JP Morgan issued an ‘overweight’ call on the stock and urged investors to ‘buy this dip’ Last week, Persistent Systems lost over 7 percent, extending its year-to-date decline to more than 14 percent. The brokerage advises buying the dip, calling it a high-quality growth compounder. It expects a 21 percent revenue and 29 percent PAT CAGR over FY25-27, supported by record-high deals driving high-teens revenue growth in FY26. Persistent has set a $5 billion revenue target by FY31, implying a strong 26 percent CAGr over FY27-31. The mid-tier reported a 30.4 percent year-on-year rise in net profit to Rs 373 crore for Q3 FY24, driven by its AI-led, platform-driven services strategy, despite the seasonally weak quarter for IT. Sequentially, net profit rose 14.8 percent. Consolidated revenue for the quarter grew 22.6 percent YoY to Rs 3,062.28 crore, with a 5.7 percent increase sequentially. The total headcount of the company was 23,941 as of Q3.
