Oppenheimer Lowers Genpact Price Target to $20.00 (G)
Investment analysts at Oppenheimer decreased their price objective on shares of Genpact (NYSE:G) from $22.00 to $20.00 in a note issued to investors on Friday, AR Network reports. Oppenheimer’s target price would suggest a potential upside of 40.06% from the stock’s previous close.
Shares of Genpact (NYSE:G) traded down 17.12% during mid-day trading on Friday, hitting $14.28. 23,192,980 shares of the company’s stock traded hands. Genpact has a 52 week low of $13.68 and a 52 week high of $21.30. The stock has a 50-day moving average of $17.54 and a 200-day moving average of $18.82. The company has a market cap of $3.287 billion and a price-to-earnings ratio of 17.23.
Genpact (NYSE:G) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.25 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.25. The company had revenue of $558.50 million for the quarter, compared to the consensus estimate of $550.34 million. During the same quarter last year, the company posted $0.25 earnings per share. Genpact’s revenue was up 10.0% compared to the same quarter last year. On average, analysts predict that Genpact will post $1.13 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at BMO Capital Markets cut their price target on shares of Genpact from $19.00 to $18.00 in a research note to investors on Friday. Separately, analysts at JPMorgan Chase & Co. downgraded shares of Genpact from an “overweight” rating to a “neutral” rating in a research note to investors on Friday. They now have a $17.00 price target on the stock, down previously from $19.00. Finally, analysts at Wells Fargo & Co. downgraded shares of Genpact from an “outperform” rating to a “market perform” rating in a research note to investors on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $18.50.
Genpact Limited (NYSE:G) is engaged in business process management and information technology services, leveraging the power of processes, analytics and technology to help its clients drive intelligence across their enterprises.
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