Analyst Consensus ?
ConsensusHold49 ratings
Bullish2346.9%
Neutral2142.9%
Bearish510.2%
1 unmapped firm rating excluded from the percentages.
Cognizant Technology Solutions Corporation · CTSH · FY2026 Q2 · Calendar Q3 2026
Cognizant pairs AI expansion with revised revenue guidance
The supplied analysis supports a constructive but conditional view: resilient demand in financial services, AI adoption, large-deal bookings, and platform offerings can support growth, but the thesis depends on converting the pipeline, sustaining AI-led productivity, and containing delivery, labor, and model costs.
Reported Before market openNASDAQTechnology
$26.43B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.37
Consensus $1.38
EPS surprise
-0.7%
Reported versus consensus
Reported revenue
$5.48B
Consensus $5.48B
Revenue surprise
+0.0%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+11.3%
Event window
SPY move
-1.5%
Same window
Abnormal move
+12.8%
Stock minus SPY
Volume
2.0×
Versus trailing sessions
Subsequent drift
+10.9%
Up to 20 sessions
CTSHSPY benchmark
Ask FN2 about CTSH FY2026 Q2
Transcript, numbers and history already loaded
Why did CTSH rise 11.3% after missing EPS estimates in FY2026 Q2?What changed in CTSH's guidance and outlook in FY2026 Q2?Give me the bull and bear case for CTSH after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Cognizant reported Q2 revenue growth and margin expansion, launched an AI delivery operating system, completed the Astreya acquisition, and emphasized more than 8,000 AI engagements and over 40% AI-assisted software development. Revenue guidance was revised to 4%-5.5% growth while EPS guidance was raised.
Guidance delta
Full-year revenue guidance was revised to 4%-5.5% growth, while EPS guidance was raised to $5.70-$5.82. The supplied analysis characterizes overall guidance sentiment as lowered.
Key takeaways
- Q2 revenue grew 4.1% year over year, with operating-margin expansion to 16% and bookings up 5% on a trailing-twelve-month basis.
- Management made AI delivery, outcome-based contracts, and platform-led offerings central to its growth strategy, while financial services showed double-digit growth.
- The Astreya acquisition adds managed-services capabilities; execution risks include large-deal timing, AI cost economics, labor costs, and cautious client spending.
Management priorities
- Scale the Cognizant AI delivery operating system and sovereign physical AI platform.
- Expand the Frontier-certified workforce and deepen partnerships across cloud, AI, data, and security.
- Integrate Astreya, pursue strategic acquisitions, and balance investment with Project LEAP savings and capital returns.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$59.14Current
$44Low
$73.35Average
$107High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 23, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| TD Cowen | Hold | Hold | Maintain | Sep 18, 2026 |
| Deutsche Bank | Buy | Buy | Maintain | Sep 18, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Jul 30, 2026 |
| Susquehanna | Positive | Positive | Maintain | Jul 30, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Jul 30, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Jul 30, 2026 |
| Guggenheim | Buy | Buy | Maintain | Jul 27, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Jul 24, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 24, 2026 |
| Baird | Neutral | Neutral | Maintain | Jul 10, 2026 |
| Wedbush | Outperform | Neutral | Upgrade | Jun 8, 2026 |
