Current Market Position
As of December 5, 2025, Coforge Limited (ticker: COFORGE.NS on NSE) is trading at ₹1,977.90, positioned near its 52-week high of ₹2,005.36. The stock has demonstrated impressive growth momentum, trading above all major moving averages (5-day, 20-day, 50-day, 100-day, and 200-day EMAs) with a strong relative strength index (RSI) of 71.30, indicating sustained upward momentum and positive investor sentiment.
Coforge Share Price Trajectory (January 2023 – December 2025)
Historical Share Price Performance
Coforge has delivered exceptional returns over the past three years, with remarkable year-on-year growth:
- 2023 Performance: The stock surged 58.80%, starting the year at ₹790.24 and closing at ₹1,254.88, driven by recovery from pandemic-related lows and strong IT sector momentum.
- 2024 Performance: Continued strong growth of 56.04%, opening at ₹1,238.51 and closing at ₹1,932.59, reflecting robust business fundamentals and digital transformation demand across sectors.
- 2025 Performance (Year-to-Date): Modest growth of 2.71%, opening at ₹1,925.71 and currently trading at ₹1,977.90, with the stock consolidating near all-time highs.
The 52-week trading range spans from ₹1,194.01 (low) to ₹2,005.36 (high), representing significant volatility within a strong uptrend. The three-year cumulative return from January 2023 to December 2025 is approximately 150.3%, demonstrating substantial value creation for investors.
Recent Financial Performance & Growth Drivers
Coforge reported exceptional Q2 FY2025-26 results in October 2025, showcasing strong operational execution:
- Revenue Growth: Revenue reached ₹3,986 crore (USD 462 million), marking an impressive 8.1% quarter-on-quarter growth in INR terms and 31.7% year-on-year growth in INR terms.
- Profitability Expansion: Profit after tax (PAT) surged 86% year-on-year to ₹376 crore, with EBIT margin expanding 251 basis points sequentially to 14.0%, demonstrating improved operational efficiency.
- Order Book Strength: The executable order book for the next twelve months stands at USD 1.63 billion, up 26.7% year-over-year, indicating strong revenue visibility and business pipeline.
- Large Deal Momentum: The company signed 5 large deals in Q2 and has already closed 10 large deals in the first half of the fiscal year, supporting sustained growth trajectory.
- Employee Attrition: Maintained at 11.4%, among the lowest in the IT industry, reflecting strong organizational health and employee retention.
Analyst Price Targets – 12-Month Horizon
Analyst consensus for the next 12 months shows a relatively conservative outlook compared to longer-term projections. The consensus average 12-month price target is approximately ₹1,958 to ₹2,200, representing modest upside of 11-24% from current levels:
| Analyst Source | Target Price | High Estimate | Low Estimate |
|---|---|---|---|
| Investing.com (July 2025) | ₹1,953.69 | ₹2,500 | ₹1,260 |
| TradingView (October 2025) | ₹1,958.08 | ₹2,500 | ₹1,260 |
| WalletInvestor (December 2025) | ₹2,465.79 | — | — |
| Bonanza – Technical (December 2025) | ₹2,200 | — | — |
Bonanza’s technical analyst recommends buying at current levels (₹1,966) with a stop-loss at ₹1,850 and a target of ₹2,200, citing the stock’s breakout from a rounding bottom pattern supported by above-average volumes and strong bullish momentum.
Multi-Year Price Targets (2025-2030)
Coforge Year-End Share Price Targets (2025-2030) – Machine Learning Forecast
The most comprehensive forecast using machine learning analysis of historical price patterns projects significantly higher targets for the 2025-2030 period. This model assumes favorable macroeconomic conditions and sustained industry growth:
| Year | Initial Target | Mid-Year Target | Year-End Target | Implied Annual Growth |
|---|---|---|---|---|
| 2025 | ₹7,348.80 | ₹9,201.47 | ₹9,554.13 | — |
| 2026 | ₹9,533.00 | ₹11,434.57 | ₹12,421.27 | 30.0% |
| 2027 | ₹12,393.80 | ₹14,866.02 | ₹16,148.83 | 29.8% |
| 2028 | ₹16,113.12 | ₹19,327.23 | ₹20,995.00 | 29.8% |
| 2029 | ₹20,948.57 | ₹25,127.23 | ₹27,295.48 | 29.8% |
| 2030 | ₹27,235.12 | ₹32,667.77 | ₹35,486.71 | 29.8% |
Critical Note: These targets represent a significant divergence from current trading levels. The current price of ₹1,977.90 is substantially below the year-end 2025 target of ₹9,554, which raises important considerations about the feasibility of these projections in the near term.
Alternative Conservative Targets
More conservative analysis from other sources projects notably lower targets, particularly for the 2025-2026 period:
| Year | Range (Low-High) | Mid-Point |
|---|---|---|
| 2025 | ₹1,881.80 – ₹1,922.60 | ₹1,902 |
| 2026 | ₹2,146.90 – ₹2,885.62 | ₹2,516 |
| 2027 | ₹2,297.20 – ₹3,670.46 | ₹2,984 |
| 2028 | ₹4,490.58 – ₹4,557.94 | ₹4,524 |
| 2029 | ₹5,680.20 – ₹5,765.40 | ₹5,723 |
| 2030 | ₹2,481.00 – ₹7,710.62 | ₹5,096 |
These conservative targets suggest a more gradual appreciation with annual growth rates ranging from 15-35%, depending on the specific analyst and methodology.
Technical & Valuation Assessment
Positive Indicators:
- Trading above all major moving averages with strong bullish momentum
- Recent breakout from rounding bottom pattern on daily charts
- Volume significantly higher than 20-day average, indicating strong institutional participation
- Near 52-week highs, reflecting sustained investor confidence
- Strong fundamentals with 86% YoY profit growth and expanding margins
Valuation Concerns:
- Current P/E ratio of 60.97 is elevated compared to historical norms and IT sector peers
- Trading at approximately 100% premium to estimated intrinsic value of ₹989.69
- Stock classified as over-valued based on fundamental valuation metrics as of December 5, 2025
- Price-to-book ratio of approximately 14.00 indicates premium market valuation
Key Risk Factors & Considerations
- Valuation Premium: The stock is trading at a significant premium to intrinsic value, limiting upside potential in the near term unless earnings growth accelerates substantially.
- Market Sentiment Divergence: The vast difference between analyst 12-month targets (₹1,958-₹2,465) and long-term ML projections (₹9,554 by 2025 YE) suggests considerable uncertainty about the near-term trajectory.
- Macro Uncertainty: Global IT spending patterns, currency movements, and client budget cycles remain potential headwinds.
- Delivery Volume Trends: Recent decline in delivery volumes (27.43% below 5-day average) as of early December 2025 may indicate profit-booking or shift toward speculative trading.
Summary & Investment Perspective
Coforge has demonstrated strong operational execution with robust revenue growth, margin expansion, and order book strength supporting the bull case. However, the current elevated valuation and divergence between near-term and long-term price targets warrant caution.
For short-term investors (3-12 months), consensus analyst targets suggest potential upside to ₹1,950-₹2,500, representing 0-26% appreciation. For long-term investors (5+ years) willing to weather potential volatility, the company’s strong fundamentals, market position in the IT services sector, and growing demand for digital transformation services provide a favorable backdrop for value creation, provided the company continues to execute on growth targets and manage its cost structure effectively.
The stock appears best suited for investors with a medium-to-long-term investment horizon (3+ years) who can tolerate current valuation premiums in exchange for exposure to Coforge’s operational momentum and growth trajectory.