Moneycontrol PRO

Buy Newgen Software; target of Rs 460: ICICI Direct

ICICI Direct is bullish on Newgen Software recommended buy rating on the stock with a target price of Rs 460 in its research report dated January 18, 2023.

January 18, 2023 / 01:59 PM IST
  • bselive
  • nselive
Todays L/H

ICICI Direct's research report on Newgen Software

Incorporated in 1992, Newgen is a low code application development platform company. It is an established player in the market of enterprise content management (ECM), business process management (BPM) & customer communications management (CCM). Annuity based revenues (SaaS + ATS/AMC + Support) comprises 59% of the revenue mix while license & others form 20.7% of the revenue mix each .Vertical wise, BFSI comprises 66% of revenue mix while geographical break-up has been largely equal between India, US, EMEA & APAC.


We maintain BUY rating on the stock. We value Newgen at Rs 460 i.e., 13x P/E on FY25E EPS.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Newgen Software - 18 -01-2023 - icici

Broker Research
first published: Jan 18, 2023 01:59 pm