Barrington analyst Vincent Colicchio has maintained their neutral stance on EXLS stock, giving a Hold rating on May 2.
Vincent Colicchio has given his Hold rating due to a combination of factors including Exlservice Holdings’ (EXLS) performance and future earnings potential. The company’s first-quarter revenue for 2024 surpassed both the Barrington firm’s predictions and the FactSet consensus, demonstrating robust year-over-year and sequential growth. Additionally, Exlservice Holdings’ earnings per share exceeded expectations, attributed mainly to its revenue outperformance. The Digital Operations/Solutions and Analytics segments, vital components of the company’s revenue, showed significant growth, supporting the company’s positive performance.
Moreover, Colicchio acknowledges the company’s solid demand outlook, bolstered by a strong pipeline and increased average deal sizes, which reflects the effectiveness of its data and AI-focused strategy. Despite these positive aspects and the slight increase in the 2024 EPS forecast, Colicchio maintains a Market Perform rating, primarily due to valuation considerations. The report suggests that although the company is doing well, its current market valuation may fully reflect its growth prospects, leading to the decision to uphold a Hold recommendation.
Colicchio covers the Technology sector, focusing on stocks such as TTEC Holdings, Asure, and Exlservice Holdings. According to TipRanks, Colicchio has an average return of 9.5% and a 55.76% success rate on recommended stocks.
In another report released on May 2, Robert W. Baird also maintained a Hold rating on the stock with a $35.00 price target.
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Exlservice Holdings (EXLS) Company Description:
ExlService Holdings, Inc. is an operations management and analytics company, which engages in providing business process management. It operates through the following segments: Insurance; Healthcare; Travel, Transportation, and Logistics; Finance and Accounting; Analytics; and All Other. The Insurance segment serves property and casualty insurance, life insurance, disability insurance, annuity, and retirement services companies. The Healthcare segment offers services related to care management or population health, payment integrity, revenue optimization, and customer engagement. The Travel, Transportation, and Logistics segment includes business processes in corporate and leisure travel such as reservations, customer service, fulfilment, and finance and accounting. The Finance and Accounting segment comprises of procure-to-pay, order-to-cash, hire-to-retire, record-to-report, regulatory reporting, financial planning and analysis, audit and assurance, treasury, and tax processes. The Analytics segment consists of driving improved business outcomes for customers by generating data-driven insights. The All Other segment involves in banking, financial, utilities, and consulting services. The company was founded by Vikram Talwar and Rohit Kapoor in April 1999 and is headquartered in New York, NY.
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