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On Monday, Canaccord Genuity adjusted its outlook on TTEC Holdings Inc. (NASDAQ:TTEC), lowering the price target to $3.50 from the previous $4.50, while keeping a Hold rating on the shares. The revision followed TTEC’s latest earnings report, which showed a decline in revenue and income from operations. The stock, currently trading at $3.38, sits near its 52-week low of $3.32, having declined over 75% in the past year. According to InvestingPro analysis, the company appears undervalued based on its Fair Value metrics.
TTEC Holdings reported a revenue of $567 million, marking a 9.4% drop from the same period last year. The company’s performance was dissected into two segments, with Digital revenue falling by 3.5% year-over-year and Engage revenue decreasing by 10.8%. The Engage segment’s lower revenue was largely due to reduced healthcare volumes, the loss of a significant financial services client early in 2024, and the strategic decision to exit certain underperforming client programs. A decline in one-time on-premise product sales was the main reason behind the reduced Digital revenue. InvestingPro data reveals the company operates with a significant debt burden, with a debt-to-equity ratio of 4.31, though its current ratio of 1.84 indicates sufficient liquidity to meet short-term obligations.
The company’s income from operations came in at $15 million, which was a slight decrease from $17 million reported in the previous year. Looking ahead, TTEC Holdings provided guidance for the full year 2025, projecting revenue to be in the range of $2,014 to $2,064 million. Additionally, the company expects a non-GAAP adjusted EBITDA margin between 10.7% and 11.4%, and an adjusted EPS forecast of $0.95 to $1.20.
The price target adjustment by Canaccord Genuity reflects the latest financial outcomes and future projections provided by TTEC Holdings Inc. The Hold rating suggests that Canaccord Genuity advises investors to maintain their current position in TTEC stock without increasing or decreasing their holdings significantly.
In other recent news, TTEC Holdings Inc. reported its fourth-quarter 2024 financial results, which showed a slight miss on both earnings per share and revenue compared to analyst expectations. The company posted an EPS of $0.19, falling short of the projected $0.21, and reported revenue of $567.4 million, below the anticipated $575.2 million. For the full year 2024, TTEC’s revenue was $2.21 billion, marking a 10.4% decrease from 2023. Despite these challenges, TTEC continues to focus on AI integration across its services and anticipates revenue growth in the latter half of 2025.
In addition to financial results, TTEC’s CEO Ken Tuckman emphasized the company’s commitment to leveraging AI to enhance customer experiences. The company is also expanding its offshore delivery capabilities to meet client needs more efficiently. Looking ahead, TTEC has set its 2025 revenue guidance at $2.04 billion, projecting a 7.6% decrease from 2024, but expects growth in the second half of the year driven by operational efficiencies. The company is also projecting an adjusted EBITDA of $225 million for 2025, representing 11% of revenue.
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