Concentrix Corporation (NASDAQ:CNXC) on Tuesday reported mixed first-quarter financial results and issued second-quarter adjusted EPS and sales guidance below estimates.
Concentrix reported quarterly adjusted earnings of $2.61 per share, which missed the Street estimate of $2.65. Quarterly revenue was $2.500 billion, up by 5.4% year-over-year (Y/Y), above the analyst consensus estimate of $2.492 billion.
Concentrix expects second-quarter revenue of $2.460 billion to $2.485 billion (versus $2.490 billion consensus estimate) and adjusted EPS of $2.57 to $2.69 (versus $2.76 consensus estimate).
The company reiterated fiscal 2026 revenue of $10.035 billion to $10.180 billion (versus a consensus estimate of $10.132 billion) and adjusted EPS of $11.48 to $12.07 (versus a consensus estimate of $11.87).
Concentrix shares fell 6.9% to close at $24.67 on Wednesday.
These analysts made changes to their price targets on Concentrix following earnings announcement.
- Baird analyst David Koning maintained Concentrix with an Outperform rating and lowered the price target from $52 to $40.
- Canaccord Genuity analyst Luke Morison maintained the stock with a Buy and cut the price target from $80 to $55.
- Barrington Research analyst Vincent Colicchio maintained Concentrix with an Outperform rating and lowered the price target from $62 to $38.
Considering buying CNXC stock? Here’s what analysts think:
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