Accenture plc (ACN) is gearing up to unveil its fourth-quarter earnings before the market opens on Thursday, September 26th. Wall Street analysts are expecting a positive report, forecasting earnings of $2.78 per share, a rise from $2.71 per share in the same period last year. Revenue is projected to reach $16.38 billion, compared to $15.99 billion in the previous year, according to data from Benzinga Pro. This optimistic outlook comes on the heels of Accenture Federal Services securing a significant $190 million contract from the U.S. Department of State for data and systems engineering.
Accenture’s stock closed at $339.62 on Tuesday, registering a slight 0.1% gain. Let’s delve into the insights provided by some of Benzinga’s most accurate analysts regarding ACN’s future prospects.
JP Morgan analyst Tien-Tsin Huang maintained an Overweight rating for Accenture on September 24th, albeit reducing the price target from $376 to $370. Huang, boasting a 61% accuracy rate, remains confident in the company’s growth trajectory. On September 18th, Mizuho analyst Dan Doelev also maintained an Outperform rating while boosting the price target from $352 to $365. Doelev, with a 63% accuracy rate, sees significant upside potential for ACN.
Citigroup analyst Ashwin Shirvaikar joined the chorus of optimism on September 17th, reaffirming a Buy rating and raising the price target from $350 to $405. Shirvaikar, who boasts a 72% accuracy rate, believes Accenture is poised for substantial growth. Conversely, TD Cowen analyst Bryan Bergin struck a more cautious tone on September 12th, maintaining a Hold rating while raising the price target from $293 to $321. Bergin, with a 62% accuracy rate, suggests a more measured approach to investing in ACN.
On June 26th, Morgan Stanley analyst James Faucette took a contrasting stance, downgrading the stock from Overweight to Equal-Weight and slashing the price target from $382 to $300. Faucette, who has a 65% accuracy rate, expressed concerns about the company’s future performance.
As investors consider whether to invest in ACN, these analyst insights provide valuable information to inform their decisions. The diversity of opinions underscores the complexity of evaluating Accenture’s future prospects, highlighting both potential growth opportunities and potential risks.
