Sapiens downgraded to Hold from Buy at Jefferies

Jefferies downgraded Sapiens (SPNS) to Hold from Buy with a price target of $28, down from $36, as part of a Q4 preview. The firm says 2025 is shaping up to be a much more challenging year than anticipated for the company, with organic growth likely to end up no better than low-single-digits. North American property and casualty remains weak as Sapiens’ investments of the past few years are not showing traction amid industry challenges, while Europe is challenging overall on the macro environment, the analyst tells investors in a research note. Jefferies cites its expectations of little to no improvement in growth in 2025 for the downgrade of Sapiens.