Needham analyst Mayank Tandon has reiterated their bullish stance on EXLS stock, giving a Buy rating today.
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Mayank Tandon has given his Buy rating due to a combination of factors that highlight Exlservice Holdings’ strong performance and future potential. The company reported impressive third-quarter results, surpassing expectations in both revenue and earnings. This success was driven by broad-based growth across its segments, particularly in the Data and AI sector, which saw a significant year-over-year increase.
Furthermore, the management’s decision to raise the fiscal year 2025 revenue guidance reflects their confidence in sustained growth, supported by a robust sales pipeline and an increase in new client signings. Despite a recent decline in share price, the valuation remains attractive, especially considering the company’s outperformance relative to its peers and its promising prospects for continued double-digit growth. These factors collectively underpin Tandon’s Buy rating and the $55 price target.
Tandon covers the Technology sector, focusing on stocks such as Agilysys, Cognizant, and Euronet Worldwide. According to TipRanks, Tandon has an average return of -3.6% and a 37.63% success rate on recommended stocks.