UPDATE: Wells Trims Price Target and Downgrades Sapient (SAPE), Expects Cautious Nitro Segment
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Price: $11.71 --0%
Rating Summary:
2 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 16 | New: 13
Rating Summary:
2 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 16 | New: 13
Trade SAPE Now!
(Updated - August 8, 2012 8:31 AM EDT)
Wells Fargo downgraded Sapient (NASDAQ: SAPE) to Market Perform and trimmed the price target on the stock to $10.50 (from $13.50).
Analysts at the bank, led by Edward Caso, said "The 2012 revenue growth outlook was lowered to 8-10% (from 13-16% previously), as SAPE saw delayed project starts and slow client decision-making in the pipeline for its Nitro segment beginning midway through Q2. Management indicated that clients were increasingly cautious on the economic outlook and internal budgets were tightened, although noted that projects were not cancelled and win rates remained strong."
For an analyst ratings summary and ratings history on Sapient click here. For more ratings news on Sapient click here.
Shares of Sapient closed at $10.12 yesterday, with a 52 week range of $9.00-$13.88.
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Wells Fargo downgraded Sapient (NASDAQ: SAPE) to Market Perform and trimmed the price target on the stock to $10.50 (from $13.50).
Analysts at the bank, led by Edward Caso, said "The 2012 revenue growth outlook was lowered to 8-10% (from 13-16% previously), as SAPE saw delayed project starts and slow client decision-making in the pipeline for its Nitro segment beginning midway through Q2. Management indicated that clients were increasingly cautious on the economic outlook and internal budgets were tightened, although noted that projects were not cancelled and win rates remained strong."
For an analyst ratings summary and ratings history on Sapient click here. For more ratings news on Sapient click here.
Shares of Sapient closed at $10.12 yesterday, with a 52 week range of $9.00-$13.88.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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