ExlService Holdings $EXLS Downtrend Channel Breakout and Resistance Break

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ExlService $EXLS stock did a downtrend channel breakout on October 31, 2022, as the stock powered through previous resistance at $179.81.

ExlService Holdings is a company that helps clients improve their revenue and profitability by designing and enabling agile business models. ExlService Holdings’ delivery model delivers superior business results by leveraging EXL’s proprietary Business EXLerator Framework, industry-leading analytics, digital transformation and domain expertise. EXL goes deeper in helping companies improve global operations, increase customer satisfaction, and manage risk and compliance. EXL serves companies in insurance, healthcare, banking and financial services, utilities, travel, transportation and logistics.

Dark Pool Buying In ExlService $EXLS

Dark pool trading occurred in ExlService $EXLS stock on September 30, 2022. We think the dark pool trades are buy orders because of how $EXLS stock rose following the prints hitting the tape.

Exlservice stock chart on October 31, 2022, with dark pool trades in orange with a table to the right with the text TIME SYMBOL MESSAGE PRICE 09/30/22 EXLS 427,778 DARK AVGPRC $63.0M 146.92% AvgVol $147.36 09/30/22 EXLS 147,164 DARK AVGPRC $21 .OM 50.54% AvgVol $147.36 09/30/22 EXLS 368,601 DARK BLOCK $54.0M 126.59% AvgVol $147.36 09/30/22 EXLS 132.236 DARK AVGPRC $19.0M 45.42% AvgVol $147.36 09/30/22 EXLS 169,896 DARK AVGPRC $25.0M 58.35% AvgVol $147.35 09/30/22 EXLS 131,480 DARK AVGPRC $19.0M 45.16% AvgVol $147.35 09/30/22 EXLS 125,254 DARK AVGPRC $18.0M 43.02% AvgVol $147.35 09/30/22 EXLS 280,873 DARK AVGPRC $41 .OM 96.46% AvgVol $147.35

The dark pool trading on September 30, 2022, may have had to do with $EXLS stock being removed from the S&P SmallCap 600 index and moving up to the S&P Midcap 400 index.

ExlService price target raised at Citi

On October 28, 2022, Citi analyst Ashwin Shirvaikar raised the company’s price target on ExlService to $145 from $140, leaving the stock with a Sell rating. A research note from Shirvaikar told investors that the company reported another quarter that beat and raised, but that tough compensation and potential downside remain risks.

EXL Reports 2022 Third Quarter Results

On October 27, 2022, ExlService Holdings (NASDAQ: EXLS), a leading data analytics and digital operations and solutions company, announced its financial results for the quarter ended September 30, 2022.

Rohit Kapoor, Vice Chairman and Chief Executive Officer, said, “EXL had a strong third quarter with revenue of $361.4 million, a 24.5% increase from the third quarter of 2021. Analytics continued to lead our growth with a 38.0% revenue increase from the third quarter of 2021. In addition, Digital Operations and Solutions revenue has significantly accelerated this year, growing by 14.8% as compared to the third quarter of 2021. Adjusted diluted earnings per share for the quarter was $1.54, an 18.5% increase year-over-year. We continue to see healthy demand across our client base for data-led solutions that enable better business decisions, embed intelligence directly into workflows and streamline operations. We are uniquely positioned to help our clients harness data, AI and the cloud to improve their profitability, boost revenue growth and enhance customer experience. Based on our outlook, we anticipate a strong finish to the year.”

Maurizio Nicolelli, Chief Financial Officer, said, “Our strong revenue growth in the quarter exceeded expectations, and drove our increase in EPS. As a result, we are increasing our revenue guidance for 2022 to be in the range of $1.39 billion to $1.40 billion, from $1.35 billion to $1.37 billion. This represents a 24% to 25% increase year-over-year on a reported basis and 21% to 22% increase year-over-year on an organic constant currency basis. We are also increasing our adjusted diluted earnings per share guidance for 2022 to $5.85 to $5.95, from $5.60 to $5.80, representing a 21% to 23% increase over 2021.”

ExlService Holdings $EXLS Stock Technical Analysis

ExlService $EXLS stock is in a technical strong uptrend. Long-term indicators suggest a continuation of the uptrend. Short-term indicators suggest that the stock is approaching overbought territory, so profit taking or even a trend reversal is possible. The stock has formed a downtrend channel breakout chart pattern.

Exls stock chart on October 31, 2022, forming a downtrend channel breakout with a positive MACD and positive money flow.
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