Analyst Vincent Colicchio of Barrington maintained a Buy rating on Barrett Business Services (BBSI – Research Report), retaining the price target of $45.00.
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Vincent Colicchio’s rating is based on Barrett Business Services’ strong financial performance and growth prospects. The company reported a total revenue of $292.6 million for Q1/25, surpassing both Barrington’s and FactSet’s forecasts. This revenue growth was accompanied by a significant increase in gross billings, which rose by 9.5% year-over-year, driven by a rise in average worksite employees and new client additions.
Additionally, the company’s earnings per share exceeded expectations, with a reported EPS of -$0.04 compared to the forecasted -$0.12. Despite reducing the EPS forecasts for 2025 and 2026 due to economic headwinds, the firm maintains a positive outlook on BBSI’s shares, with an OUTPERFORM rating and a 12-month price target of $45. The company’s asset-light strategy and expansion plans in key markets further support this optimistic view.
According to TipRanks, Colicchio is a 5-star analyst with an average return of 10.3% and a 55.97% success rate. Colicchio covers the Technology sector, focusing on stocks such as Asure, Exlservice Holdings, and Insight Enterprises.
In another report released today, Roth MKM also maintained a Buy rating on the stock with a $45.00 price target.