Cantor Fitzgerald analyst Joseph Foresi maintained a Buy rating on Genpact Limited (NYSE: G) today and set a price target of $36. The company’s shares closed yesterday at $32.10.
Foresi wrote:
“Foresi’s Take. Global Client BPO grew 15% y/y cc in 1Q18. Global Client growth was up from the prior-quarter level (+14% vs. 12%), and offset declines at GE enough to drive total revenues above Street estimates. Digital continues to be a key driver, as transformational services grew mid-teens, driven by demand for digital solutions.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 16.4% and a 81.6% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.
Genpact Limited has an analyst consensus of Strong Buy, with a price target consensus of $36.75.
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Based on Genpact Limited’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $735 million and quarterly net profit of $67.08 million. In comparison, last year the company earned revenue of $619 million and had a net profit of $53.34 million.
Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2018, Patrick Cogny, the SVP of G sold 8,969 shares for a total of $283,420.
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Genpact Ltd. engages in the business process management, outsourcing, shared services, and information outsourcing. It focuses on designing and running intelligent operations and providing digital-led solutions. The company was founded by Pramod Bhasin in 1997 and is headquartered in Hamilton, Bermuda.
