Concentrix

CNXC · NASDAQ

$29.25+$1.03 (+3.65%)TodayMarket closed · Oct 20, 4:32 PM ET

Prev close $28.22

CNXC analyst rating

BuyConsensus of 4 analysts over the last 12 months. 75% rate it a buy.

Strong buy0
Buy3
Hold1
Underperform0
Sell0

12-month price target · 8 analysts

Average $38.38 (+31.2% upside)

Low: $26.02
Now: $29.25
High: $69.30

Upgrades and downgrades

The latest rating actions, newest first

CNXC analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Canaccord Genuity	Sep 30, 2026	Maintains	Buy	$45.00	50%
B of A Securities	Jun 30, 2026	Maintains	Neutral	$32.00 → $26.00	61%
Canaccord Genuity	Jun 30, 2026	Maintains	Buy	$55.00 → $45.00	50%
Barrington Research	Jun 30, 2026	Maintains	Outperform	$38.00 → $30.00	50%
Baird	Jun 30, 2026	Maintains	Outperform	$40.00 → $30.00	66%
Barrington Research	Jun 22, 2026	Maintains	Outperform	$38.00	50%
Barrington Research	Mar 25, 2026	Maintains	Outperform	$62.00 → $38.00	50%
Canaccord Genuity	Mar 25, 2026	Maintains	Buy	$80.00 → $55.00	50%
Baird	Mar 25, 2026	Maintains	Outperform	$52.00 → $40.00	66%
Barrington Research	Mar 17, 2026	Maintains	Outperform	$62.00	50%

The case for and against

Updated Oct 14, 2026

Bull case

Concentrix is attractive because its revenue pressure is being driven more by timing and customer mix shifts than by a worsening competitive position, while both hyperscaler clients continue expanding in other areas and AI deployments are already improving wallet share. Despite a Q3 revenue decline of 0.5% in constant currency and a FY26 revenue guide cut to $9.827 billion-$9.877 billion, non-GAAP operating income rose to $309 million with a 12.6% margin, Q4 implies about 12.9%, and free cash flow guidance remains $630 million-$650 million. With net debt reduced to about $4.12 billion, projected leverage near 2.6x year-end, and roughly $2 billion of free cash flow expected over the next three years, the stock offers a compelling self-funding deleveraging story that can support equity value even before consolidated growth reaccelerates.

Bear case

Concentrix is facing a deteriorating fundamental setup as revenue guidance was cut for the second straight quarter, with Q3 constant-currency revenue down 0.5% and Q4 guided to a 3% to 5% decline, pulling full-year growth to a slight decline from ~0.75% growth in June. The outlook is weakened by accelerated offshoring, a ~3% headwind in the quarter, and a compressed hyperscaler exit that now ends by Q4 instead of Q2'27, creating outsized pressure in Q4 and some spillover into Q1 and Q2. Healthcare and tech/consumer electronics remain weak, while macro risk, customer concentration, and heavy delivery-center exposure in the Philippines, India, China, and Brazil add further downside to earnings visibility.

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