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Enfusion Stock To Remain Range-Bound In 2024 Amid Stable Hedge Fund Market: Goldman Sachs Analyst Downgrades Stock

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Goldman Sachs analyst Gabriela Borges downgraded Enfusion Inc (NYSE:ENFN) from Neutral to Sell and lowered the price target from $9 to $8.

While the stock has already underperformed the NASDAQ by 54% over the last 12 months, the analyst expects the stock to be range-bound in 2024. 

Street estimates reflect 10 points of acceleration in revenue over the next 12 months, and Borges is more conservative with her modeling assumptions at 3 points. The analyst is 5% below the Street on revenue for 2025. 

Her industry conversations suggest that the outlook for hedge funds is stable (rather than improving or deteriorating) — and against …

Full story available on Benzinga.com

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