Accenture Analysts Cut Their Forecasts After Q3 Results
Portfolio Pulse from Lisa Levin
Accenture reported Q3 FY23 revenue growth of 3% YoY to $16.57 billion, slightly beating the consensus of $16.56 billion. Adjusted EPS of $3.19 beat the consensus of $3.04. However, analysts from Piper Sandler and TD Cowen cut their price targets on Accenture following the earnings announcement.
June 23, 2023 | 11:34 am
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Accenture's Q3 revenue and EPS beat estimates, but analysts from Piper Sandler and TD Cowen cut their price targets on the stock.
Accenture's better-than-expected Q3 results were overshadowed by analysts cutting their price targets. This may lead to short-term negative sentiment and downward pressure on the stock price.
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