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IT - Software
from 544 today
Hexaware's current CEO has resigned, and Mr Vivek Jetley will take over as CEO. Valuations are at ~20x CY27E consensus EPS, and the recommendation is maintained at ADD.
We reiterate our BUY rating with a TP of INR720 following key takeaways from Hexaware's Investor Day highlighting its AI strategy and Zero License framework.
We attended Hexaware's Investor Day, where the company highlighted its AI strategy including the Zero Friction Enterprise framework and AI for Business. We reiterate our BUY rating with a target price of INR720 based on 25x CY27E EPS.
Hexaware showcased its net-new AI-led services and AI for business solutions that could expand its addressable TAM. We continue to value Hexaware at 20x CY27E EPS to arrive at a TP of INR 580 and retain HOLD.
We reiterate our BUY rating with a TP of INR720 as Hexaware appears well placed to exit the year on a stronger run rate, supported by delayed deal ramp-ups, healthy momentum in modernization programs, and improving AI-led engagements.
Hexaware posted solid Q2CY26 results with revenue and margins beating or meeting estimates, though it trimmed its CY26 growth guidance due to delayed deal ramp-ups in the Middle East and softness in the Travel vertical. We maintain 'BUY' with a revised TP of INR710 as we roll forward our valuation.
Hexaware reported in-line revenue growth, but a challenging macroeconomic environment and AI-led deflation led to a guidance cut. We downgrade the stock to HOLD with an unchanged target price of INR 580.
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