3 Cloud Services Major, Analytics Specialist and Experience Engineering Stocks With a Strong Future Roadmap: Coforge, Latent View Analytics and Zensar Technologies

Coforge, Latent View Analytics and Zensar Technologies: ROE of 11.3% to 16.4% and FY22 to FY26 revenue CAGR of 7.8% to 27.6%. Prices as of 20 Oct 2026.

Updated: 21 Oct 2026 • 4:06 pm

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3 Cloud Services Major, Analytics Specialist and Experience Engineering Stocks With a Strong Future Roadmap: Coforge, Latent View Analytics and Zensar Technologies

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The three digital services and analytics stocks to watch are Coforge, Latent View Analytics and Zensar Technologies. Their return on equity ranges from 11.3% to 16.4%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.8% to 27.6%. Zensar Technologies has the highest return on equity at 16.4%, while Latent View Analytics has the fastest revenue growth at 27.6% a year. Prices are based on the 20 October 2026 close, and this article is educational, not investment advice.

Digital services and analytics stocks give investors exposure to the technology work that global businesses outsource to Indian providers. Coforge, Latent View Analytics and Zensar Technologies cover a digital engineering major, a data analytics specialist and an experience and cloud services firm.

This list covers three digital services and analytics stocks with complete current figures: Coforge, Latent View Analytics and Zensar Technologies. Every figure comes from the latest reported financials and the 20 October 2026 market close. Companies without complete current figures were left out.

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Table of Contents

What Are Digital Services and Analytics Stocks?

Digital services and analytics stocks are listed technology companies that offer cloud, engineering and data services to clients abroad. Their results depend on deal wins, client spending and the share of recurring revenue.

Digital Services and Analytics Stocks at a Glance

Company	CMP (Rs)	Market Cap (Rs Cr)	P/E	Industry P/E	ROE (%)	D/E
Coforge	1,925	85,024	44.3	17.5	16.3	0.08
Latent View Analytics	239.73	4,968	25.0	17.5	11.3	0.02
Zensar Technologies	513.15	11,686	15.1	17.5	16.4	0.02

On valuation, Zensar Technologies trades at a P/E below the industry P/E, while Coforge and Latent View Analytics trade above it, which reflects the growth the market already expects. Readers comparing digital services and analytics stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.

Why Do Digital Services and Analytics Stocks Have a Strong Roadmap in India?

Digital services and analytics stocks have a strong roadmap in India because businesses worldwide are investing in cloud, data and artificial intelligence and are using Indian partners for scale.

Data and AI spending. Companies are investing to use data in decisions.
Cloud adoption. Systems and applications are moving to the cloud.
Deal momentum. Large multi-year contracts give revenue visibility.

Why Coforge Features Among These Digital Services and Analytics Stocks

Among the digital services and analytics stocks on this list, Coforge is a global IT services company that offers digital engineering, cloud, data and application services to clients in travel, banking, insurance and other industries.

In the June 2026 quarter, revenue grew 49.2% year on year to Rs 5,554 crore, while net profit rose 49.2% to Rs 532 crore. Revenue rose from Rs 6,484 crore in FY22 to Rs 16,476 crore in FY26, a compound annual growth rate of 26.3%.

Net profit grew from Rs 715 crore in FY22 to Rs 1,674 crore in FY26, which works out to a compound annual growth rate of 23.7%. The company has a return on equity of 16.3%, a debt to equity ratio of 0.08 and a market capitalisation of Rs 85,024 crore. The stock trades at a P/E of 44.3, above the industry P/E of 17.5.

Roadmap: The company focuses on large, long-running deals in sectors where it has deep domain strength. A rising share of cloud and data work and the acquisition of a leading digital services business have strengthened its pipeline.

What to watch: Check the order intake and the pace of large deal conversion.

Why Latent View Analytics Features Among These Digital Services and Analytics Stocks

Among the cloud engineering shares on this list, Latent View Analytics, headquartered in Chennai, provides data analytics, engineering and artificial intelligence services to technology, consumer and financial clients worldwide.

