#3 - Infosys (NYSE:INFY)
Infosys Limited (NYSE: INFY) is a global leader in next-generation digital services and consulting, including artificial intelligence (AI) and cloud services. The company is based in India, one of the emerging economies investors are watching closely.
As much talk as there is of the U.S. trying to onshore supply chains, India remains a popular destination for companies that are looking to outsource their IT. And once they sign on with Infosys, the company notes that it has a low attrition rate of around 15%. The company is seeing growing demand for AI-based services, particularly in its home country, even while acknowledging that the buildout of an AI infrastructure may be delayed for some of its customers.
INFY stock has an RSI of 26.25 after a sharp sell-off that began in February 2024 as the appetite for tech stocks diminished. Still, analysts are projecting high single-digit earnings growth in the next 12 months, and two analysts upgraded the stock in April 2024.
About Infosys
Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides digital marketing and digital workplace, digital commerce, digital experience and interactions, metaverse, data analytics and AI, applied AI, generative AI, sustainability, blockchain, engineering, Internet of Things, enterprise agile DevOps, application modernization, cloud, digital process automation, digital supply chain, Microsoft business application and cloud business, service experience transformation, energy transition, cyber security, and quality engineering solutions; Oracle, SAP, and Saleforce solutions; API economy and microservices; and Topaz, an AI-first set of services, solutions, and platforms using generative AI technologies.
Read More - Current Price
- $22.79
- Consensus Rating
- Hold
- Ratings Breakdown
- 6 Buy Ratings, 4 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $19.68 (13.6% Downside)
