Accenture (ACN) is uniquely positioned to help clients transition to a “digital core” despite pressure on demand for the Dublin-based consulting firm’s services due to macro reasons, analysts at RBC Capital Markets said Thursday.
RBC Capital analysts noted that the company’s bookings decreased 10% year over year on a reported basis, while managed services bookings growth declined 18% year over year. Accenture’s management called out pressure on revenue and bookings from smaller deals, though revenue from GenAI projects continued to accelerate but the magnitude remained small.
RBC maintained its outperform stock rating on Accenture and price target of $340 per share.