The Sage Group (LON:SGE) was downgraded by equities research analysts at Deutsche Bank to a “sell” rating in a research note issued on Monday. They currently have a GBX 540 ($6.89) price target on the stock, down from their prior price target of GBX 630 ($8.04). Deutsche Bank’s price objective suggests a potential downside of 13.63% from the company’s current price.
A number of other analysts have also recently weighed in on the stock. Goldman Sachs Group reduced their price objective on shares of The Sage Group from GBX 925 ($11.80) to GBX 780 ($9.95) and set a “buy” rating for the company in a research note on Monday, April 23rd. Barclays restated an “equal weight” rating on shares of The Sage Group in a research note on Tuesday, July 10th. Canaccord Genuity restated a “sell” rating and issued a GBX 540 ($6.89) price objective on shares of The Sage Group in a research note on Thursday, June 21st. Credit Suisse Group cut their target price on shares of The Sage Group from GBX 790 ($10.08) to GBX 650 ($8.29) and set a “neutral” rating for the company in a research note on Thursday, May 3rd. Finally, Shore Capital cut their target price on shares of The Sage Group from GBX 672 ($8.57) to GBX 640 ($8.16) and set a “buy” rating for the company in a research note on Wednesday, May 2nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of GBX 693.69 ($8.85).
Shares of The Sage Group stock opened at GBX 625.20 ($7.98) on Monday. The Sage Group has a 1-year low of GBX 613 ($7.82) and a 1-year high of GBX 825.20 ($10.53).
The Sage Group Company Profile
The Sage Group plc provides business management software and services for small and medium sized companies. It offers software and services for accounting and payroll, enterprise resource planning, customer relationship management, and payments. The company serves business owners, bookkeepers, and finance directors.
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