| Mizuho | Neutral | Neutral | Maintain | May 6, 2026 |
| UBS | Neutral | Neutral | Maintain | Apr 13, 2026 |
| William Blair | Outperform | Market Perform | Upgrade | Nov 21, 2025 |
| TD Securities | Hold | Hold | Maintain | May 1, 2025 |
| Needham | Hold | Hold | Maintain | May 1, 2025 |
| BMO Capital | Market Perform | Market Perform | Maintain | May 1, 2025 |
| Barclays | Overweight | Overweight | Maintain | Apr 25, 2025 |
| Goldman Sachs | Neutral | Neutral | Maintain | Sep 12, 2024 |
| B of A Securities | Neutral | Underperform | Upgrade | Aug 7, 2024 |
| Evercore ISI Group | In Line | In Line | Maintain | Mar 26, 2024 |
| Jefferies | Buy | Hold | Upgrade | Jan 11, 2024 |
| Societe Generale | Sell | Hold | Downgrade | Jan 5, 2024 |
| Wolfe Research | Peer Perform | Underperform | Upgrade | Jan 4, 2024 |
| HSBC | Buy | Hold | Upgrade | May 5, 2023 |
| MoffettNathanson | Underperform | Market Perform | Downgrade | Jan 19, 2023 |
| Cowen & Co. | Market Perform | Outperform | Downgrade | Jul 28, 2022 |
| Berenberg | Hold | Hold | Maintain | Feb 2, 2021 |
| Credit Suisse | Outperform | Outperform | Maintain | Dec 29, 2020 |
| Atlantic Equities | Underweight | Underweight | Maintain | Feb 19, 2020 |
| Ambit Capital | Sell | Sell | Maintain | Dec 23, 2019 |
| Edward Jones | Buy | Hold | Upgrade | Nov 11, 2019 |
| Argus Research | Hold | Buy | Downgrade | May 10, 2019 |
| Argus | Hold | Buy | Downgrade | May 10, 2019 |
| Keybanc | Overweight | Downgrade | May 3, 2019 | |
| Bernstein | Outperform | Market Perform | Upgrade | Jan 25, 2019 |
| Bank of America | Underperform | Underperform | Maintain | Nov 2, 2018 |
| Nomura | Neutral | Neutral | Maintain | Feb 8, 2018 |
| Pivotal Research | Buy | Buy | Maintain | Nov 8, 2017 |
| Loop Capital | Buy | Hold | Upgrade | Aug 4, 2017 |
| SunTrust Robinson Humphrey | Buy | Hold | Upgrade | Apr 13, 2017 |
| CLSA | Buy | Buy | Maintain | Sep 14, 2016 |
| Pacific Crest | Overweight | Overweight | Maintain | Jul 12, 2016 |
| Sterne Agee CRT | Neutral | Neutral | Maintain | Dec 17, 2015 |
| Oppenheimer | Outperform | Outperform | Maintain | May 4, 2015 |
| Tigress Financial | Buy | Buy | Maintain | Oct 17, 2013 |
| Evercore Partners | Overweight | Overweight | Maintain | Apr 15, 2013 |
| PiperJaffray | Overweight | Overweight | Maintain | Nov 23, 2012 |
| Piper Sandler | Overweight | Overweight | Maintain | Nov 23, 2012 |
| BGB Securities | Hold | Hold | Maintain | May 7, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $59.14. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Mizuho Securities | Dan Dolev | $64 | $55.78 | +8.2% | Aug 6, 2026 |
| Susquehanna | Analyst unavailable | $82 | $52.4 | +38.7% | Jul 30, 2026 |
| Robert W. Baird | Analyst unavailable | $68 | $52.39 | +15.0% | Jul 30, 2026 |
| Morgan Stanley | James Faucette | $51 | $52.24 | -13.8% | Jul 30, 2026 |
| Guggenheim | Analyst unavailable | $65 | $45.45 | +9.9% | Jul 27, 2026 |
| RBC Capital | Analyst unavailable | $55 | $43.01 | -7.0% | Jul 24, 2026 |
| RBC Capital | Daniel Perlin | $47 | $43.01 | -20.5% | Jul 24, 2026 |
| Deutsche Bank | Analyst unavailable | $55 | $43.4 | -7.0% | Jul 10, 2026 |
| Robert W. Baird | Analyst unavailable | $55 | $43.4 | -7.0% | Jul 10, 2026 |
| Wells Fargo | Analyst unavailable | $61 | $43.4 | +3.1% | Jul 10, 2026 |
| Morgan Stanley | Analyst unavailable | $44 | $41.83 | -25.6% | Jun 23, 2026 |
| Berenberg Bank | Analyst unavailable | $59 | $51.05 | -0.2% | Jun 17, 2026 |
| Wedbush | Steven Wahrhaftig | $70 | $53.21 | +18.4% | Jun 8, 2026 |
