Accenture Could Hit New All-Time High on Strong Q3 Earnings; Target Price $309

Accenture Could Hit New All-Time High on Strong Q3 Earnings; Target Price $309

Accenture, a global IT Services company that leverages a global workforce to provide consulting and outsourcing services to companies worldwide, is expected to report its fiscal third-quarter earnings of $2.24 per share, which represents year-over-year growth of about 18% from $1.90 per share seen in the same period a year ago.

The U.S-based IT giant would post year-over-year revenue growth of over 16% to $12.79 billion. In the last four consecutive quarters, on average, the company has delivered an earnings surprise of about 4%.

According to Jefferies, revenue and earnings have the potential to grow at a high single-digit pace in the next few years amidst favorable secular trends. The company is on pace to generate $50 billion in revenues in calendar 2021, up 14% year-on-year.