SAPE 1Q11 Revenues 4% Above Goldman Sachs' Estimate

According to a report by Goldman Sachs, Sapient Corp. SAPE reported 1Q11 revenues of $241 mn (+32% yoy; +8% qoq), 4% above Goldman Sachs' estimate. “Operating margin (ex. stock comp, amortization, and nonrecurring items) of 10.7% was 120 bps above our estimate, while operating EPS of $0.10 was $0.01 above our estimate on the same basis,” Goldman Sachs writes. “We maintain our above consensus 2011 EPS of $0.60 (+74% yoy) on 30% revenue growth (from 28%), 2012 EPS of $0.80 (+35% yoy) on 28% revenue growth, and 2013 EPS of $1.04 (+29% yoy) on 25% revenue growth. Our 12-month price target of $15 (25% potential upside) remains unchanged.” Sapient closed Thursday at $11.97.