Mayank Tandon, an analyst from Needham, reiterated the Buy rating on Genpact. The associated price target remains the same with $53.00.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Mayank Tandon has given his Buy rating due to a combination of factors that highlight Genpact’s strong performance and future potential. The company reported impressive third-quarter results, surpassing expectations in both revenue and earnings, largely driven by a significant increase in their Advanced Technology Solutions segment. This growth was bolstered by the signing of five substantial deals and a noticeable uptick in demand from clients eager to integrate AI capabilities into their operations.
Furthermore, Tandon’s confidence is reinforced by a robust and expanding pipeline, fueled by heightened interest from both new and existing clients. As these opportunities are realized, there is potential for Genpact to exceed market expectations and achieve its long-term goals. Additionally, with the stock trading at a relatively low valuation compared to its peers, Tandon sees the current price as an attractive entry point, justifying the Buy rating with a target price of $53.
In another report released yesterday, TD Cowen also reiterated a Buy rating on the stock with a $55.00 price target.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of G in relation to earlier this year.