| Truist Financial | Arvind Ramnani | $66 | $55.76 | +11.6% | Jun 1, 2026 |
| Mizuho Securities | Analyst unavailable | $68 | $51.87 | +15.0% | May 6, 2026 |
| Susquehanna | Analyst unavailable | $88 | $52.9 | +48.8% | May 1, 2026 |
| Morgan Stanley | James Faucette | $63 | $52.42 | +6.5% | Apr 30, 2026 |
| Wedbush | Analyst unavailable | $56 | $54.7 | -5.3% | Apr 30, 2026 |
| Goldman Sachs | Analyst unavailable | $75 | $54.7 | +26.8% | Apr 29, 2026 |
| Morgan Stanley | Analyst unavailable | $70 | $55.08 | +18.4% | Apr 27, 2026 |
| Robert W. Baird | Analyst unavailable | $72 | $57.44 | +21.7% | Apr 10, 2026 |
| Wedbush | Analyst unavailable | $61 | $59.2 | +3.1% | Apr 9, 2026 |
| UBS | Analyst unavailable | $71 | $61.02 | +20.1% | Mar 13, 2026 |
| BMO Capital | Analyst unavailable | $83 | $69.56 | +40.3% | Feb 12, 2026 |
| Mizuho Securities | Dan Dolev | $87 | $77.08 | +47.1% | Feb 9, 2026 |
| Morgan Stanley | Analyst unavailable | $82 | $76.71 | +38.7% | Feb 5, 2026 |
| BMO Capital | Analyst unavailable | $96 | $83.3 | +62.3% | Jan 29, 2026 |
| Guggenheim | Jonathan Lee | $100 | $84.65 | +69.1% | Jan 28, 2026 |
| Deutsche Bank | Analyst unavailable | $100 | $84.18 | +69.1% | Jan 26, 2026 |
| Susquehanna | James Friedman | $98 | $84.54 | +65.7% | Jan 23, 2026 |
| Berenberg Bank | Meha Pau | $107 | $84.03 | +80.9% | Jan 22, 2026 |
| Wells Fargo | Analyst unavailable | $98 | $84.47 | +65.7% | Jan 14, 2026 |
| UBS | Analyst unavailable | $82 | $80.72 | +38.7% | Dec 8, 2025 |
| UBS | Analyst unavailable | $78 | $71.82 | +31.9% | Oct 30, 2025 |
| Mizuho Securities | Dan Dolev | $85 | $71.69 | +43.7% | Oct 30, 2025 |
| Goldman Sachs | James Schneider | $84 | $67.82 | +42.0% | Oct 29, 2025 |
| Wells Fargo | Jason Kupferberg | $82 | $68.77 | +38.7% | Oct 21, 2025 |
| Guggenheim | Jonathan Lee | $85 | $66.7 | +43.7% | Oct 21, 2025 |
| Barclays | Ramsey El-Assal | $95 | $80.06 | +60.6% | Dec 17, 2024 |
| Mizuho Securities | Dan Dolev | $83 | $74.98 | +40.3% | Oct 29, 2024 |
| Deutsche Bank | Bryan Keane | $80 | $76.87 | +35.3% | Oct 22, 2024 |
| Goldman Sachs | James Schneider | $76 | $76.3 | +28.5% | Sep 11, 2024 |
| RBC Capital | Daniel Perlin | $82 | $77.27 | +38.7% | Aug 28, 2024 |
| Bank of America Securities | Jason Kupferberg | $75 | $72.65 | +26.8% | Aug 7, 2024 |
| BMO Capital | Keith Bachman | $85 | $75.68 | +43.7% | Aug 1, 2024 |
| Goldman Sachs | James Schneider | $72 | $68.34 | +21.7% | Jun 24, 2024 |
| Deutsche Bank | Bryan Keane | $70 | $67.25 | +18.4% | Jun 10, 2024 |
| BMO Capital | Keith Bachman | $77 | $65.68 | +30.2% | Apr 30, 2024 |
| Morgan Stanley | James Faucette | $65 | $69.26 | +9.9% | Apr 12, 2024 |
| Jefferies | Surinder Thind | $85 | $74.88 | +43.7% | Jan 11, 2024 |
| Susquehanna | Analyst unavailable | $91 | $69.04 | +53.9% | Feb 3, 2023 |
| Morgan Stanley | Analyst unavailable | $60 | $70.66 | +1.5% | Feb 3, 2023 |
| UBS | Rayna Kumar | $68 | $64.06 | +15.0% | Jan 15, 2023 |
| BMO Capital | Analyst unavailable | $71 | $65.1 | +20.1% | Jan 13, 2023 |
| J.P. Morgan | Analyst unavailable | $62 | $58.23 | +4.8% | Dec 15, 2022 |
| Barclays | Ramsey El-Assal | $45 | $52.63 | -23.9% | Nov 6, 2022 |
| BMO Capital | Keith Bachman | $65 | $51.96 | +9.9% | Nov 3, 2022 |
| RBC Capital | Daniel Perlin | $66 | $51.96 | +11.6% | Nov 3, 2022 |
| BMO Capital | Keith Bachman | $65 | $60.26 | +9.9% | Nov 3, 2022 |
| RBC Capital | Daniel Perlin | $66 | $60.26 | +11.6% | Nov 3, 2022 |
| Robert W. Baird | David Koning | $66 | $60.26 | +11.6% | Nov 3, 2022 |
