Persistent Systems has reported revenues of $345.5 million for the latest quarter, reflecting a 5.1% increase quarter-on-quarter in constant currency terms, surpassing estimates. The company's EBIT margins remained stable at 14%, slightly exceeding the anticipated figure.

Total contract values (TCVs) reached $529 million, marking a 14% rise quarter-on-quarter and a 10% increase year-on-year. The management has reiterated its revenue goal for FY27 and plans to maintain utilization rates between 83% and 85%.

Sharekhan has maintained a "Buy" rating on the stock, with a price target of Rs 6,200, based on a valuation of 50 times the estimated earnings per share for September 2026. Currently, the stock trades at multiples of 57.4, 45, and 37.5 times its estimated earnings for FY25, FY26, and FY27, respectively.