UPDATE: Cowen Downgrades Cognizant Technology Solutions (CTSH) to Market Perform

July 28, 2022 7:36 AM EDT
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Price: $60.10 --0%

Rating Summary:
    11 Buy, 25 Hold, 4 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 3 | Down: 8 | New: 3
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(Updated - July 28, 2022 7:37 AM EDT)

Cowen analyst Bryan Bergin downgraded Cognizant Technology Solutions (NASDAQ: CTSH) from Outperform to Market Perform with a price target of $75.00 (from $86.00).

The analyst comments "We downgrade shares of CTSH to Market Perform following disappointing 2Q bookings & revenue results. We see a lack of upside catalysts as uncertainty previously focused around margin shifts to top line. We await more consistent performance across operations & financials that support more confidence in targets, modestly pare estimates & PT to $75."

For an analyst ratings summary and ratings history on Cognizant Technology Solutions click here. For more ratings news on Cognizant Technology Solutions click here.

Shares of Cognizant Technology Solutions closed at $70.30 yesterday.

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