Accenture Analysts Cut Their Forecasts After Q4 Results

Accenture plc ACN reported mixed fourth-quarter financial results and issued weak FY24 adjusted EPS guidance.

The company reported quarterly revenue growth of 4% Y/Y to $15.98 billion, missing the consensus of $16.07 billion. Adjusted EPS of $2.71 beat the consensus of $2.66.

Accenture expects FY24 revenue growth of 2%-5% in local currency and adjusted EPS of $11.97-$12.32 vs. consensus of $12.46.

Accenture shares gained 2.2% to trade at $307.40 on Friday.

These analysts made changes to their price targets on Accenture following earnings announcement.

• Piper Sandler cut the price target on Accenture from $312 to $300. Piper Sandler analyst Arvind Ramnani maintained a Neutral rating.
• Baird lowered the price target on Accenture from $332 to $322. Baird analyst David Koning maintained a Neutral rating.
• TD Cowen slashed the price target on Accenture from $312 to $300. TD Cowen analyst Bryan Bergin maintained a Market Perform rating.
• BMO Capital cut the price target on Accenture from $360 to $350. BMO Capital analyst Keith Bachman maintained a Market Perform rating.

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