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 in -3.70% downward trend, sliding for three consecutive days on May 09, 2022
Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where ACN declined for three days, in 94 of 207 cases, the price declined further within the following month. The odds of a continued downward trend are 45%.
Current price $286.17 is below $312.07 the lowest support line found by A.I. Throughout the month of 04/13/22 - 05/16/22, the price experienced a -12% Downtrend. During the week of 05/09/22 - 05/16/22, the stock fell -0.46%.
The Momentum Indicator moved below the 0 level on April 11, 2022. You may want to consider selling the stock, shorting the stock, or exploring put options on ACN as a result. In 24 of 68 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 35%.
The Moving Average Convergence Divergence Histogram (MACD) for ACN turned negative on April 12, 2022. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 45 similar instances when the indicator turned negative. In 14 of the 45 cases the stock turned lower in the days that followed. This puts the odds of success at 31%.
ACN moved below its 50-day Moving Average on April 11, 2022 date and that indicates a change from an upward trend to a downward trend.
The 10-day Moving Average for ACN crossed bearishly below the 50-day moving average on April 22, 2022. This indicates that the trend has shifted lower and could be considered a sell signal. In 5 of 13 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 38%.
The Aroon Indicator for ACN entered a downward trend on May 16, 2022. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where ACN's RSI Oscillator exited the oversold zone, 13 of 16 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 81%.
The Stochastic Indicator shows that the ticker has stayed in the oversold zone for 6 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a +2.08% 3-day Advance, the price is estimated to grow further. Considering data from situations where ACN advanced for three days, in 228 of 377 cases, the price rose further within the following month. The odds of a continued upward trend are 60%.
ACN may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Tickeron has a positive outlook on this ticker and predicts a further increase by more than 4.00% within the next month with a likelihood of 74%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.
The Tickeron Price Growth Rating for this company is 61 (best 1 - 100 worst), indicating steady 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 SMR rating for this company is 58 (best 1 - 100 worst), indicating slightly weaker than average sales and a marginally 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 PE Growth Rating for this company is 37 (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 Profit vs. Risk Rating rating for this company is 16 (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 79, placing this stock better than average.
The Tickeron Valuation Rating of 15 (best 1 - 100 worst) indicates that the company is slightly undervalued 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 (8.834) is normal, around the industry mean (12.783). P/E Ratio (28.902) is within average values for comparable stocks, (75.636). ACN's Projected Growth (PEG Ratio) (1.896) is slightly higher than the industry average of (1.257). Dividend Yield (0.013) settles around the average of (0.022) among similar stocks. P/S Ratio (3.262) is also within normal values, averaging (6.382).
The industry, whose total market cap runs into trillions, makes hardware/software that allows data to be stored, retrieved, transmitted, and manipulated on computers. With the ever-increasing relevance of data, the information technology (IT) industry has gained momentous growth over the years, and continues to thrive on innovation. Some of the behemoths in the industry are International Business Machines Corporation, Accenture, and VMware, Inc.
The average market capitalization across the Information Technology Services Industry is 6.4B. The market cap for tickers in the group ranges from 0 to 181.6B. ACN holds the highest valuation in this group at 181.6B. The lowest valued company is ARSC at 0.
The average weekly price growth across all stocks in the Information Technology Services Industry was -0.29%. For the same Industry, the average monthly price growth was -11.08%, and the average quarterly price growth was 10.03%. DTST experienced the highest price growth at 61.21%, while SFWJ experienced the biggest fall at -48.72%.
- 4/27/22 5:34 AM: Accenture (ACN, $303.1) was a top loser this week, declining -5.45%
- 4/15/22 4:35 AM: Accenture (ACN, $319.47) was a top loser this week, declining -6.25%
- 3/31/22 6:39 AM: Accenture (ACN, $338.46) was a top weekly gainer, with a +5.6% jump
The average weekly volume growth across all stocks in the Information Technology Services Industry was 16.06%. For the same stocks of the Industry, the average monthly volume growth was 43.84% and the average quarterly volume growth was -25.06%
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Stocks in the group have a Negative Outlook today, backed by the TrendWeek Indicator. Tickeron has a negative outlook on this group and predicts a further decline by more than 4.00% within the next month with a likelihood of 40%. During the last month, the daily ratio of advancing to declining volumes was 1.03 to 1.
76 stocks in the group of tickers confirmed the negative outlook based on the Aroon indicator with average odds of 73%.
The most notable companies in this group are Accenture PLC (NYSE:ACN), International Business Machines Corp (NYSE:IBM), Xerox Holdings Corp (NASDAQ:XRX), Unisys Corp (NYSE:UIS).
The average market capitalization across the group is 7.7B. The market cap for tickers in the group ranges from 11.7K to 181.6B. ACN holds the highest valuation in this group at 181.6B. The lowest valued company is ONOV at 11.7K.
The average weekly price growth across all stocks in the group was 0.56%. For the same group, the average monthly price growth was -14.11%, and the average quarterly price growth was -29.47%. DTST experienced the highest price growth at 61.21%, while BLFDF experienced the biggest fall at -40.67%.
- 5/14/22 4:23 AM: C3ai (AI, $17.78) was a top weekly gainer, with a +9.82% jump
- 5/14/22 4:23 AM: GDS Holdings (GDS, $29.47) was a top weekly gainer, with a +6.24% jump
- 5/14/22 4:23 AM: Genpact (G, $43.06) was a top weekly gainer, with a +6.22% jump
The average weekly volume growth across all stocks in the group was 336.3%. For the same stocks of the group, the average monthly volume growth was 630.49% and the average quarterly volume growth was 155.14%
- 5/14/22 4:16 AM: The volume for Switch stock increased for two consecutive days, resulting in a record-breaking daily growth of 281% of the 65-Day Volume Moving Average
- 5/14/22 4:16 AM: The volume for Genpact stock increased for a consecutive 5 days, with an average daily gain of 112%
- 5/13/22 4:50 AM: The volume for Switch stock increased for one day, resulting in a record-breaking daily growth of 359% of the 65-Day Volume Moving Average
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows