Maxim Group reissued their buy rating on shares of Majesco (NYSEMKT:MJCO) in a report issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a $7.00 price objective on the software maker’s stock, down from their previous price objective of $8.00.

“MJCO reported 1Q:F18 revenue of $27.9 million, below our estimate of $30.9 million, and down 14% year-over-year, which reflects the shift toward SaaS that has significantly less services revenue.”,” Maxim Group’s analyst commented.

Separately, TheStreet upgraded Majesco from a d+ rating to a c rating in a research report on Tuesday, May 2nd.

Majesco (MJCO) opened at 4.72 on Thursday. The stock’s 50 day moving average price is $4.90 and its 200 day moving average price is $5.11. Majesco has a 52 week low of $4.49 and a 52 week high of $6.28. The firm’s market cap is $172.41 million.

Majesco (NYSEMKT:MJCO) last issued its quarterly earnings data on Wednesday, July 26th. The software maker reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by $0.08. The firm had revenue of $27.92 million for the quarter. Majesco had a negative return on equity of 6.99% and a negative net margin of 2.84%. On average, equities research analysts predict that Majesco will post $0.14 EPS for the current year.

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About Majesco

Majesco is a provider of insurance software, consulting and services for insurance industry. The Company operates through the software solutions provider for the insurance industry segment. The Company offers insurance software solutions for Property and Casualty or General Insurance (P&C), Life, Annuities (L&A), and Pensions and Group or Employee Benefits providers, allowing them to manage policy management, claims management and billing functions.

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