Downward Price Target Revisions Follow Amdocs Limited (DOX) Earnings

Amdocs Limited (NASDAQ:DOX) is one of the 11 best 52-week low technology stocks to buy now. Barclays analyst Tavy Rosner reiterated an Overweight rating on Amdocs Limited (NASDAQ:DOX) on February 4. However, the analyst lowered the firm’s price target on the stock from $111 to $92. The analysts called the company’s first-quarter results resilient and highlighted several successes in the major strategic areas. At the same time, broader economic conditions are putting pressure on Amdocs’ markets. The analyst said in a research note that the investors are expected to focus on the company’s policy of returning double-digit earnings to shareholders.

In addition to Barclays, Stifel also shared its views on Amdocs Limited (NASDAQ:DOX) in response to the earnings report. On February 4, Stifel reduced its price target on the stock from $97 to $88 while keeping a Buy rating. The firm’s revised price target offers a further 25.9% upside from the current levels. According to the analyst, the most significant development during the quarter was the announcement of a five-year contract renewal with T-Mobile (TMUS). The analyst said that the delay in renewing this deal had been a major concern for investors. This renewal supports confidence in the company’s ongoing business relationships.

Amdocs Limited (NASDAQ:DOX) provides services and software to entertainment, communications, media, and other service providers worldwide. The company develops, implements, designs, supports, markets, and operates an open and modular cloud offering. It also offers CES25, Amdocs Monetization Suite, and GenAI agents.

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