At the time of writing, Concentrix Corp. [CNXC] stock is trading at $59.42, down -3.85%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The CNXC shares have gain 3.36% over the last week, with a monthly amount drifted -8.27%, and not seem to be holding up well over a long-time horizon.
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On 26, March 2024, Concentrix Reports First Quarter 2024 Results. In a post published today on Yahoo Finance, Revenue at high end of guidance range.
From an analyst’s perspective:
Concentrix Corp. [NASDAQ: CNXC] stock has seen the most recent analyst activity on March 27, 2024, when BofA Securities downgraded its rating to a Underperform and also revised its price target to $60 from $85. Previously, Redburn Atlantic started tracking the stock with Neutral rating on September 06, 2023, and set its price target to $70. On August 24, 2023, Scotiabank initiated with a Sector Outperform rating and assigned a price target of $120 on the stock. BofA Securities downgraded its rating to a Neutral. Canaccord Genuity initiated its recommendation with a Buy and recommended $150 as its price target on April 12, 2023. Barrington Research started tracking with a Outperform rating for this stock on June 15, 2021, and assigned it a price target of $182. In a note dated January 08, 2021, Cross Research initiated an Buy rating and provided a target price of $115 on this stock.
For the past year, the stock price of Concentrix Corp. fluctuated between $56.81 and $113.65. Currently, Wall Street analysts expect the stock to reach $183 within the next 12 months. Concentrix Corp. [NASDAQ: CNXC] shares were valued at $59.42 at the most recent close of the market. An investor can expect a potential return of 207.98% based on the average CNXC price forecast.
Analyzing the CNXC fundamentals
According to Concentrix Corp. [NASDAQ:CNXC], the company’s sales were 7.88B for trailing twelve months, which represents an 46.83% jump. Gross Profit Margin for this corporation currently stands at 0.34% with Operating Profit Margin at 0.09%, Pretax Profit Margin comes in at 0.05%, and Net Profit Margin reading is 0.04%. To continue investigating profitability, this company’s Return on Assets is posted at 0.02, Equity is 0.08 and Total Capital is 0.07. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of1.28.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 58.30 points at the first support level, and at 57.19 for the second support level. However, for the 1st resistance point, the stock is sitting at 60.49, and for the 2nd resistance point, it is at 61.57.
Concentrix Corp. [CNXC] reported earnings per share of $2.57 for its fiscal quarter that ended on 2/28/2024. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $2.58/share, meaning a difference of -$0.01 and a surprise factor of -0.40%. By comparison, the stated earnings for the previous quarter ended on 11/29/2023 were $3.36 per share as compared to estimates of $3.08 per share, a difference of $0.28 representing a surprise of 9.10%.
Ratios To Look Out For
It is important to note that Concentrix Corp. [NASDAQ:CNXC] has a current ratio of 1.56. Also, the Quick Ratio is 1.56, while the Cash Ratio stands at 0.23. Considering the valuation of this stock, the price to sales ratio is 0.50, the price to book ratio is 0.95 and price to earnings (TTM) ratio is 12.24.
Transactions by insiders
Recent insider trading involved Fogarty Jane, EVP, Legal, that happened on Apr 03 ’24 when 400.0 shares were purchased. Director, Hayley Kathryn completed a deal on Apr 01 ’24 to buy 379.0 shares. Meanwhile, EVP, Legal Fogarty Jane bought 200.0 shares on Jan 30 ’24.
