Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Markets & Finance

RW Baird Cuts Sapient Rating


Sapient (SAPE)posted a first quarter net loss of $0.16 per share. RW Baird cut its rating on the stock to market underperform from market perform.

Analyst Gary Dean tells Standard & Poor's MarketScope that Sapient is competing in the most challenged portion of the information technology (IT) services market: application development. He notes that demand is soft after over-investment in 1998-2000 and IT budget cutbacks due to the 2001 recession. He expects large cash declines over the next two quarters. The analyst widened his $0.35 2002 loss estimate to a $0.57 loss, and cut his $212 million revenue forecast to $171 million. Although Dean would revisit his estimates once revenues stabilize or reaccelerate, at their current level, he thinks there is still some downside risk to the stock price.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus