Top Wall Street Forecasters Revamp Concentrix Price Expectations Ahead Of Q4 Earnings

As Concentrix Corporation (CNXC) prepares to release its fourth-quarter financial results on Jan. 15, 2025, top Wall Street analysts have been revising their price expectations for the company. The Newark, California-based customer experience (CX) solutions provider is expected to report quarterly earnings at $3.01 per share, down from $3.36 per share in the year-ago period. Analysts also anticipate quarterly revenue of $2.44 billion, compared to $2.23 billion a year earlier.

Baird analyst David Koning initiated coverage on the stock with an Outperform rating and a price target of $70 on Oct. 3, 2024. This analyst has an accuracy rate of 79%. Barrington Research analyst Vincent Colicchio maintained an Outperform rating and cut the price target from $84 to $70 on Sept. 26, 2024. This analyst has an accuracy rate of 61%. Canaccord Genuity analyst Joseph Vafi maintained a Buy rating and cut the price target from $125 to $100 on Sept. 26, 2024. This analyst has an accuracy rate of 80%.



The average analyst price target for CNXC stock is $79, with a low estimate of $70 and a high estimate of $100. The average target predicts an increase of 73.25% from the current stock price of $45.60. The average analyst rating for Concentrix stock from five stock analysts is "Buy," indicating that analysts believe this stock is likely to outperform the market over the next twelve months.



Concentrix's investment in generative AI and focus on transformational deals are poised to enhance productivity, future revenue, and margins through differentiated services. The company's strategy for long-term contracts and proactive offshoring to lower-cost geographies aims to drive revenue growth and improve long-term profitability.



However, some analysts have expressed concerns about the company's ability to maintain its growth trajectory. Concentrix's shares have lagged the market in recent months, with the stock price falling 1.53% in the past month and 0.91% in the past three months. The company's shares are also down 51.56% over the past year and 73.47% over the past three years.



In conclusion, top Wall Street analysts have revised their price expectations for Concentrix Corporation ahead of the company's fourth-quarter earnings release. While the average analyst rating remains "Buy," some analysts have expressed concerns about the company's growth trajectory. Investors should closely monitor the company's earnings report and the subsequent analyst reactions to make informed decisions about the stock's future prospects.