TTEC Holdings: Hold Rating Maintained Amidst Forecast Adjustments and Market Challenges

Barrington analyst Vincent Colicchio has maintained their neutral stance on TTEC stock, giving a Hold rating on May 9.

Vincent Colicchio has given his Hold rating due to a combination of factors including TTEC Holdings’ performance and market conditions. While TTEC’s revenue for Q1/24 slightly exceeded forecasts, this was overshadowed by a year-over-year decline and a shortfall in non-GAAP EPS, which missed expectations by three cents. Even though adjusted EBITDA met Colicchio’s forecast, challenges in predictability led management to adjust their EPS guidance for 2024 downward. These revisions are indicative of caution regarding the company’s near-term earnings potential.
Furthermore, Colicchio has taken into consideration the broader context of weak demand and valuation considerations. The decision to maintain a Market Perform rating reflects these concerns, as well as the reduced EPS forecasts for both 2024 and 2025, suggesting a cautious outlook on the company’s growth and profitability in the immediate future. The analyst’s assessment points to a guarded stance on TTEC’s stock, advising investors to hold their positions until there is clearer evidence of the company’s direction and financial stability.

Colicchio covers the Technology sector, focusing on stocks such as TTEC Holdings, Asure, and Information Services Group. According to TipRanks, Colicchio has an average return of 9.4% and a 55.30% success rate on recommended stocks.

In another report released on May 9, Bank of America Securities also reiterated a Hold rating on the stock with a $9.00 price target.

TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.

TTEC Holdings (TTEC) Company Description:

TTEC Holdings, Inc. is a digital global customer experience technology and services company focused on the design, implementation and delivery of transformative solutions for many of brands. The company operates through the following segments: TTEC Digital and TTEC Engage. TTEC Digital segment provides design, build and operate tech-enabled, insight-driven CX solutions. TTEC Engage segment provided digitally-enabled customer care, acquisition, and fraud prevention services. The company was founded by Kenneth D. Tuchman in 1982 and is headquartered in Englewood, CO.