ACN Stock Price Forecast: Analyst Consensus and Market Outlook

What is Accenture's Forecast for 2024?

According to the research reports of 22 Wall Street equities research analysts, the average target price forecast for Accenture stock is 34140 with a high forecast of 38751 and a low.

Analyst Consensus and Market Outlook

The 20 analysts with 12-month price forecasts for Accenture stock have an average target of 34140, with a high estimate of 38751 and a low estimate of 29530.

The consensus recommendation among the 22 analysts is a "Buy" rating, with 17 analysts rating the stock a "Buy" and 5 analysts rating it a "Hold".

Key Factors Driving the Forecast

• Surging demand for digital transformation services: Accenture is well-positioned to capitalize on the increasing demand for digital transformation services as businesses seek to improve efficiency and competitiveness.
• Strong track record of execution: Accenture has a proven track record of delivering strong financial results and meeting or exceeding analyst expectations.
• Global presence and scale: Accenture's global presence and scale give it a competitive advantage in the rapidly growing digital transformation market.

Risks to the Forecast

• Economic downturn: An economic downturn could lead to reduced spending on digital transformation services, which could negatively impact Accenture's revenue and earnings.
• Competition: Accenture faces competition from a number of large and well-established IT consulting firms, which could limit its market share.
• Currency fluctuations: Accenture's revenue and earnings are denominated in US dollars, so fluctuations in currency exchange rates could impact its financial results.

Conclusion

The consensus analyst forecast for Accenture stock is positive, with an average target price of 34140 and a "Buy" rating. The key factors driving the forecast are the increasing demand for digital transformation services, Accenture's strong track record of execution, and its global presence and scale.