Why Sapiens International Corporation N.V. Gained 19.7% in September
Sapiens International Corporation N.V.(NASDAQ: SPNS) saw its share price climb 19.7% in September, according to data from S&P Global Market Intelligence, with the movement stemming from the company receiving favorable ratings coverage and securing additional funding through a new bond offering.
Sapiens International is a small-cap insurance software company valued at roughly $670 million, and, as a result of its size, shares tend to fluctuate a good deal in relation to news stories.
Cowen and Company initiated coverage on the stock last month and gave the stock an "outperform" rating in a note published September 6. Sapiens also announced that it had issued a new series of debenture bonds for estimated aggregate proceeds of $12.9 million. The company indicated that it would use the offering to repay a bank loan, improve its balance sheet, and pursue potential mergers-and-acquisitions opportunities. Management had previously stated that the move would allow it to replace existing bank debt with a more favorable long-term interest rate.
Source: Fool.com
Sapiens International Corporation NV Stock
We see a rather positive sentiment for Sapiens International Corporation NV with 8 Buy predictions and 2 Sell predictions.
As a result the target price of 35 € shows a slightly positive potential of 10.76% compared to the current price of 31.6 € for Sapiens International Corporation NV.
