On June 20, Accenture plc (NYSE: ACN) is scheduled to disclose its fiscal 2024 third-quarter results prior to the market's opening. In the past four quarters, ACN has consistently surpassed earnings estimates, demonstrating a solid track record of exceeding earnings expectations.
ACN Quarterly Revenue Forecast
Analysts estimate for revenue is $16.5 billion, which is marginally lower than the third-quarter fiscal 2023 figure. The anticipated revenue decline is due to weakness in the software and platforms, communications and media, and banking and capital markets sectors, as well as diminished discretionary spending.
The forecasted revenue for Managed Services segment is $8.2 billion, which represents a 4.6% year-over-year increase. The SynOps platform, which is employed by the company to improve automation and efficiency, is likely to be the driving force behind this growth, particularly in the petroleum marketing sector.
The Health & Public Services segment could show $3.4 billion in revenues, which represents a 3.8% year-over-year increase. The Resources segment is anticipated to generate $2.5 billion, representing a 7.5% increase from the same quarter last year.
Despite declines in banking, software and platforms, capital markets, and communication and media, North America revenues are expected to slightly increase to $7.7 billion in terms of geographical performance. Revenues from the EMEA region are estimated to be $5.8 billion, a minor decrease from the previous year, as a result of declines in the banking, media, and communications capital markets.
Accenture Plc (ACN) Key Acquisition
Accenture has also finalized the acquisition of Parsionate, a data consultancy that specializes in the development of data products and the implementation of modern data foundation services, such as data strategy development and technology implementation.
Parsionate is distinguished for its ability to bridge the distance between data architecture and business context, and it possesses significant capabilities in the retail, industrial, consumer goods, and life sciences sectors. Accenture will be able to provide innovative, data-driven solutions and strengthen its data and AI capabilities in Europe as a result of this acquisition.
The acquisition, which was initially announced on May 2, 2024, will add 130 professionals to Accenture Technology's Data & AI division, including data consultants, architects, and engineers. Thomas Sperrfechter and Michael Fieg, the founders of Parsionate, will oversee the data architecture and management portfolio in Germany, Austria, and Switzerland.
ACN Stock Forecast Technical Analysis
In the daily chart of ACN stock price, the recent price showed a prolonged selling pressure from the 387.59 high from where a 26% crash is visible.
Based on the volume structure, the largest activity since November 2023 is at 335.41 level, which is way above the current price. Moreover, the Moving Average wave consisting of MA 150 to 250 became thicker above the current price, suggesting a weaker selling pressure.
In the near-term price action, the dynamic 20-day Exponential Moving Average is above the current Accenture stock price, with a bearish slope. In that case, a downside continuation is possible as long as the current price trades below the 294.45 resistance level.
On the other hand, any impulsive bullish pressure with a daily candle above the 300.00 psychological line could be a bullish reversal signal, targeting the 340.00 level.
