Multinational professional services company Accenture (ACN) has acquired Argentina-based boutique e-commerce agency Glamit for an undisclosed amount. Accenture’s shares closed nearly 1.1% up on Wednesday at $330.18.
Glamit offers direct-to-consumer solutions, digital marketing services, brand strategy, and experience design and technology.
The acquisition will boost Accenture Interactive’s omnichannel e-commerce and marketing solutions and enhance the Accenture SynOps platform’s ability to power seamless and connected commerce experiences. It will also bring Glamit’s partnerships with Mercado Pago, VTEX, and Magento to expand Accenture’s reach.
Notably, Glamit’s 260 employees will become part of Accenture Interactive’s HSA segment. (See Insiders’ Hot Stocks on TipRanks)
The President for Growth Markets at Accenture Interactive, Flaviano Faleiro, said, “Glamit fits into our vision of transforming commerce across Latin America. With them as part of the Interactive family, we will help our clients in the region balance the complexities and simplicity of digital commerce and create exceptional experiences that delight consumers and drive brand success.”
Last month, MoffettNathanson analyst Lisa Elis upgraded the stock to a Buy from a Hold with a price target of $405 (22.7% upside potential).
The analyst thinks that the stock’s valuation is “attractive when viewed through a free cash flow lens.”
Overall, the stock has a Strong Buy consensus rating based on 12 Buys and 2 Holds. The average Accenture price target of $380.15 implies 15.1% upside potential. Shares have gained around 44% over the past year.
According to TipRanks’ Smart Score rating system, Accenture scores a “Perfect 10,” suggesting that the stock is likely to outperform market averages.
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