Sage Group price target lowered to 1,320 GBp from 1,480 GBp at Jefferies

Jefferies lowered the firm’s price target on Sage Group (SGPYY) to 1,320 GBp from 1,480 GBp and keeps a Buy rating on the shares. Investors are pre-occupied with slowing ARR growth, putting downward pressure on consensus, the analyst tells investors in a research note. The firm doesn’t disagree with this sentiment, and is similarly below consensus, though it continues to believe investors are overreacting to the magnitude of risk which can be measured in basis points rather than anything more material.