Genpact (G – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Mayank Tandon from Needham reiterated a Buy rating on the stock and has a $65.00 price target.
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Mayank Tandon has given his Buy rating due to a combination of factors that highlight Genpact’s strong performance and strategic direction. The company closed its fiscal year 2024 with results that exceeded expectations, driven by an increase in demand and effective execution of strategic plans. The notable growth in their Data/Tech/AI and Digital Operations segments during the fourth quarter contributed to management providing optimistic guidance for the first quarter and fiscal year 2025, indicating continued improvements in both growth and margins.
Additionally, Genpact’s decision to raise its quarterly dividend by 11% and increase its stock buyback authorization by $500 million reflects a proactive capital allocation strategy that benefits shareholders. These elements demonstrate the company’s robust execution, strong momentum in bookings, and commitment to shareholder value, leading to a confident Buy rating from Tandon and an increased price target of $65.
In another report released today, TD Cowen also upgraded the stock to a Buy with a $60.00 price target.
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of G in relation to earlier this year.