14 Best Consulting Stocks to Buy Now

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10. Exponent, Inc. (NASDAQ:EXPO)

Number of Hedge Fund Holders: 21

Exponent, Inc. (NASDAQ:EXPO), headquartered in Menlo Park, California, is a science and engineering consulting firm serving various industries worldwide. It operates through two segments: Engineering and Other Scientific, and Environmental and Health, offering services in areas like biomechanics, civil engineering, data sciences, and health sciences. Founded in 1967, Exponent, Inc. (NASDAQ:EXPO) provides solutions across approximately 90 technical disciplines. On April 29, Truist increased its price target for Exponent, Inc. (NASDAQ:EXPO) from $95 to $100 and maintained a Buy rating. The analyst was impressed with Exponent’s Q1 results, which showcased the company’s potential and the strengths of its reactive business. As a result, Truist is also raising its 2024 earnings per share (EPS) estimate for Exponent by 18 cents to $1.93.

In a latest development, Exponent, Inc. (NASDAQ:EXPO) has extended its commercial land lease with the State of Arizona for 15 years starting January 17, 2028, with increased annual payments. The extension, finalized on June 19, 2024, will see current payments of $1,009,000 rise to approximately $6,183,000 annually after January 16, 2028. The lease also includes rent adjustments in 2033 and 2038 based on the consumer price index. This extension underscores Exponent, Inc. (NASDAQ:EXPO) commitment to its Arizona facilities and reflects confidence in its long-term growth strategy.

The number of hedge funds in Insider Monkey’s database owning stakes in Exponent, Inc. (NASDAQ:EXPO) grew to 21 in Q1 2024, as compared to 19 in the preceding quarter. The consolidated value of these stakes is nearly $0.17 billion. Among these hedge funds, Terry Smith’s Fundsmith LLP was the company’s leading stakeholder in Q1.

TimesSquare Capital U.S. Small Cap Growth Strategy stated the following regarding Exponent, Inc. (NASDAQ:EXPO) in its first quarter 2024 investor letter:

“Many of our Industrial positions provide necessary business-to-business operational services, highly technical components, automation & efficiency improvements, or essential infrastructure services. Exponent, Inc. (NASDAQ:EXPO) is an engineering and scientific consulting company. The company fell short of estimates for the fourth quarter, causing a -7% selloff in its shares and we reduced this holding.”

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