Sapiens initiated with an Underweight at JPMorgan

JPMorgan analyst Alexei Gogolev initiated coverage of Sapiens with an Underweight rating and $20 price target. The company has an "uneventful outlook" for revenue growth and the stock deserves to trade at a discount to peers given its revenue mix, Gogolev tells investors in a research note. The analyst also flags currency headwinds from Sapiens’ non- U.S. exposure and low stock liquidity.