Analysts expect Cognizant to report Q1 2026 revenue of $5.41 billion and an adjusted EPS of $1.33, with the stock currently trading at $55.11 compared to a consensus price target of $83.50.
Investors are primarily focused on the sustainability of the company's 1.3x book-to-bill ratio and its ability to convert a record backlog of large deals into realized revenue growth.
This focus follows a strong 2025 performance where the firm signed 28 large deals, leveraging its "AI Builder" strategy to regain market share. Despite this momentum, recent analyst downgrades highlight concerns over sluggish discretionary spending in financial services and legal uncertainties surrounding the TriZetto unit.