The stock of The Sage Group plc (LON:SGE) gapped up by GBX 4 today and has GBX 1075.45 target or 57.00% above today’s GBX 685.00 share price. The 5 months technical chart setup indicates low risk for the GBX 7.56 billion company. The gap was reported on Nov, 18 by Barchart.com. If the GBX 1075.45 price target is reached, the company will be worth GBX 4.31B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 1.48% or GBX 10 on November 18, hitting GBX 685. About 2.76M shares traded hands or 5.34% up from the average. The Sage Group plc (LON:SGE) has risen 7.57% since April 20, 2016 and is uptrending. It has outperformed by 3.14% the S&P500.
The Sage Group plc (LON:SGE) Ratings Coverage
Out of 20 analysts covering Sage Group The PLC (LON:SGE), 7 rate it a “Buy”, 9 “Sell”, while 4 “Hold”. This means 35% are positive. Sage Group The PLC has been the topic of 105 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The company was maintained on Monday, April 25 by Panmure Gordon. The firm has “Neutral” rating by Bryan Garnier & Cie given on Thursday, January 28. The firm has “Overweight” rating by JP Morgan given on Friday, May 6. The stock of The Sage Group plc (LON:SGE) has “Add” rating given on Tuesday, October 6 by Numis Securities. On Friday, October 7 the stock rating was maintained by Credit Suisse with “Underperform”. On Thursday, March 24 the stock rating was maintained by Numis Securities with “Add”. Jefferies maintained the shares of SGE in a report on Tuesday, December 8 with “Buy” rating. The firm has “Buy” rating given on Monday, November 30 by Canaccord Genuity. Citigroup maintained the shares of SGE in a report on Monday, March 21 with “Buy” rating. The rating was maintained by Numis Securities on Wednesday, January 27 with “Add”.
More news for The Sage Group plc (LON:SGE) were recently published by: Seekingalpha.com, which released: “The Sage Group PLC” on July 12, 2014. Bizjournals.com‘s article titled: “Sage Software confirms plans to create 400 jobs in Midtown” and published on June 12, 2015 is yet another important article.
The Sage Group plc is a United Kingdom company, which provides small and medium sized enterprises with a range of business management software and services, including accounting, human resource (HR) and payroll, enterprise resource planning (ERP), payments, customer relationship management (CRM), mobility and business intelligence. The company has a market cap of 7.56 billion GBP. The Firm operates through three divisions: Europe, which includes activities in France, the United Kingdom and Ireland, Spain, Germany, Switzerland, Poland, Portugal and Sagepay; Americas, which includes the United States, Brazil and Canada, and AAMEA, which include Africa, Australia, Middle East and Asia. It has a 42.84 P/E ratio. The Africa activities are based in South Africa and the Middle East, and its Asia activities are based in Singapore, Malaysia and the United Arab Emirates.
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