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 $50.00 price target.
Mayank Tandon has given his Buy rating due to a combination of factors including Genpact’s strong first-quarter performance, where the company exceeded both revenue and profit expectations. Despite the challenges posed by macroeconomic uncertainties, which have led to a cautious outlook for the fiscal year 2025, the company has demonstrated resilience by securing 80 new clients and winning significant deals in the quarter.
Moreover, Tandon highlights the potential for Genpact’s growth to pick up momentum once the economic conditions improve, supported by a robust pipeline of deals and the company’s advanced AI-driven solutions. Although the near-term growth outlook is tempered, the stock is considered undervalued at its current trading multiple, which provides an attractive entry point for investors. Consequently, Tandon maintains a positive stance on Genpact’s shares, albeit with a revised price target to better align with the current market conditions.
According to TipRanks, Tandon is an analyst with an average return of -4.4% and a 37.90% success rate. Tandon covers the Technology sector, focusing on stocks such as Exlservice Holdings, WNS, and Globant SA.