Jefferies has maintained its “Buy” rating on Newgen Software and hiked the target price from ₹1,220 to ₹1,500, representing an optimistic outlook based on the company’s strong performance. The current market price (CMP) of Newgen Software is ₹1,294.50.
The brokerage firm highlighted that both revenue and margins exceeded expectations, with higher license sales being the primary driver of revenue growth. Jefferies also pointed to a strong growth outlook led by Newgen’s core markets, further strengthening the company’s position. Additionally, margin expansion is expected to continue, boosting future profitability.
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