DOGE-related headwind in Q4 to likely pressure Accenture stock, says Barclays

Barclays notes that in Q3, Accenture (ACN) reported a solid top/bottom-line beat and raised the midpoint of FY25 revenue guidance. However, softer bookings and a 200 bp DOGE-related headwind in Q4 will likely pressure the stock in today’s tape. While the firm views the underlying business as intact, macro-uncertainty remains. Barclays has an Outperform rating and a price target of $390 on the shares.