While Concentrix Corp has underperformed by -0.57%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CNXC fell by -44.31%, with highs and lows ranging from $86.55 to $36.28, whereas the simple moving average fell by -13.17% in the last 200 days.
On October 03, 2024, Robert W. Baird started tracking Concentrix Corp (NASDAQ: CNXC) recommending Outperform. A report published by BofA Securities on August 28, 2024, Upgraded its rating to ‘Neutral’ for CNXC. BofA Securities also Downgraded CNXC shares as ‘Underperform’, setting a target price of $60 on the company’s shares in a report dated March 27, 2024. Redburn Atlantic Initiated an Neutral rating on September 06, 2023, and assigned a price target of $70. Scotiabank initiated its ‘Sector Outperform’ rating for CNXC, as published in its report on August 24, 2023. Canaccord Genuity also rated the stock as ‘Buy’.
Analysis of Concentrix Corp (CNXC)
Investors in Concentrix Corp will get a return regardless of how the company performs over the next quarter since the company’s dividend stands at $1.27 per share. Further, the quarter-over-quarter increase in sales is 9.75%, showing a positive trend in the upcoming months.
One of the most important indicators of Concentrix Corp’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of 5.89% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.42, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and CNXC is recording 755.41K average volume. On a monthly basis, the volatility of the stock is set at 4.20%, whereas on a weekly basis, it is put at 3.60%, with a loss of -9.73% over the past seven days. Furthermore, long-term investors anticipate a median target price of $66.25, showing growth from the present price of $48.71, which can serve as yet another indication of whether CNXC is worth investing in or should be passed over.
How Do You Analyze Concentrix Corp Shares?
The Information Technology Services market is dominated by Concentrix Corp (CNXC) based in the USA. When comparing Concentrix Corp shares with other companies under Technology, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 13.12, there is a growth in quarterly earnings of 57.01%.
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 29.06%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 71.12% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
CNXC shares are owned by institutional investors to the tune of 71.12% at present.
