Why Is Sapiens International Stock Trading Higher Today?

Sapiens International Corp NV SPNS reported second-quarter FY21 non-GAAP revenue growth of 23.6% year-on-year to $115 million. GAAP revenue increased 22.9% Y/Y to $114.4 million, beating the analyst consensus of $112.54 million.
The non-GAAP gross margin remained consistent at 45%, while the non-GAAP operating margin contracted 80 bps to 17.2%.
Non-GAAP EPS of $0.29 beat the analyst consensus of $0.26.
Sapiens generated $26.8 million in operating cash flow and held $175.8 million in cash and equivalents.
The unique value proposition enables insurers to benefit from its pre-integrated, cloud-first, low-code "insurance-in-a-box" approach across most of its products, CEO Roni Al-Do stated.
Outlook: Sapiens raised the FY21 revenue guidance for the second time from the previous $459 million- $464 million to $461 million- $466 million against the analyst consensus of $461.53 million.
Price action: SPNS shares traded higher by 6.02% at $26.59 on the last check Wednesday.

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