JPMorgan Downgrades Sapiens International To Neutral, Sees 38% Upside

JPMorgan analyst Jackson Ader downgraded Sapiens International Corp NV SPNS to Neutral from Overweight with a $35 price target after assuming coverage of the name.
The price target implies a 37.9% upside potential.
Ader expects the company's growth to be in the high single digits over the next few years, below expectations for peers, which presently benefitted from the cloud transition among larger customers.
Ader believes Sapiens will trade at a discount to Duck Creek Technologies Inc DCT and Guidewire Software Inc GWRE.
Price action: SPNS shares traded lower by 2.22% at $25.57 on the last check Tuesday.