Concentrix Corporation (NASDAQ:CNXC) stock fell about 15% on Tuesday after the customer experience services provider reported weaker-than-expected fiscal second-quarter results and cut its full-year outlook, prompting Canaccord Genuity to lower its price forecast while maintaining a bullish rating.
Analyst Cuts Price Forecast After Guidance Reset Analyst Luke Morison cut his price forecast on Concentrix to $45 from $55 but reiterated a Buy rating, arguing that the stock's valuation remains attractive despite a weaker growth outlook.
The brokerage said the company's reduced fiscal 2026 guidance was the biggest concern.
Management lowered its constant-currency revenue growth outlook to about 0.75% from roughly 2.5%, indicating growth is expected to slow through the remainder of the year instead of accelerating in the second half.
Customer Spending Trends Weigh on Outlook Canaccord attributed the weaker outlook to structural pressures rather than a cyclical slowdown.
