Amdocs (NASDAQ:DOX) Issues Q3 Earnings Guidance

Amdocs (NASDAQ:DOX) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.57-1.63 for the period, compared to the consensus estimate of $1.67. The company issued revenue guidance of $1.235-1.275 billion, compared to the consensus revenue estimate of $1.26 billion. Amdocs also updated its FY 2024 guidance to 6.320-6.560 EPS.

Analysts Set New Price Targets

DOX has been the topic of a number of recent analyst reports. Citigroup lifted their price target on Amdocs from $96.00 to $104.00 and gave the stock a buy rating in a report on Wednesday, January 17th. StockNews.com cut Amdocs from a strong-buy rating to a buy rating in a research note on Friday, March 15th. Finally, Barclays increased their price target on shares of Amdocs from $105.00 to $115.00 and gave the company an overweight rating in a research report on Thursday, February 8th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Amdocs presently has an average rating of Buy and a consensus price target of $108.60.

Amdocs Stock Performance

Shares of DOX stock traded up $0.86 on Wednesday, hitting $85.91. 743,750 shares of the stock were exchanged, compared to its average volume of 660,316. Amdocs has a one year low of $78.38 and a one year high of $99.75. The firm’s 50 day moving average is $88.59 and its two-hundred day moving average is $87.52. The firm has a market capitalization of $10.10 billion, a PE ratio of 18.40, a P/E/G ratio of 1.36 and a beta of 0.70. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.21.

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

Amdocs Company Profile

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.