Barclays downgrades Sage Group to ‘underweight’
Sage Group
1,077.50p
16:45 14/11/24
0.80%
8.50p
Barclays downgraded Sage Group on Monday to ‘underweight’ from ‘equalweight’ and cut the price target to 985p from 1,050p.
FTSE 100
8,071.19
16:49 14/11/24
n/a
n/a
FTSE 350
4,459.02
16:38 14/11/24
n/a
n/a
FTSE All-Share
4,417.25
16:54 14/11/24
n/a
n/a
Software & Computer Services
2,485.46
16:38 14/11/24
0.92%
22.57
The bank said annualised recurring revenue (ARR) growth and the pace of margin expansion peaking, combined with an elevated valuation, "all suggest it's as good as it gets for Sage shares".
"With NCA growth slowing and risks to NRR from the macro backdrop, we see better value elsewhere," Barclays said.
At 1320 GMT, the shares were down 0.5% at 1,146p.