| UBS | Rayna Kumar | $62 | $51.96 | +4.8% | Nov 3, 2022 |
| HSBC | Yogesh Aggarwal | $79 | $68.95 | +33.6% | Aug 17, 2022 |
| RBC Capital | Daniel Perlin | $88 | $67.07 | +48.8% | Jul 28, 2022 |
| Robert W. Baird | David Koning | $84 | $69.44 | +42.0% | Jul 27, 2022 |
| Morgan Stanley | James Faucette | $75 | $69.21 | +26.8% | Jul 22, 2022 |
| Morgan Stanley | James Faucette | $90 | $84.36 | +52.2% | May 5, 2022 |
| BMO Capital | Keith Bachman | $100 | $89.17 | +69.1% | Feb 8, 2022 |
| Morgan Stanley | James Faucette | $95 | $86.94 | +60.6% | Jan 13, 2022 |
| Goldman Sachs | Brian Essex | $104 | $86.42 | +75.9% | Jan 9, 2022 |
| Susquehanna | James Friedman | $100 | $81.74 | +69.1% | Nov 19, 2021 |
| UBS | Diviya Nagarajan | $58.5 | $72.89 | -1.1% | Aug 4, 2021 |
| Societe Generale | Richard Nguyen | $92 | $73.25 | +55.6% | Jul 29, 2021 |
| Nomura | Rishit Parikh | $80 | $73.25 | +35.3% | Jul 29, 2021 |
| HSBC | Yogesh Aggarwal | $90 | $67.49 | +52.2% | Jul 22, 2021 |
Track every rating change on CTSH the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationCognizant Technology Solutions Corporation functions as a global professional services firm, delivering a comprehensive suite of consulting, technology, and outsourcing solutions across North America, Europe, and other international markets. Its operations are structured into four primary divisions: Financial Services, Healthcare, Products and Resources, and Communications, Media and Technology. Within the Financial Services sector, Cognizant provides advanced services such as enhancing customer experiences, implementing robotic process automation (RPA), and leveraging analytics and artificial intelligence (AI) to address needs in areas like digital lending, fraud prevention, and modern payment systems. For its Healthcare clients, the company focuses on navigating industry shifts toward consumer-centric models, outcome-based agreements, and digital health initiatives, striving to deliver an integrated, seamless, and patient-focused omnichannel experience.…
Historical context
All CTSH earningsTechnology peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| ADBE Adobe Inc. | FY2026 Q3 · Calendar Q3 2026 | +0.8% | +1.4% | Adobe raises FY26 outlook as AI strategy broadens |
| ORCL Oracle Corporation | FY2027 Q1 · Calendar Q3 2026 | +10.3% | -1.7% | Oracle raises FY27 outlook as AI demand accelerates cloud growth |
| SAIL SailPoint, Inc. | FY2027 Q2 · Calendar Q3 2026 | +13.8% | -1.2% | SailPoint pairs 25% ARR growth with accelerating AI-driven adoption |
| CIEN Ciena Corporation | FY2026 Q3 · Calendar Q3 2026 | +22.0% | -10.4% | Ciena raises outlook as AI networking demand lifts backlog |
| DOCU DocuSign, Inc. | FY2027 Q2 · Calendar Q3 2026 | +6.4% | +3.7% | DocuSign Q2 FY27: IAM momentum supports a raised outlook |
| IOT Samsara Inc. | FY2027 Q2 · Calendar Q3 2026 | +25.0% | +3.7% | Samsara: AI adoption expands as FY27 guidance holds |
Latest beats and misses
Who reports nextBeat on EPS
- AZOFY2026 Q4 · September 22, 2026+3.6% EPS+3.3% move
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
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Sources
- Earnings call transcript and parsed analysis · 2026-07-29T16:06:58.544600+00:00
- FN2 earnings calendar · 2026-09-03T01:23:14.877038+00:00
- Polygon adjusted daily market bars · 2026-09-23T21:10:53.009324+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-23T21:10:53.005168+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-23. For educational purposes only; not investment advice.