Amdocs (NASDAQ:DOX) Issues FY24 Earnings Guidance

Amdocs (NASDAQ:DOX) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $6.32-6.56 for the period, compared to the consensus estimate of $6.50. The company issued revenue guidance of ~$4.96-5.06 billion, compared to the consensus revenue estimate of $5.04 billion. Amdocs also updated its FY 2024 guidance to 6.320-6.560 EPS.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. StockNews.com lowered Amdocs from a strong-buy rating to a buy rating in a report on Friday, March 15th. Barclays raised their price target on Amdocs from $105.00 to $115.00 and gave the company an overweight rating in a research report on Thursday, February 8th. Finally, Citigroup upped their price objective on shares of Amdocs from $96.00 to $104.00 and gave the company a buy rating in a research note on Wednesday, January 17th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of Buy and an average price target of $108.60.

Amdocs Stock Performance

Shares of Amdocs stock traded up $0.86 during trading on Wednesday, hitting $85.91. 743,750 shares of the company’s stock traded hands, compared to its average volume of 660,316. Amdocs has a 1 year low of $78.38 and a 1 year high of $99.75. The business has a 50-day simple moving average of $88.59 and a 200-day simple moving average of $87.52. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $10.10 billion, a P/E ratio of 18.40, a PEG ratio of 1.36 and a beta of 0.70.

Amdocs (NASDAQ:DOX) last announced its earnings results on Tuesday, February 6th. The technology company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.16. Amdocs had a net margin of 11.30% and a return on equity of 17.79%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the business earned $1.33 EPS. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, analysts forecast that Amdocs will post 5.87 EPS for the current year.

About Amdocs

Amdocs Limited, through its subsidiaries, provides software and services worldwide. It designs, develops, operates, implements, supports, and markets open and modular cloud portfolio. The company provides CES23, a 5G and cloud-native microservices-based market-leading customer experience suite, that enables service providers to build, deliver, and monetize advanced services; Amdocs Subscription Marketplace, a software-as-a-service-based platform that includes an expansive network of pre-integrated digital services, such as media, gaming, eLearning, sports, and retail to security and business services; the monetization suite for charging, billing, policy, and revenue management; Intelligent networking suite with a set of modular, flexible, and open service lifecycle management capabilities for network automation journeys; amAIz, a telco GenAI framework; Amdocs Digital Brands Suite, a pre-integrated digital business suite; and Amdocs eSIM Cloud for service providers.