Persistent Systems Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for PERSISTENT, BSE:533179 Persistent Systems Ltd.

Persistent Systems Ltd.

31 Jan 2020

5176.50

0.52%

Persistent Systems (3QFY20): Improving trajectory. Maintain BUY

Buy: Persistent Systems Ltd.

Target

HDFC Securities

PSYS' recent trends have been a tale of two cities with the TSU segment accelerating to mid-teens growth (vs. high single-digit avg. over 10 qtrs), while Alliance & Accelerite units continue to be choppy. PSYS' S&M re-alignment towards client mining, cross-sell and large deals as well as delivery rejig has resulted in strong uptick in TSU. Large opportunity exists to stabilise the volatility in Alliance portfolio (leadership change), but it may be gradual even as T1 account concentration continues to decline. Margins have bottomed-out and are expected to improve with oplev, stability in Alliance and SG&A efficiencies. Expect 10.5/12.5% CAGR in USD rev/APAT over FY20-22E. Key risks include worsening working capital and continued volatility in Alliance business. We maintain BUY on Persistent Systems (PSYS) following an in-line rev. TSU business is on an upswing (sustainable), Alliance business is work-in-progress and margins have bottomed-out. Our TP is Rs 745, at 13x Dec-21E (10-yr avg.) with moderate increase in est (~3%).

Persistent Systems L.. has an average target of 5848.11 from 9 brokers.

Persistent Systems Ltd.

31 Jan 2020

5176.50

0.52%

In-line performance, good outlook

Sell: Persistent Systems Ltd.

Motilal Oswal

31 January 2020 Despite the weakness at the top client, revenue growth and margins were largely in line with our estimates. The positive outlook on all key verticals and the healthy deal pipeline within IBM are likely to translate into decent revenue growth (8.6% CAGR, USD) over FY20-22. Also, SG&A; optimization will likely leave ~120bp headroom for margin expansion over FY20-22. Our EPS estimates over FY20-22 remain largely unchanged. Despite the sharp re-rating (40% over last year), reasonable multiples offer margin of safety, in our view. Revenue grew 7% YoY to USD129m, EBIT declined 38% YoY to INR806m and PAT was down 4% YoY to INR879m largely in line with our estimates. Growth was led by Services (+6.1% QoQ) and Digital (+6.8% QoQ), partially offset by a decline in Alliance (2% QoQ) and Accelerite (~14% QoQ). While IP-led revenue declined by ~2.

Deven Choksey released a Accumulate report for Persistent Systems Ltd. with a price target of 5790.0 on 29 Jul, 2025.

Persistent Systems Ltd.

15 Nov 2019

5176.50

0.52%

Persistent Systems

Buy: Persistent Systems Ltd.

Recommendation Target

ICICI Securities Limited

Persistent reported a strong quarter on the revenue front with 4.9% QoQ growth in US$ revenue (4.1% organic, 0.8% contribution from Youperience acquisition). Growth was primarily led by IP led revenues, which increased 9.7% sequentially. Digital business (22.4% of revenues) also witnessed a recovery (3.5% QoQ growth) post weak Q1. On the margin front, despite robust growth in high margin IP led revenues, EBIT margins declined 90 bps QoQ to 8.9% mainly led by higher sales & marketing expenses. However, we expect margins to expand from these levels with the play of utilisation,...

Persistent Systems L.. has an average target of 5848.11 from 9 brokers.

Persistent Systems Ltd.

07 Nov 2019

5176.50

0.52%

Persistent Systems (2QFY20): Improving trajectory. Maintain BUY

Buy: Persistent Systems Ltd.

Recommendation Target

HDFC Securities

Despite strong domain expertise in ISV and niche specialisation (partner-led) in BFSI/Healthcare verticals, PSYS has lagged peers significantly (both rev/EPS) historically with low annuity/high project-based being the nemesis. However, we reckon that the trajectory has bottomed out following the recent leadership changes based on (1) Strong participation in Salesforce ecosystem (USD 60mn annual-rate biz), (2) Early signs of deal momentum (long tenured deal wins in BFSI) supported by sales re-alignment, and (3) Broad-based IP growth (Alliance/Accelerite) with pick up in renewals (93%) in Alliance. Expect 8/5% CAGR in rev/APAT over FY19-22E. Key risks include worsening working capital, volatility in Digital business (platform-led) & Alliance. We maintain BUY on Persistent Systems (PSYS) following an in-line 2Q. PSYS is exhibiting early signs of recovery (steady TSU, broad-based IP, sales velocity) and valuations are reasonable (12.5x FY21E). Our TP is Rs 670, valued at 13x Sep-21E EPS.

Persistent Systems Ltd. high volume past week with price loss of -10.43.

