The Sage Group (LON:SGE) Raised to "Hold" at Canaccord Genuity Group

Key Points

• Canaccord Genuity upgraded The Sage Group to “Hold” and raised its price target from GBX 1,135 to GBX 1,230, implying 5.62% potential upside.
• Analyst sentiment remains generally positive, with four Buy and four Hold ratings; MarketBeat reports a consensus rating of “Moderate Buy” and an average target of GBX 1,107.86.
• Sage shares fell 0.5% to GBX 1,164.50 in Monday trading, while the company’s market capitalization stood at approximately £10.49 billion.

The Sage Group (LON:SGE - Get Free Report) was upgraded by stock analysts at Canaccord Genuity Group to a "hold" rating in a note issued to investors on Monday, London Stock Exchange reports. The brokerage presently has a GBX 1,230 target price on the stock, up from their previous target price of GBX 1,135. Canaccord Genuity Group's price target points to a potential upside of 5.62% from the company's current price.

Several other analysts also recently commented on the stock. Citigroup raised their price objective on shares of The Sage Group from GBX 1,050 to GBX 1,150 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of The Sage Group from GBX 900 to GBX 1,050 and gave the company a "hold" rating in a research note on Thursday, July 30th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a GBX 1,000 price objective on shares of The Sage Group in a report on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 1,107.86.

The Sage Group Trading Down 0.5%

SGE stock traded down GBX 5.70 during mid-day trading on Monday, reaching GBX 1,164.50. The company's stock had a trading volume of 3,076,465 shares, compared to its average volume of 36,757,016. The Sage Group has a 12 month low of GBX 771.66 and a 12 month high of GBX 1,198.50. The company has a current ratio of 0.62, a quick ratio of 0.58 and a debt-to-equity ratio of 919.09. The business's 50 day moving average price is GBX 1,051.26 and its 200 day moving average price is GBX 940.25. The company has a market cap of £10.49 billion, a price-to-earnings ratio of 29.33, a price-to-earnings-growth ratio of 1.22 and a beta of 0.35.

About The Sage Group

The Sage Group plc, together with its subsidiaries, provides technology solutions and services for small and medium businesses in the United States, the United Kingdom, France, and internationally. It offers cloud native solutions, such as Sage Intacct, a cloud accounting software product and financial management software; Sage People, a HR and people management solution; Sage 200, a finance and business management solution; Sage X3, a business management solution; Sage Accounting, a solution for small businesses, accountants, and bookkeepers to manage customer data, accounts, and people; Sage Payroll for small businesses manage their payroll; and Sage HR for small and mid-sized businesses for record management, leave management, staff scheduling, and expenses services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.