Analyst Vincent Colicchio from Barrington maintained a Buy rating on The Hackett Group (HCKT – Research Report) and keeping the price target at $32.00.
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Vincent Colicchio has given his Buy rating due to a combination of factors that highlight The Hackett Group’s strong market position and growth potential. The company operates in large target markets through its performance improvement consulting and enterprise software services, both of which show promising growth opportunities. Additionally, the anticipated improvement in Global Strategy and Business Transformation revenue, driven by increased contributions from generative AI consulting, suggests a positive outlook for the company’s financial performance.
Moreover, the acquisition of LeewayHertz has significantly enhanced Hackett’s capabilities in generative AI, providing a comprehensive consulting service from ideation to implementation. This strategic move, along with the creation of a joint venture to offer advanced AI solutions, positions Hackett well in the AI space. The company’s solid momentum in generative AI and strong pipelines for Oracle and SAP solutions are expected to drive revenue and earnings growth in the coming years, justifying the Buy rating and a 12-month price target of $32.