Persistent Systems Ltd.

29 Jul 2019, 12:00AM

5176.50

0.52%

Persistent Systems

Hold: Persistent Systems Ltd.

Target

ICICI Securities Limited

Revenue growth was subdued for another straight quarter with lower-thanexpected growth in IP led revenues (0.8% QoQ growth to $25.8 million) being the primary reason. Further, a decline in digital business (5.9% QoQ) also added to lower growth numbers. The management alluded to its focus on large annuity deals and improving IP led revenues to gain revenue growth momentum. While we expect FY20E revenues to register muted growth, acceleration is expected to be only in FY21E. Further, poor Q1FY20 performance and a slow start to IP revenues dampens our hope that the company will be able to register double digit growth over FY19-21E. Hence,...

Persistent Systems L.. has an average target of 5848.11 from 9 brokers.

Persistent Systems Ltd.

28 Jul 2019, 12:00AM

5176.50

0.52%

Q1FY20 Result Update

Hold: Persistent Systems Ltd.

Recommendation Target

Prabhudas Lilladhar

Persistent reported weak numbers in Q1FY20 due to a sequential decline in Change in Estimates | Target | Reco its Digital (-6% QoQ; ~23% of sales) and Accelerite (-40% QoQ; ~4% of sales) businesses. Overall, revenues in USD terms grew 1.1% QoQ, while...

Persistent Systems L.. has an average target of 5848.11 from 9 brokers.

Persistent Systems Ltd.

27 Jul 2019

5176.50

0.52%

Persistent Systems (1QFY20): Inertia persists. Maintain NEUTRAL

Neutral: Persistent Systems Ltd.

Target

HDFC Securities

Despite strong domain expertise in ISV and niche specialisation (partner-led) in BFSI/Healthcare verticals, PSYS has lagged peers significantly (both rev/EPS) over the past two years. Low annuity mix (project-heavy model), limited large deals and low sales velocity have been the nemesis. The recent management induction (CEO/Head Tech services/Head IBM Alliance) is aimed to reverse this. We believe that growth recovery will be protracted and expect USD rev/EPS CAGR of 7/3% CAGR. Valuations are supported by high cash (30% of M-cap) and FCF yield (~8%). We maintain NEUTRAL on Persistent Systems (PSYS) following a muted 1QFY20. It is vital that the recent top management revamp helps break the inertia on growth. Our TP of Rs 615 is based on a generous 13x Jun-21E EPS, premised on hope around this development.

Persistent Systems Ltd. is trading below all available SMAs

Persistent Systems Ltd.

27 Jul 2019

5176.50

0.52%

Weak performance, but a transitional phase

Buy: Persistent Systems Ltd.

Target

Motilal Oswal

Revenue growth remains elusive: 1QFY20 revenues declined 3.2% YoY to USD119.6m (v/s est. of 1.3% decline), EBIT declined 8% YoY to INR0.9b (v/s est. of 1% decline), while PAT declined 5.6% YoY to INR825m (v/s est. of 7.4% growth). Services revenue grew 1.2% QoQ to USD93.9m (v/s est. of USD93.2m). IP-led revenues were flat QoQ at USD25.8m (v/s est. of...

Number of FII/FPI investors increased from 904 to 993 in Jun 2025 qtr.

Persistent Systems Ltd.

26 Jul 2019

5176.50

0.52%

Persistent Systems (REDUCE): Results first cut Lacklustre quarter

Sell: Persistent Systems Ltd.

BOB Capital Markets Ltd.

Persistent Systems (PSYS) reported another quarter of subpar operating performance as both revenue and operating margins missed estimates in Q1FY20.

Deven Choksey released a Accumulate report for Persistent Systems Ltd. with a price target of 5790.0 on 29 Jul, 2025.

Persistent Systems Ltd.

26 Jul 2019

5176.50

0.52%

Persistent

Hold: Persistent Systems Ltd.

Target

Arihant Capital

Persistent Systems came out with muted set of numbers in Q1FY20, which were a tad below our estimate. Revenue was flat (-0.3% YoY) at Rs 8321 mn against our estimate of Rs 8460 mn. EBITDA stood at Rs 1202 mn against our estimate of Rs 1360 mn. PAT for the quarter stood at Rs 825 mn, slightly below our estimate of Rs 865 mn. Due to management transition and client specific (IBM) issues, we already toned down our estimate post last quarter result. As expected, this quarter was lacklustre for Persistent and Q1FY20 numbers mostly matched our estimate. We are...

Persistent Systems L.. has an average target of 5848.11 from 9 brokers.

Is Persistent Systems Ltd. worth buying?

315 Votes:

Buy 77.78%

Sell 13.97%

Hold 8.25%

RESEARCH REPORTS

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