Infosys (NYSE:INFY) reported downbeat earnings for the first quarter on Thursday.
The company posted quarterly earnings of 20 cents per share which missed the analyst consensus estimate of 21 cents per share. The company reported $5.082 billion in sales, up 2.85% over sales of $4.941 billion the same period last year.
Infosys narrowed its FY2027 sales guidance from $20.460 billion-$20.864 billion to $20.460 billion-$20.763 billion.
“AI momentum is now rapidly converting into revenue, which demonstrates how Infosys’ differentiated enterprise AI value proposition is translating into consistent market share gains. Strong large deal wins, powered by Infosys Topaz, reinforce client confidence in our ability to be the strategic partner of choice for AI transformation driving tangible business value,” said Salil Parekh, CEO and MD.
Infosys named Ashiss Kumar Dash as CEO, effective April 1, 2027.
Infosys shares fell 2.7% to $10.67 in pre-market trading.
These analysts made changes to their price targets on Infosys following earnings announcement.
- HSBC analyst Yogesh Aggarwal downgraded the stock from Buy to Hold and lowered the price target from $14.24 to $11.47.
- JP Morgan analyst Ankur Rudra downgraded the stock from Overweight to Neutral and cut the price target from $12.7 to $10.9.
Considering buying INFY stock? Here’s what analysts think:
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