Maxim Group Sticks to Their Buy Rating for Majesco

By Ryan Adsit

Maxim Group analyst Brian Kinstlinger reiterated a Buy rating on Majesco (NYSE: MJCO) today and set a price target of $8. The company’s shares opened today at $4.80.

Kinstlinger observed:

“We reiterate our Buy rating and $8 price target as we argue MJCO is poised to post an accelerated top-line growth rate.”

According to, Kinstlinger is a 2-star analyst with an average return of 0.6% and a 48.2% success rate. Kinstlinger covers the Technology sector, focusing on stocks such as Applied DNA Sciences, Tyler Technologies, and Evolving Systems.

Majesco has an analyst consensus of Moderate Buy, with a price target consensus of $8.

Based on Majesco’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $28.16 million and GAAP net loss of $799K. In comparison, last year the company earned revenue of $32.31 million and had a GAAP net loss of $1.54 million.

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Majesco engages in the provision of core insurance software, consulting and services for business transformation for the insurance industry. It offers core insurance software solutions for Property and Casualty/General Insurance (P&C), Life, Annuities (L&A), Pensions Group/Employee Benefits providers, allowing it to manage policy management, claims management, and billing functions. It also a variety of other technology-based solutions for distribution management, digital, data and cloud that enable organizations to automate business processes across the end-to-end insurance value chain. The company was founded by Ketan Bansilal Mehta and Sudhakar Venkatraman Ram in April 1992 and is headquartered in Morristown, NJ.