Page 5 - Persistent Systems News Today

Persistent’s fourth quarter numbers were a mixed bag. While revenue growth met the analysts’ expectations, the margin performance was below estimates. Revenue grew by 3.4% sequentially to $ 310.9 million for the quarter.

Persistent Systems Q4 Results Live : Revenue increased by 14.91% YoY & profit increased by 25.37% YoY

Brokerage Nomura upheld a neutral rating on Persistent Systems, while Investec continues to advocate a buy stance on Natco Pharma and has initiated a buy recommendation on Entero Healthcare. Conversely, CLSA has downgraded RIL to an outperform rating.

Persistent Systems CEO Sandeep Kalra discusses the companys growth strategy amidst challenging market conditions, focusing on leveraging investments in generative AI and sales/marketing to achieve margin growth goals in the upcoming years. Kalra says: "We want to grow in line with what we have done in the past from an outperformance perspective and that is what we are looking at. "

Emkay Global Financial recommended reduce rating on Persistent Systems with a target price of Rs 3700 in its research report dated April 22, 2024.

Sharekhan is bullish on Persistent Systems has recommended buy rating on the stock with a target price of Rs 4,150 in its research report dated April 22, 2024.

Persistent System’s stock price tumbled by over 10 percent on April 22, its biggest single-day decline since March 31, following its Q4 earnings and guidance on expecting flat FY25 margins.

While there are key data points in the coming week, markets are still about geopolitical risk

Reliance Industries Stock: Reliance Industries is all set to declare its Q4 results & dividend for the January-March 2024 quarter.

Persistent Systems reported a 25.36 percent rise in net profit at Rs 315.3 crore year-on-year for the fourth quarter