Persistent remains range-bound due to steep valuations, surging volatility
Business

Persistent remains range-bound due to steep valuations, surging volatility

By Dan Neff

Persistent offers IT services and IP (intellectual property) led solutions to banking, financial services and insurance (BFSI), healthcare, and hi-tech industries globally.

Synopsis

Analysts expect the company to deliver strong growth given the business traction. “Persistent’s capability to win new deals is encouraging and should result in its continuing industry leading growth in FY22,” said Motilal Oswal Financial Services in a review report. The brokerage expects 34.6% revenue growth for FY22 in dollar terms.

The stock of Persistent Systems, a mid-tier software exporter, has remained range-bound over the past three months following steep valuation amid rising market volatility. The company continued to report a strong financial performance in the third quarter with a sustained momentum in order booking. It has taken steps to curtail employee attrition. Given these factors, barring short-term volatility, the long term trend for the stock remains

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Dan Neff