Sage Group Share Price Drop Considered an Opportunity for Investors -- Market Talk

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Sage Group Share Price Drop Considered an Opportunity for Investors -- Market Talk

Dow Jones05-29

1409 GMT - Sage Group's recent share price drop should be taken as a rare opportunity to invest in the company at a more reasonable valuation, AlphaValue analysts write in a note. The London-listed software company's share price has underperformed against the rest of the software sector year to date; Sage shares have fallen 9.8%, while the sector rose 17%, the analysts say. However, Sage benefits from a large market, estimated to be worth GBP35 billion in 2024 and with good growth prospects, driven by strong demand for cloud software and technology, they add. The group's international growth potential is hardly tapped, and operations should accelerate in Europe thanks to Sage Intacct, AlphaValue says. Shares are down 1% at 1,053 pence. (najat.kantouar@wsj.com)

(END) Dow Jones Newswires

May 29, 2024 10:09 ET (14:09 GMT)

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