Here's What the Wall Street Thinks About ExlService Holdings (EXLS)

​ExlService Holdings, Inc. (NASDAQ:EXLS) is one of the Best Mid Cap Tech Stocks to Buy According to Analysts. On October 30, Puneet Jain from J.P. Morgan reiterated a Buy rating on ExlService Holdings, Inc. (NASDAQ:EXLS) but lowered the price target from $52 to $49. Earlier, on October 29, Bryan Bergin from TD Cowen also reiterated his Buy rating with a $52 price target.

The reiteration comes after the company reported strong fiscal Q3 2025 results on October 28, beating revenue and EPS estimates by $7.13 million and $0.01, respectively. Revenue grew 12% year-over-year to $530 million, and EPS rose 11% to $0.48, during the same time. Management attributed the double-digit growth to a 9% increase in its Insurance segment revenue, which benefited from clients transitioning to AI-powered operations. Notably, approximately 56% of total revenue came from ExlService’s data and AI-powered solutions and services.

In addition, more than 75% of the company’s revenue is recurring. Management expects both the insurance and Healthcare and Life Sciences to continue growing, driven by increased adoption of AI workflows. Consequently, full-year revenue guidance was raised to a range of $2.07 billion to $2.08 billion, up from the previous range of $2.050 billion to $2.07 billion.

​Analyst Bryan Bergin of TD Cowen commented that he expects the revenue growth trend to continue, driven by clients getting more comfortable with GenAI and agentic scaling.

​ExlService Holdings, Inc. (NASDAQ:EXLS) is a global data and AI company that provides services and solutions to enhance client business models, drive better outcomes, and unlock growth with speed.

While we acknowledge the potential of EXLS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.