Mayank Tandon, an analyst from Needham, maintained the Buy rating on Exlservice Holdings (EXLS – Research Report). The associated price target remains the same with $55.00.
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Mayank Tandon has given his Buy rating due to a combination of factors that highlight Exlservice Holdings’ strong performance and strategic positioning. The company reported impressive first-quarter results, surpassing expectations in both revenue and earnings. This growth was driven by widespread expansion across various sectors, and the company also demonstrated significant year-over-year margin improvements.
Furthermore, despite signing fewer new contracts compared to historical levels, the quality and size of these deals were notably higher, indicating robust demand and effective execution. The management’s decision to raise the fiscal year 2025 revenue guidance by approximately $7 million at the midpoint further underscores confidence in the company’s prospects. Additionally, with the stock trading at a reasonable valuation relative to its peers and showing strong momentum in deploying high-value AI solutions, Tandon remains optimistic about Exlservice Holdings’ future performance.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $51.00 price target.
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