Cognizant shares fall after weak revenue forecast

Cognizant Technology Solutions

29/04/2026 13:45

** IT consulting firm Cognizant CTSH.O shares fall 5.9% to $51.5 premarket after co forecasts Q2 revenue below estimates, citing cautious IT spending by clients amid macroeconomic uncertainty

** Co expects Q2 rev between $5.45 bln and $5.52 bln, below analysts' estimate of $5.56 bln, per LSEG data; also trims its full-year rev forecast

** CTSH announces "Project Leap," an initiative to accelerate its AI shift and save $200 mln to $300 mln by 2026, but will incur restructuring charges of up to $320 mln

** 14 of 31 analysts rate CTSH "buy", and 17 "hold"; median PT is $83

** As of last close, stock has sunk about 33.6% YTD, compared to a 4.3% rise in the S&P 500 .SPX

 (Reporting by Ragini Mathur in Bengaluru)

 ((Ragini.Mathur@thomsonreuters.com;))