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 TipRanks.com, 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.