Key Highlights:
- Accenture (ACN, Financial) surpassed revenue expectations, reporting $17.7 billion for Q3.
- Shares fell due to a 6% decline in new bookings, missing forecasts at $19.7 billion.
- The company boosted its full-year revenue and free cash flow outlook.
Accenture's Fiscal Third-Quarter Highlights
Accenture (ACN) has posted robust fiscal third-quarter results, with revenue hitting $17.7 billion, exceeding projections by $380 million. Despite this achievement, the stock experienced a nearly 4% drop in premarket trading. This reaction stemmed from a 6% decrease in new bookings, which came in at $19.7 billion, falling short of analyst estimates. Nevertheless, Accenture remains optimistic, having updated its full-year revenue growth forecast alongside its free cash flow outlook.
Wall Street Analysts' Forecast
According to 22 analysts, the one-year price targets for Accenture PLC (ACN, Financial) average at $355.15, with a high of $395.00 and a low of $290.00. This average target suggests a potential upside of 15.92% from the current share price of $306.38. Investors can explore more detailed price target data on the Accenture PLC (ACN) Forecast page.
Consensus from 25 brokerage firms positions Accenture PLC's (ACN, Financial) average recommendation at 1.9, signifying an "Outperform" status. This recommendation is on a scale where 1 equates to Strong Buy and 5 to Sell.
Accenture's GF Value Estimation
GuruFocus estimates suggest Accenture PLC (ACN, Financial) has a GF Value of $358.47 in a year, indicating a 17% upside from its current price of $306.38. The GF Value reflects what the stock should be trading at based on historical multiples, past business performance, and future projections. Detailed data and insights can be found on the Accenture PLC (ACN) Summary page.
