Vincent Colicchio, an analyst from Barrington, maintained the Buy rating on Concentrix (CNXC – Research Report). The associated price target remains the same with $54.00.
Vincent Colicchio has given his Buy rating due to a combination of factors including Concentrix’s recent financial performance and future growth prospects. The company reported fiscal Q1/25 revenue that aligned with forecasts, and a non-GAAP EPS that exceeded expectations, driven by better-than-anticipated operating margins and lower interest expenses. Additionally, the company’s adjusted EBITDA surpassed Colicchio’s forecast, indicating strong operational efficiency.
Colicchio is optimistic about Concentrix’s future, expecting sequential revenue growth due to a robust sales pipeline and the introduction of new generative AI services. He maintains a positive outlook on the company’s EPS forecasts for fiscal 2025 and 2026, supported by investments in new products and a reduction in low-value transaction revenue. Consequently, Colicchio maintains an OUTPERFORM rating with a 12-month price target of $54, reflecting an 18% upside potential.
According to TipRanks, Colicchio is a 5-star analyst with an average return of 10.7% and a 57.20% success rate. Colicchio covers the Technology sector, focusing on stocks such as WNS, Concentrix, and Asure.
In another report released today, Scotiabank also maintained a Buy rating on the stock with a $65.00 price target.