How The ExlService (EXLS) Story Is Shifting With New Targets Buybacks And Cloud Moves

Simply Wall St

Thu, February 26, 2026 at 5:17 PM GMT+9 3 min read

In this article:

•                                       StockStory Top Pick 
  

  EXLS

  -0.28%

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The latest update on ExlService Holdings focuses on a trimmed price target, with some analysts moving from US$52 to US$51 while the modelled fair value stays at US$52.14. That small shift reflects a desire for a bit more valuation cushion, even as many researchers remain generally constructive on IT services and the company’s setup into 2026. As you read on, you will see how this evolving narrative around price targets, sector sentiment, and recent company actions could matter for your own view on EXL.

Stay updated as the Fair Value for ExlService Holdings shifts by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on ExlService Holdings.

What Wall Street Has Been Saying

🐂 Bullish Takeaways

TD Cowen trimmed its ExlService price target slightly to US$51 from US$52 while keeping a Buy rating, which signals that the firm still sees upside potential relative to its own fair value work.

TD Cowen describes itself as "constructive" on IT services into 2026, pointing to expectations for gradual improvement in enterprise IT spend at a time when it views average sector valuations as discounted.

🐻 Bearish Takeaways

Baird cut its ExlService price target to US$35 from US$50 and kept a Neutral rating, which points to a more cautious stance on valuation following the latest Q4 update.

The gap between Baird’s US$35 target and TD Cowen’s US$51 target highlights a wide range of views on how execution and growth prospects should be reflected in the share price, something for you to keep in mind when comparing your own expectations with the Street.

Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there’s more to the story. Head to the Simply Wall St Community to discover more perspectives!

NasdaqGS:EXLS 1-Year Stock Price Chart

We’ve flagged 1 risk for ExlService Holdings. See which could impact your investment.

How This Changes the Fair Value For ExlService Holdings

Fair value remains at US$52.14 with no change to the core valuation output.

Revenue growth assumption is effectively unchanged at about 12.47%.

Net profit margin input remains around 12.26% with no material adjustment.

Future P/E multiple moves slightly from 26.97x to about 26.80x.

Discount rate adjusts slightly from 7.30% to about 7.32%.

Never Miss an Update: Follow The Narrative

Narratives connect a company’s business story to a financial forecast and fair value, so you can see how the numbers line up with the bigger picture. They refresh as new data, research, and company updates come through.

Story Continues  

Head over to the Simply Wall St Community and follow the Narrative on ExlService Holdings to stay up to date on:

How accelerated AI adoption, data platforms, and expansion into healthcare and international markets are shaping ExlService’s revenue mix and growth profile.

What analysts are assuming for future revenue, earnings, margins, and P/E by 2028, and how those assumptions tie back to the business model.

The key risks around AI automation potentially reducing outsourcing demand, rising talent costs, tighter data regulations, intense competition, and heavy exposure to insurance and healthcare.

_ This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned._

Companies discussed in this article include EXLS.

Have feedback on this article? Concerned about the content? Get in touch with us directly._ Alternatively, email editorial-team@simplywallst.com_

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