Stifel reconfirms Accenture’s purchase rating after third quarter revenue beats and solid growth
Accenture Plc (NYSE:ACN) rank between Best stocks to buy according to hedge funds. On June 23rd, Stifel reaffirmed its $355 price target and purchased an Accenture PLC (NYSE:ACN) rating in response to the company’s third quarter results.
Accenture’s third quarter results exceeded expectations, with earnings per share rising 13% against the consensus forecast of 6% and 4% against the 2% forecast of 2% compared to the previous year. Consulting rose 6%, and both the consulting and outsourcing industries showed consistency by confirming that outsourcing is high in single-digit growth.
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Management, who hesitated to explain that Doge (Government’s Bureau of Efficiency) contributed to a decline in stock performance on June 20th, noted that data points such as reservations and personnel could be interpreted negatively without further investigation.
Given the continued macroeconomic uncertainty, the company’s guidance for organic growth of 0-4% for the fourth quarter remained largely unchanged.
Based in Dublin, Ireland, Accenture PLC (NYSE:ACN) is a multinational professional services company specializing in IT consulting, digital transformation and management solutions.
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read more: 10 Best Magic Formula Stocks of 2025 and Best Retirement Stocks to Buy According to Hedge Funds
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