Canaccord Genuity Group Forecasts Strong Price Appreciation for The Sage Group (LON:SGE) Stock

The Sage Group (LON:SGE) had its price target upped by Canaccord Genuity Group from GBX 970 ($12.16) to GBX 1,090 ($13.66) in a note issued to investors on Friday, Marketbeat Ratings reports. The brokerage currently has a “sell” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential downside of 15.24% from the company’s previous close.

A number of other brokerages have also weighed in on SGE. Citigroup boosted their target price on shares of The Sage Group from £135 ($169.24) to £145 ($181.77) and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. reduced their price objective on The Sage Group from GBX 1,300 ($16.30) to GBX 1,250 ($15.67) and set an “overweight” rating for the company in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of GBX 3,918 ($49.12).

The Sage Group Stock Performance

Shares of SGE stock opened at GBX 1,286 ($16.12) on Friday. The company has a quick ratio of 0.58, a current ratio of 0.72 and a debt-to-equity ratio of 115.72. The company has a 50 day moving average price of GBX 1,035.08 and a 200-day moving average price of GBX 1,052.99. The Sage Group has a 52 week low of GBX 954.20 ($11.96) and a 52 week high of GBX 1,320 ($16.55). The firm has a market capitalization of £12.81 billion, a PE ratio of 4,946.15, a P/E/G ratio of 1.22 and a beta of 0.53.

Insider Buying and Selling

In related news, insider Jonathan Howell sold 70,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of GBX 1,270 ($15.92), for a total transaction of £889,000 ($1,114,454.06). 1.08% of the stock is owned by insiders.

The Sage Group Company Profile

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.