The long-term development drivers of Accenture inventory are anticipated to be the prime subject on the firm’s investor day on Thursday. But one analyst would not anticipate up to date monetary steering for ACN inventory.
Accenture (ACN) shares have retreated 18% in 2022. The world tech consulting and providers firm reported fiscal second-quarter earnings on March 17 that topped estimates.
Morgan Stanley analyst James Faucette in a report stated the investor day may elevate ACN inventory if administration gives “qualitative commentary around drivers of longer-term growth.”
ACN Stock: No Let Up In Acquisitions
“While we do not expect an explicit multiyear outlook at this week’s conference, we see the opportunity for management to provide meaningful context around the potential for structurally faster growth vs. pre-pandemic levels.”
Meanwhile, Accenture continues to make acquisitions to maneuver into digital, cloud computing, cybersecurity and synthetic intelligence. The firm has earmarked roughly $4 billion for acquisitions in fiscal 2021 and 2022.
“This week’s conference marks the first time CEO Julie Sweet and CFO KC McClure have addressed the investment community in this type of forum since assuming their respective roles, with the company’s last (investor day) in April 2018,” Faucette stated.
Heading into the investor day, ACN inventory has an IBD Relative Strength Rating of 71, in response to IBD Stock Checkup.
Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wi-fi, synthetic intelligence, cybersecurity and cloud computing.
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