Barrington analyst Vincent Colicchio lowered the firm’s price target on Concentrix (CNXC) to $54 from $70 and keeps an Outperform rating on the shares following the Q4 report. The firm reduced its valuation multiple and price target due to the reduction in its fiscal 2025 revenue, adjusted EBITDA, and non-GAAP earnings forecasts, which reflects slowing growth. Based on its “strong” pipeline, new services, artificial intelligence solutions, new clients in Europe, and reduction of low transaction value revenue, Concentrix should achieve improved growth in the out years, the analyst tells investors in a research note.
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