Friday, August 07
ET Intelligence Group: The stock of Persistent Systems is down 2% since January 20 when the mid-tier software exporter declared the December quarter numbers compared with a modest 1% gain in the BSE Infotech index. The stock's underperformance owes to its rich valuation amid geopolitical uncertainties. Analysts, however, have raised target prices by around 8% on average citing that the company is on track to achieve the guidance of $2 billion revenue by FY27 compared with $1.6 billion in the trailing 12 months (TTM) to December 2025 given the strong order booking and improving profitability. The company reported sustained revenue momentum, clocking a sequential growth of over 4% for the second consecutive quarter despite demand uncertainty and holiday season during the December quarter. Th
