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Concentrix Faces Earnings Pressure as Top Analysts Adjust Price Targets

MarketDash Editorial Team
1 day ago
Concentrix is expected to report lower Q4 earnings on Jan. 13, with analysts forecasting $2.91 per share compared to $3.26 last year. Following weak third-quarter results and disappointing guidance, several top-rated analysts have maintained bullish ratings while trimming their price targets.

Concentrix Corporation (CNXC) is bracing for a challenging fourth-quarter report when it releases earnings before the market opens on Tuesday, January 13, 2025. Wall Street isn't expecting great news.

Analysts are forecasting earnings of $2.91 per share for the Newark, California-based company, which represents a notable decline from $3.26 per share in the same period last year. On the revenue side, things look slightly better—the consensus estimate sits at $2.54 billion, up from $2.45 billion a year earlier.

The weakness isn't exactly surprising. Back on September 25, Concentrix delivered third-quarter earnings that missed expectations and followed up with guidance for the fourth quarter that left investors underwhelmed. Despite the cautious outlook, shares managed to climb 2.9% on Tuesday, closing at $43.88.

What the Most Accurate Analysts Are Saying

While the earnings picture looks challenging, several highly-rated analysts are sticking with positive ratings on Concentrix, though some have adjusted their price targets in recent months. Here's what the analysts with the best track records are thinking:

Barrington Research analyst Vincent Colicchio maintained an Outperform rating on November 20, setting a price target of $62. Colicchio has an accuracy rate of 58%.

Baird analyst David Koning also kept his Outperform rating but trimmed his price target from $75 to $62 on September 29. Koning brings a stronger accuracy rate of 72% to the table.

Canaccord Genuity analyst Joseph Vafi is the most bullish of the group, maintaining a Buy rating with an $80 price target on September 23. Vafi also has the highest accuracy rate among these analysts at 75%.

Taking a more cautious stance, B of A Securities analyst Ruplu Bhattacharya maintained a Neutral rating and reduced his price target from $65 to $61 on June 27. Bhattacharya has a 68% accuracy rate.

The spread in price targets—ranging from $61 to $80—suggests analysts are still working through what the company's path forward looks like after the recent earnings disappointments. But with most maintaining Outperform or Buy ratings, there's still optimism that Concentrix can rebound from its current challenges.

Back to Stock Market News

Concentrix Faces Earnings Pressure as Top Analysts Adjust Price Targets

MarketDash Editorial Team
1 day ago
Concentrix is expected to report lower Q4 earnings on Jan. 13, with analysts forecasting $2.91 per share compared to $3.26 last year. Following weak third-quarter results and disappointing guidance, several top-rated analysts have maintained bullish ratings while trimming their price targets.

Concentrix Corporation (CNXC) is bracing for a challenging fourth-quarter report when it releases earnings before the market opens on Tuesday, January 13, 2025. Wall Street isn't expecting great news.

Analysts are forecasting earnings of $2.91 per share for the Newark, California-based company, which represents a notable decline from $3.26 per share in the same period last year. On the revenue side, things look slightly better—the consensus estimate sits at $2.54 billion, up from $2.45 billion a year earlier.

The weakness isn't exactly surprising. Back on September 25, Concentrix delivered third-quarter earnings that missed expectations and followed up with guidance for the fourth quarter that left investors underwhelmed. Despite the cautious outlook, shares managed to climb 2.9% on Tuesday, closing at $43.88.

What the Most Accurate Analysts Are Saying

While the earnings picture looks challenging, several highly-rated analysts are sticking with positive ratings on Concentrix, though some have adjusted their price targets in recent months. Here's what the analysts with the best track records are thinking:

Barrington Research analyst Vincent Colicchio maintained an Outperform rating on November 20, setting a price target of $62. Colicchio has an accuracy rate of 58%.

Baird analyst David Koning also kept his Outperform rating but trimmed his price target from $75 to $62 on September 29. Koning brings a stronger accuracy rate of 72% to the table.

Canaccord Genuity analyst Joseph Vafi is the most bullish of the group, maintaining a Buy rating with an $80 price target on September 23. Vafi also has the highest accuracy rate among these analysts at 75%.

Taking a more cautious stance, B of A Securities analyst Ruplu Bhattacharya maintained a Neutral rating and reduced his price target from $65 to $61 on June 27. Bhattacharya has a 68% accuracy rate.

The spread in price targets—ranging from $61 to $80—suggests analysts are still working through what the company's path forward looks like after the recent earnings disappointments. But with most maintaining Outperform or Buy ratings, there's still optimism that Concentrix can rebound from its current challenges.