Accenture (ACN, $325.41) boosts revenue outlook, following stellar Q2 performance
Accenture reported stellar performance in its second quarter, leading it to raise its revenue outlook.
The company’s revenue grew +24% year-over-year to $15 billion in its second quarter ended February. The company’s new bookings in the quarter came in at $19.6 billion, up +22% from the year-ago period, with consulting and outsourcing revenue of $10.9 billion and $8.7 billion respectively.
The solid performance in its second quarter led it to boost its revenue growth guidance for the year (ending August) to 24%-26%, vs. prior forecast of 19%-22%.
The company projects current-quarter revenue between $15.70 billion and $16.15 billion, compared with analysts’ average estimate of $15.11 billion (based on Refinitiv IBES data).
Accenture’s clients include more than three-quarters of the Fortune Global 500 companies across communications, media & technology as well as financial services industries. The company is also strategically investing in cloud, and partnerships to gain more market share.
ACN sees its 50-day moving average cross bullishly above its 200-day moving average
The 50-day moving average for ACN moved above the 200-day moving average on September 23, 2024. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on October 01, 2024. You may want to consider a long position or call options on ACN as a result. In of 71 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for ACN just turned positive on September 30, 2024. Looking at past instances where ACN's MACD turned positive, the stock continued to rise in of 46 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where ACN advanced for three days, in of 344 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 321 cases where ACN Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The RSI Indicator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 9 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where ACN declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
ACN broke above its upper Bollinger Band on September 16, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding price growth. ACN’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 80, placing this stock better than average.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (7.825) is normal, around the industry mean (11.156). P/E Ratio (30.899) is within average values for comparable stocks, (47.102). Projected Growth (PEG Ratio) (2.209) is also within normal values, averaging (1.602). Dividend Yield (0.015) settles around the average of (0.024) among similar stocks. P/S Ratio (3.464) is also within normal values, averaging (44.977).
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
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General Information
an investment holding company with interest in providing management consulting, technology and outsourcing services
Industry InformationTechnologyServices