ExlService Holdings stock gains on strong Q2 2026 results and raised guidance
Published on 09/17/2026 at 15:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
ExlService Holdings stock (ISIN US3020811044) is trading around USD 35.88 on Nasdaq as of September 17, 2026, after the company reported a strong second quarter 2026 and raised its full-year guidance following the announced acquisition of AI data specialist iMerit.
Q2 2026 results show double-digit growth
According to StockStory, EXL reported second quarter 2026 revenues of USD 594.8 million, up 15.6 percent year over year, and ahead of analysts' expectations by 3.5 percent.
An earnings-call transcript summarized by Benzinga puts Q2 2026 revenue at USD 595 million, up 16 percent compared with the same quarter a year earlier, while adjusted EPS reached USD 0.59, a 22 percent increase year over year.
The combination of mid-teens revenue growth and more than 20 percent EPS growth underlines that margins improved as the business scaled, which is a key positive for investors comparing EXL with other data and business process services peers.
Guidance raised and iMerit acquisition as growth driver
In its Q2 2026 commentary, ExlService raised its full-year 2026 revenue guidance to a range of USD 2.39 billion to USD 2.415 billion, up from a prior range of USD 2.30 billion to USD 2.33 billion, according to Benzinga.
The same transcript notes that the company now expects adjusted EPS for 2026 in a range of USD 2.25 to USD 2.29, compared with its earlier guidance, signaling confidence in sustained profitability alongside the higher top-line outlook.
ExlService also announced the planned acquisition of iMerit, an AI data services provider, which is expected to contribute around USD 28 million to USD 32 million of revenue over the remaining five months of 2026, as highlighted by Benzinga.
For investors, the guidance raise of roughly USD 90 million on the revenue range, combined with the incremental USD 28 million to USD 32 million from iMerit, underscores that management sees AI and data analytics demand as strong enough to support mid-teens growth in 2026.
Stock reaction and valuation context
Market data from Nasdaq via a quote overview on Yahoo Finance show ExlService Holdings stock at USD 35.88 on September 17, 2026, with an intraday change of about minus 1.13 percent at around 9:31 a.m. Eastern Time.
The same data place EXL's market capitalization at approximately USD 5.44 billion as of mid-September 2026, giving investors a sense of the company's size in the information technology services segment, as also referenced in a broader industry overview on Yahoo Finance.
StockStory notes that following the Q2 2026 earnings report and guidance raise, EXL shares were up about 17.4 percent since reporting and trading near USD 35.86, a move that indicates investors welcomed both the strong quarter and the AI-focused expansion strategy.StockStory
Analyst sentiment and competitive positioning
Analyst coverage compiled by MarketBeat shows that six investment analysts currently rate ExlService Holdings stock as Buy and one as Hold, resulting in a consensus rating described as Moderate Buy.
The same MarketBeat overview cites an average analyst price target of USD 44.50 for EXL, which sits clearly above the mid-USD 30s trading level and reflects expectations that the company can continue to grow revenue and earnings in the data analytics and digital operations market.
In a broader comparison across enterprise AI and data engineering providers, Zacks highlights ExlService as one of the relevant peers to Innodata and Cognizant, underlining EXL's positioning in enterprise AI, data engineering, analytics and digital transformation.
Risks and what to watch next
Looking ahead, one key factor for shareholders will be how smoothly the integration of iMerit proceeds and whether the expected USD 28 million to USD 32 million in 2026 revenue from the deal translates into sustained margin improvements beyond this year, as outlined in the earnings call summary on Benzinga.
Another risk highlighted indirectly by sector comparisons from Zacks is that enterprise AI and data services stocks can be volatile when growth expectations or contract pipelines disappoint, meaning EXL will need to keep delivering on its raised 2026 guidance to support the current valuation.
ExlService Holdings stock price snapshot
Per Nasdaq pricing data presented by Yahoo Finance, ExlService Holdings stock most recently traded at USD 35.88 on September 17, 2026, down about 1.13 percent intraday in early trading, with a market capitalization near USD 5.44 billion.
Key data on ExlService Holdings stock
- Company: ExlService Holdings, Inc.
- ISIN: US3020811044
- Ticker: EXLS
- Trading venue: Nasdaq
- Price (as of September 17, 2026, 09:31): 35.88 USD
- Market capitalization: 5.44 billion USD (as of September 17, 2026)
- Sector / Industry: Information technology services / data analytics and digital operations
- Index membership: S&P 500
