These Analysts Revise Their Forecasts On Cognizant Technology Solutions After Q4 Results
Portfolio Pulse from Avi Kapoor
Cognizant Technology Solutions Corporation (NASDAQ:CTSH) reported Q4 results with adjusted earnings of $1.18 per share, surpassing estimates of $1.04. However, sales of $4.758 billion slightly missed expectations by $0.001 billion. The company forecasts Q1 revenue to decline by 2.7% to 1.2%, with full-year revenue expected between $19.0 and $19.8 billion. Adjusted EPS for 2024 is projected in the range of $4.50 to $4.68. Following the report, BMO Capital reduced its price target from $88 to $85, while RBC Capital increased its target from $74 to $77. CTSH shares dropped 0.2% to $78.60.
February 07, 2024 | 5:17 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Cognizant Technology Solutions reported higher-than-expected Q4 earnings but slightly missed sales forecasts. The company anticipates a revenue decline in Q1 and has provided full-year revenue and EPS projections. Following the earnings report, BMO Capital lowered its price target, while RBC Capital increased theirs.
The mixed Q4 results and the forecasted revenue decline in Q1 could lead to short-term negative sentiment among investors. The adjustments in price targets by BMO Capital and RBC Capital reflect a recalibration of expectations, which could further influence the stock's short-term performance negatively.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100