Canaccord Genuity Group Reaffirms “Buy” Rating for Concentrix (NASDAQ:CNXC)

Concentrix (NASDAQ:CNXC)‘s stock had its “buy” rating reiterated by investment analysts at Canaccord Genuity Group in a research report issued on Wednesday, Benzinga reports. They currently have a $45.00 target price on the stock. Canaccord Genuity Group’s price target points to a potential upside of 73.95% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Robert W. Baird decreased their price target on shares of Concentrix from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, June 30th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Concentrix in a research note on Friday, July 24th. Zacks Research raised shares of Concentrix from a “strong sell” rating to a “hold” rating in a research note on Monday, August 31st. Bank of America decreased their price target on shares of Concentrix from $32.00 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. Finally, Barrington Research decreased their price target on shares of Concentrix from $38.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, June 30th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Concentrix has an average rating of “Hold” and an average price target of $33.50.

Concentrix Stock Up 3.9%

Shares of CNXC traded up $0.96 during mid-day trading on Wednesday, hitting $25.87. 1,719,669 shares of the company’s stock were exchanged, compared to its average volume of 1,660,586. The company has a market cap of $1.58 billion, a PE ratio of -0.67, a P/E/G ratio of 0.47 and a beta of 0.52. Concentrix has a 52 week low of $19.12 and a 52 week high of $49.37. The company has a 50-day simple moving average of $27.19 and a 200 day simple moving average of $26.40. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.23 and a quick ratio of 1.18.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings results on Tuesday, September 29th. The company reported $2.92 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.21. The company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.48 billion. Concentrix had a negative net margin of 23.99% and a positive return on equity of 25.00%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the business earned $2.78 EPS. Concentrix has set its FY 2026 guidance at 10.970-11.090 EPS and its Q4 2026 guidance at 2.860-2.980 EPS. On average, research analysts forecast that Concentrix will post 9.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Concentrix

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rothschild Investment LLC grew its stake in shares of Concentrix by 52.0% in the fourth quarter. Rothschild Investment LLC now owns 1,146 shares of the company’s stock valued at $48,000 after buying an additional 392 shares in the last quarter. Handelsbanken Fonder AB grew its stake in shares of Concentrix by 5.7% in the second quarter. Handelsbanken Fonder AB now owns 11,200 shares of the company’s stock valued at $251,000 after buying an additional 600 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Concentrix in the second quarter valued at $25,000. Hantz Financial Services Inc. grew its stake in shares of Concentrix by 244.0% in the fourth quarter. Hantz Financial Services Inc. now owns 1,727 shares of the company’s stock valued at $72,000 after buying an additional 1,225 shares in the last quarter. Finally, Nykredit A S bought a new position in Concentrix during the second quarter worth $29,000. 90.34% of the stock is owned by institutional investors.

About Concentrix

Concentrix Corporation (NASDAQ: CNXC) is a global technology and services company that helps businesses improve customer engagement, operational performance and digital experiences. The company provides customer experience management, business process outsourcing, technology services and consulting to organizations across industries including technology, retail, healthcare, financial services, communications and travel.

Its offerings include customer care and technical support, sales and revenue generation, fraud prevention, analytics, artificial intelligence, automation, digital transformation and back-office services.