Sapiens price target raised to $38 from $34 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Sapiens to $38 from $34 and keeps a Buy rating on the shares. The firm is citing the management’s concerted effort towards transitioning customers towards cloud that will drive a 1 point headwind to revenue growth but will drive stronger unit economics over time as the business model increasingly shifts towards higher margin software revenue, the analyst tells investors in a research note.