (20x its current peak run-rate) has developed after two years of share appreciation (up nearly 2x) outpacing EPS growth (up 20% comparing 3Q13 to 3Q15), we see downside multiple risk and are lowering our target price to $12.00 and our rating to Neutral accordingly."

For an analyst ratings summary and ratings history on Sapiens International Corp. NV click here. For more ratings news on Sapiens International Corp. NV click here.

Shares of Sapiens International Corp. NV closed at $11.41 yesterday.

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