William Blair analyst Maggie Nolan has maintained their bullish stance on ASGN stock, giving a Buy rating on July 22.
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Maggie Nolan’s rating is based on ASGN’s strong performance in the second quarter, where the company exceeded expectations, particularly in adjusted earnings per share. The guidance for the third quarter also surpassed consensus estimates in terms of revenue, margins, and earnings. This positive outlook is supported by the impressive growth in commercial consulting bookings, which increased by 27.5% year-over-year, driven by the successful integration of TopBloc.
Additionally, ASGN’s federal revenue has shown robust performance, with national security accounts growing significantly. The company’s strategic partnerships with Workday and ServiceNow are gaining momentum, further enhancing its market position. The anticipated increase in federal defense spending, as a result of recent legislative actions, presents a promising opportunity for ASGN to capitalize on its core competencies in cloud, AI, and data, potentially boosting its revenue in the federal sector.
Nolan covers the Technology sector, focusing on stocks such as Genpact, WNS, and TELUS International (CDA). According to TipRanks, Nolan has an average return of -0.9% and a 43.62% success rate on recommended stocks.
In another report released on July 22, Truist Financial also reiterated a Buy rating on the stock with a $75.00 price target.