These Analysts Cut Their Forecasts On Concentrix Following Q1 Results

Concentrix Corporation (NASDAQ: CNXC) reported Q1 adjusted earnings of $2.61 per share, missing estimates of $2.65, while revenue of $2.500 billion exceeded expectations with a 5.4% year-over-year increase. For Q2, the company forecasts revenue between $2.460 billion and $2.485 billion and adjusted EPS of $2.57 to $2.69, both below consensus estimates. Following the earnings announcement, Concentrix shares fell 6.9% to close at $24.67, prompting analysts to lower their price targets significantly. Baird reduced its target from $52 to $40, Canaccord Genuity from $80 to $55, and Barrington Research from $62 to $38.