4. VanceInfo Technologies (VIT) is a China-based information technology solutions provider and a leading offshore software development company. It operates through three business units: R&D Outsourcing Services, IT Services and other solutions and services, including business process outsourcing.
Of the 14 analysts covering the stock, 71% recommend a buy and 21% rate it a hold. Analysts have an average 12-month price target of $14.77 for the stock, about 48.4% higher than the current price, according to a Bloomberg consensus.
For the third quarter of 2011, VIT reported net revenue of $70.3 million, up 25.9% from $59.9 million in the same quarter the prior year. Gross profit surged 18.2% to $24 million from $20.3 million in the year-ago period. For the quarter, net income stood at $3.2 million, or 7 cents per share.For the fourth quarter, the company estimates net revenue of $84 million, an increase of 41% from the corresponding period in 2010. Non-GAAP diluted EPS is pegged between 19 cents and 21 cents for the fourth quarter, based on 44.2 million total ADS equivalent average shares outstanding. With customers like Tata Consultancy Services, Wipro, Infosys and HCL Technologies, VIT is trying to outstrip Indian outsourcers with its expertise. The company has announced plans to set up its Australia-New Zealand headquarters in Melbourne, aiming at creating 100 new local jobs by the end of 2012.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV