Needham & Company Reaffirms Strong-Buy Rating on Cognizant (CTSH)

By admin | 6 years ago

Cognizant (NASDAQ: CTSH)‘s stock had its “strong-buy” rating restated by analysts at Needham & Company in a research report issued to clients and investors on Friday.

Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley (NYSE: MS) reiterated an “equal weight” rating on shares of Cognizant in a research note to investors on Friday, April 13rd. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Cognizant in a research note to investors on Monday, March 12nd. They now have a $77.00 price target on the stock. Finally, analysts at RBC Capital (NYSE: RY) initiated coverage on shares of Cognizant in a research note to investors on Tuesday, February 28th. They set an “outperform” rating and a $84.00 price target on the stock.

Cognizant traded down 19.18% on Friday, hitting $56.301. Cognizant has a 52-week low of $53.54 and a 52-week high of $83.48. The company has a market cap of $17.080 billion and a price-to-earnings ratio of 24.44.

Cognizant last posted its quarterly earnings results on Monday, May 7th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.07. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. Analysts expect that Cognizant will post $0.83 EPS next quarter.

Cognizant Technology Solutions Corporation is a provider of custom information technology (IT) consulting and technology services, and outsourcing services.

About the author