Barclays downgrades Sage Group to ‘underweight’
![The Sage Group | Sharecast graphic / Josh White dl sage group plc the dge technology technology software and computer services software ftse 100 premium logo 20230512 1627](https://img5.s3wfg.com/web/img/images_uploaded/b/b/dl--sage-group-plc-the--dge--technology--technology--software-and-computer-services--software--ftse-100--premium--logo-20230512-1627_620x350.jpg)
Sage Group
1,081.00p
16:40 26/07/24
1.98%
21.00p
Barclays downgraded Sage Group on Monday to ‘underweight’ from ‘equalweight’ and cut the price target to 985p from 1,050p.
FTSE 100
8,285.71
16:45 26/07/24
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FTSE 350
4,586.28
16:45 26/07/24
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FTSE All-Share
4,544.36
16:29 26/07/24
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Software & Computer Services
2,510.10
16:45 26/07/24
1.28%
31.75
The bank said annualised recurring revenue (ARR) growth and the pace of margin expansion peaking, combined with an elevated valuation, "all suggest it's as good as it gets for Sage shares".
"With NCA growth slowing and risks to NRR from the macro backdrop, we see better value elsewhere," Barclays said.
At 1320 GMT, the shares were down 0.5% at 1,146p.