Goldman Discusses ExlService Holdings Earnings (EXLS)

Goldman Sachs is out with a research report on ExlService Holdings, Inc. EXLS after it reported earnings. It has a Neutral rating on shares. In a note to clients, Goldman writes, "While strong 4Q results and solid revenue outlook confirm that EXLS' revenue growth should continue to outpace its offshore BPO peers, a declining margin trajectory in 2011 (vs. our and Street expectation for modest margin expansion) will likely temper near-term share performance. We will have more details post management's conference call at 10:00 a.m. ET. Our estimates and price target are unchanged." Shares of EXLS gained $1.72 in after-hours trading to $23.94, a gain of 7.74%.