Is Accenture Stock Going to $364? 1 Wall Street Analyst Thinks So.

Source The Motley Fool

At times, an analyst's price target cut can be a bit deceiving. The move doesn't necessarily mean the pundit has turned bearish on the affected stock. Often, it's more of an adjustment that leaves the basic investment thesis intact.

That was the dynamic behind a recent fair-value assessment chop to storied business consultancy Accenture's (NYSE: ACN) stock by a prognosticator following it.

Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More »

A $32 cut in Accenture's price target

As the stock market was about to close for the weekend on Friday last week, Piper Sandler's Arvind Ramnani pulled the lever on his Accenture price target cut. In his opinion, the stock could go to $364, down notably from his previous price target of $396. However, he maintained his buy recommendation. Even at the reduced level, Ramnani is anticipating an upside of 18.3% over the next 12 months from its current price.

Ramnani's revision came one day after the company published its latest set of quarterly earnings, and provided a business update. According to reports, the analyst is concerned with uncertainty about the macroeconomy, as well as a possible decline in Accenture's business with clients in the public sector due to the current, aggressive cost-cutting push by the Trump administration.

Ramnani also wrote that the quarter was a lackluster one for Accenture, with those factors contributing to flat bookings during the period.

Uncertainty reigns

The pundit's (somewhat) revised take on Accenture is convincing, given recent developments, although I'm not so sure that I'd be bullish on the stock.

A lot of uncertainty is swirling around our economy now, and the company might not be insulated from much of it. In down times, clients tend to cut their spending on consultancy services, so I don't think the timing is great for Accenture's shares at the moment.

Should you invest $1,000 in Accenture Plc right now?

Before you buy stock in Accenture Plc, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Accenture Plc wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $721,394!*

Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.

See the 10 stocks »

*Stock Advisor returns as of March 24, 2025

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Accenture Plc. The Motley Fool has a disclosure policy.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Solana (SOL) Faces Continued Downside Risk—More Losses LikelySolana started a fresh decline from the $155 zone. SOL price is now consolidating near $145 and might extend losses below the $142 support.
Author  NewsBTC
May 06, Tue
Solana started a fresh decline from the $155 zone. SOL price is now consolidating near $145 and might extend losses below the $142 support.
placeholder
Analysts Highlight 4 Reasons Why ETH Price Could Rebound Strongly in MayEthereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.
Author  Beincrypto
May 07, Wed
Ethereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.
placeholder
Ethereum Price Ready to Surge—$2,000 Level Could Be Within ReachEthereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.
Author  NewsBTC
Yesterday 03: 39
Ethereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.
placeholder
Sui Price Forecast: SUI bulls aim for 15% gains as open interest and bullish bets increase among tradersSui (SUI) price extends recent gains, soaring10% higher at the time of writing on Thursday and approaching its key resistance level at $3.65.
Author  FXStreet
21 hours ago
Sui (SUI) price extends recent gains, soaring10% higher at the time of writing on Thursday and approaching its key resistance level at $3.65.
placeholder
Ethereum To ‘Witness Big Breakout’ In The Next Two Weeks If This Level HoldsAs price continues to trade sideways, Ethereum (ETH) has reclaimed a crucial level, which could kickstart a breakout toward the $2,100 resistance.
Author  NewsBTC
21 hours ago
As price continues to trade sideways, Ethereum (ETH) has reclaimed a crucial level, which could kickstart a breakout toward the $2,100 resistance.
goTop
quote