Needham & Company reiterated a Buy rating on Sapiens International Corp. NV (NASDAQ: SPNS), and raised the price target to $15.00 (from $14.00), following the company's 4Q earnings report. SPNS reported 4Q revenue of $48.7 million, up 16.5% Y/Y, in-line with Needham's $48.8 million estimate. SPNS posted $0.13 in EPS, a penny above consensus. Management introduced upbeat FY16 guidance that is above consensus, with revenue guidance of $207-211 million.

Analyst Mayank Tandon commented, "Sapiens (SPNS) delivered another solid quarter, comfortably exceeding our and consensus estimates, to finish FY15 on a strong note. Customer demand and win rates remain healthy as SPNS continues to benefit from the secular tailwinds as insurance carriers move from in-house to third-party software solutions. Management introduced upbeat guidance for FY16 that is not only above consensus but also calls for another year of 15%+ organic growth and operating margin expansion. We are raising our FY16 estimates, introducing a strong growth outlook for FY17, and raising our target to $15. We continue to see SPNS as a solid fit for small-cap GARP portfolios and we reiterate our BUY rating."

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Shares of Sapiens International Corp. NV closed at $10.08 yesterday.