On May 19, JPMorgan upgraded Cognizant Technology Solutions Corporation (NASDAQ:CTSH) from Neutral to Overweight and raised the price target from $88 to $92. The upgrade comes after the company reported its fiscal first quarter results for 2025, where it beat market expectations. The company grew its revenue by 7.46% year-over-year to $5.12 billion, beating expectations by $52 million. The EPS came in at $1.23, outperforming the analysts’ expectations by $0.03.
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JPMorgan noted that Cognizant Technology Solutions Corporation has been making significant strides in closing the growth gap as compared to its peers. The company is achieving this by focusing on execution, closing large deals, and employee retention. Cognizant Technology Solutions Corporation reported growing its total bookings by 3% on a 12-month trailing basis, with four large deals, including a mega deal worth more than $500 million TCV. The firm believes that Cognizant Technology Solutions Corporation is aligned with the cost-cutting project trend and is capturing a fair share of large projects. Moreover, the firm also likes the vertical revenue mix of the company.
Cognizant Technology Solutions Corporation is a multinational company that provides artificial intelligence, digital engineering, consulting, application development, systems integration, and other related services to businesses.
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