Persistent Systems reported weak Q1FY17 earnings as revenue, PAT and EBITDA margins were below our estimates • Dollar revenues grew 4.3% QoQ to $104.76 million, below our $107.7 million and 7.2% growth estimate • Revenues in rupees grew 3.6% QoQ to | 701.8 crore, below our 6.4% QoQ growth and | 720.1 crore estimate . EBITDA margins declined 80 bps QoQ to 15.1% primarily led by inorganic investments and below our 60 bps increase and 15.2% estimate .Reported PAT of | 73.3 crore was below our | 79.4 crore estimate mainly on account of the margin miss.ICICI Securities Limited maintain HOLD recommendation on PSL and value it at | 690 i.e. at ~15x its FY18E EPS.Trendlyne has 20 reports on PERSISTENT updated in the last year from 6 brokers with an average target of Rs 744.2. Brokers have a rating for PERSISTENT with 2 downgrades,2 price upgrades,5 price downgrades in past 6 months and 3 downgrades,6 price downgrades,4 price upgrades in past 1 Year.