CRA International (CRAI) Stock Forecast & Price Target

CRA International Inc. has demonstrated robust financial performance, with a reported revenue growth of 10.8% year-over-year in Q3/25, reaching $185.9 million, surpassing both internal estimates and consensus expectations. Notably, the company's legal and regulatory consulting practices achieved an impressive collective growth of 11.5% year-over-year, driven by significant contributions from key areas such as Intellectual Property, Energy, Finance, and Antitrust & Competition Economics. Furthermore, CRA International's consistent enhancement of its non-GAAP EBITDA margin, now at a record 13.2%, alongside a favorable environment for mergers and acquisitions and increasing legal activity, underscores a positive outlook for the company’s ongoing financial health and operational demand.

CRA International Inc. has experienced a slight decline in consultant headcount, down 1.0% year-over-year to 968, indicative of recent portfolio optimization efforts. Additionally, the ongoing high level of regulatory scrutiny in Europe presents potential challenges for the firm’s advisory services. Despite achieving a record non-GAAP EBITDA margin of 13.2% in FY/24, these factors contribute to a negative outlook on the company's future performance and growth prospects.