Sapiens International falls after downbeat results, forecast cut

Sapiens International NV

11/11/2024 11:57

** Sapiens International's  SPNS.O  shares fall 21.4% to $31
premarket
    ** Company, which provides software solutions for insurance
industry, reports Q3 revenue of $137 mln vs est $140.1 mln -
LSEG
    ** Reports Q3 adj EPS of 37 cents/shr vs est 38 cents/shr
    ** Company lowers 2024 adj revenue forecast range to $541
mln-$546 mln from $550 mln-$555 mln
    ** Analysts expect FY24 revenue of $552.7 mln
    ** "Looking into 2025, we anticipate a low single-digit
revenue growth" - CEO Roni Al-Dor
    ** 2 of 5 brokerages rate the stock "buy" or higher, 1
"hold" and 2 "sell"; median PT $40
    ** Company's shares up 36.3% YTD

(Reporting by Abhinav Parmar in Bengaluru)
((Abhinav.parmar@thomsonreuters.com))