The company has a return on equity of 11.3%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 4,968 crore. The stock trades at a P/E of 25.0, above the industry P/E of 17.5.

Revenue rose from Rs 429 crore in FY22 to Rs 1,136 crore in FY26, a compound annual growth rate of 27.6%. Net profit grew from Rs 130 crore in FY22 to Rs 202 crore in FY26, which works out to a compound annual growth rate of 11.8%. In the June 2026 quarter, revenue grew 18.8% year on year to Rs 308 crore.

Roadmap: Enterprises are investing in analytics and artificial intelligence, which feeds demand for data services. The company is widening its client list and scaling large accounts with a consulting and engineering model.

What to watch: Follow client additions and the growth of large accounts.

Why Zensar Technologies Features Among These Digital Services and Analytics Stocks

Among the three companies on this list, Zensar Technologies, an RPG group company, offers digital engineering, cloud and experience services to clients across financial services, retail and manufacturing.

Revenue rose from Rs 4,382 crore in FY22 to Rs 5,921 crore in FY26, a compound annual growth rate of 7.8%. Net profit grew from Rs 422 crore in FY22 to Rs 775 crore in FY26, which works out to a compound annual growth rate of 16.4%.

In the June 2026 quarter, revenue grew 8.6% year on year to Rs 1,566 crore, while net profit rose 1.0% to Rs 184 crore. The company has a return on equity of 16.4%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 11,686 crore. The stock trades at a P/E of 15.1, below the industry P/E of 17.5.

Roadmap: Strong deal wins in cloud and data work, a focus on fewer, larger clients and the use of artificial intelligence in delivery support its path. Cost discipline has allowed margins to improve over the years.

What to watch: Follow client concentration and growth in large accounts.

Coforge vs Latent View Analytics vs Zensar Technologies on Key Financials

The table below sets the three digital services and analytics stocks side by side on revenue, profit and margin, using reported figures.

Company	FY22 Revenue (Rs Cr)	FY26 Revenue (Rs Cr)	Revenue CAGR (FY22-FY26)	FY26 Net Profit (Rs Cr)	FY26 Net Margin
Coforge	6,484	16,476	26.3%	1,674	10.2%
Latent View Analytics	429	1,136	27.6%	202	17.8%
Zensar Technologies	4,382	5,921	7.8%	775	13.1%

Zensar Technologies posts the highest return on equity in this group at 16.4%. Coforge has the largest FY26 revenue at Rs 16,476 crore, and Latent View Analytics shows the fastest revenue growth with a 27.6% compound annual rate. A useful habit with digital services and analytics stocks is to check each new quarterly result against the capacity plans the company described earlier.

The June 2026 quarter, the latest reported, gives a fresh read on momentum:

Company	Q1 FY26 Revenue (Rs Cr)	Q1 FY27 Revenue (Rs Cr)	Year-on-Year Growth
Coforge	3,723	5,554	49.2%
Latent View Analytics	259	308	18.8%
Zensar Technologies	1,442	1,566	8.6%

Key Risks to Check Before Investing in Digital Services and Analytics Stocks

Every theme carries risks that deserve a check before any decision. For these digital services and analytics stocks, the main points are: Long-term cloud engineering shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.

Client budgets. Spending in the United States and Europe can change with conditions.
Currency moves. Export revenue is sensitive to the rupee and dollar.
Talent costs. Wage inflation and attrition can affect margins.

Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.

Use the Univest Stock Screener to filter digital services and analytics stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.

Final Thoughts on Digital Services and Analytics Stocks

Digital services and analytics stocks reward investors who follow deal pipelines and client mix. Coforge, Latent View Analytics and Zensar Technologies each offer a different way to participate in global technology spending. Based on the 20 October 2026 close, Coforge trades at Rs 1,925, Latent View Analytics at Rs 239.73 and Zensar Technologies at Rs 513.15. Valuation matters as much as growth, so compare each company's P/E with its industry P/E before adding any of these digital services and analytics stocks to a watchlist.

