Tag: price target cut

Shares of Newgen Software Technologies Ltd. dropped by 18% on January 21, 2025, after brokerage firm Jefferies downgraded the stock from a “buy” to “underperform.” The downgrade followed the company’s December quarter results, which showed a 5.5% growth in topline revenue and a 26.5% increase in net profit. Despite this growth, Jefferies cited a slower-than-expected…