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ExlService Holdings, Inc. (EXLS) stock has reached a new 52-week high, touching the $37 mark, as investors rally behind the company's strong performance and growth prospects. This milestone reflects a significant uptrend from the previous year, with the stock showcasing an impressive 1-year change of 30.3%. The surge to the 52-week high underscores the market's confidence in EXLS's business model and its ability to sustain growth in a competitive sector. Investors are closely monitoring the stock's trajectory, as it continues to outperform expectations and deliver value to shareholders.
In other recent news, Exlservice Holdings (NASDAQ:EXLS), Inc. demonstrated robust financial growth, with an 11% year-over-year increase in revenue to $448 million in the second quarter of 2024. The company's adjusted earnings per share also grew by 11% to $0.40. The firm has revised its full-year revenue guidance upwards to between $1.805 billion and $1.83 billion, indicating an expected growth of 11% to 12% year-over-year. The adjusted earnings per share are anticipated to be in the range of $1.59 to $1.62, reflecting a projected growth of 11% to 13% year-over-year.
In addition, Exlservice announced the strategic acquisition of ITI Data, aimed at enhancing its data management capabilities and expanding its client base. The company has also expanded its credit facilities, securing an additional $200 million in funding to increase its financial flexibility. This move, managed by Citibank, N.A., is designed to provide Exlservice with increased capital for potential investments, operational needs, or other corporate purposes.
Exlservice's stock received an upgraded rating from Jefferies from Hold to Buy, accompanied by a raised price target to $42.00, reflecting confidence in the company's financial prospects and market position. Analysts from Jefferies cited Exlservice's resilient business model and industry-leading organic growth rate as key factors in their positive outlook. These developments highlight Exlservice's recent strides in navigating the market and delivering value to its shareholders.
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