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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).

What are digital services and analytics stocks?

Ans. Digital services and analytics stocks are listed technology companies that offer cloud, engineering and data services to clients abroad. Their results depend on deal wins, client spending and the share of recurring revenue. This list looks at three of them, Coforge, Latent View Analytics and Zensar Technologies, using reported FY22 to FY26 financials and the 20 October 2026 closing prices.

Which digital services and analytics stocks are covered in this list?

Ans. This list covers Coforge, Latent View Analytics and Zensar Technologies. Based on the 20 October 2026 close, Coforge traded at Rs 1,925, Latent View Analytics at Rs 239.73 and Zensar Technologies at Rs 513.15. Their return on equity ranges from 11.3% to 16.4%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.8% to 27.6%.

Why do digital services and analytics stocks have a strong future roadmap in India?

Ans. Digital services and analytics stocks have a strong roadmap in India because businesses worldwide are investing in cloud, data and artificial intelligence and are using Indian partners for scale. The main drivers are as follows. Data and AI spending. Companies are investing to use data in decisions. Cloud adoption. Systems and applications are moving to the cloud. Deal momentum. Large multi-year contracts give revenue visibility. Together these factors give the companies on this list a visible path for growth over the coming years.

How has Coforge performed financially?

Ans. Revenue rose from Rs 6,484 crore in FY22 to Rs 16,476 crore in FY26, a compound annual growth rate of 26.3%. Net profit grew from Rs 715 crore in FY22 to Rs 1,674 crore in FY26, which works out to a compound annual growth rate of 23.7%. In the June 2026 quarter, revenue grew 49.2% year on year to Rs 5,554 crore, while net profit rose 49.2% to Rs 532 crore. The company has a return on equity of 16.3%, a debt to equity ratio of 0.08 and a market capitalisation of Rs 85,024 crore. The stock trades at a P/E of 44.3, above the industry P/E of 17.5. Looking ahead, the company focuses on large, long-running deals in sectors where it has deep domain strength. A rising share of cloud and data work and the acquisition of a leading digital services business have strengthened its pipeline.

How has Latent View Analytics performed financially?

Ans. Revenue rose from Rs 429 crore in FY22 to Rs 1,136 crore in FY26, a compound annual growth rate of 27.6%. Net profit grew from Rs 130 crore in FY22 to Rs 202 crore in FY26, which works out to a compound annual growth rate of 11.8%. In the June 2026 quarter, revenue grew 18.8% year on year to Rs 308 crore. The company has a return on equity of 11.3%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 4,968 crore. The stock trades at a P/E of 25.0, above the industry P/E of 17.5. Looking ahead, enterprises are investing in analytics and artificial intelligence, which feeds demand for data services. The company is widening its client list and scaling large accounts with a consulting and engineering model.

How has Zensar Technologies performed financially?

Ans. Revenue rose from Rs 4,382 crore in FY22 to Rs 5,921 crore in FY26, a compound annual growth rate of 7.8%. Net profit grew from Rs 422 crore in FY22 to Rs 775 crore in FY26, which works out to a compound annual growth rate of 16.4%. In the June 2026 quarter, revenue grew 8.6% year on year to Rs 1,566 crore, while net profit rose 1.0% to Rs 184 crore. The company has a return on equity of 16.4%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 11,686 crore. The stock trades at a P/E of 15.1, below the industry P/E of 17.5. Looking ahead, strong deal wins in cloud and data work, a focus on fewer, larger clients and the use of artificial intelligence in delivery support its path. Cost discipline has allowed margins to improve over the years.

What risks should investors check before buying digital services and analytics stocks?

Ans. Investors should check a few risks before buying digital services and analytics stocks. Client budgets. Spending in the United States and Europe can change with conditions. Currency moves. Export revenue is sensitive to the rupee and dollar. Talent costs. Wage inflation and attrition can affect margins. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.

Is this list of digital services and analytics stocks investment advice?

Ans. No. This article is educational and uses publicly available data as of the 20 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.