Genpact (NYSE: G) shares are soaring 5.08% in pre-market trading on Friday, following the release of strong second-quarter financial results and a series of analyst upgrades. The global professional services firm has impressed investors with its performance, beating earnings expectations and receiving positive feedback from Wall Street.

Genpact reported adjusted earnings of 88 cents per share for the quarter ended June 30, surpassing the mean expectation of 86 cents from ten analysts. This represents a significant improvement from the 72 cents per share reported in the same quarter last year. Revenue also rose by 6.6% to $1.25 billion, exceeding analysts' expectations of $1.23 billion. The company's net income for the quarter reached $132.72 million.

Following the earnings release, several analysts have raised their price targets for Genpact. JP Morgan increased its target price to $55 from $49, while Needham raised its target to $53 from $50, maintaining a Buy rating. Needham analyst Mayank Tandon noted the company's strong performance as the reason for the upgrade. The current average analyst rating on Genpact shares is "buy," with Wall Street's median 12-month price target set at $50.00, approximately 16.6% above its last closing price. These positive analyst actions have likely contributed to the stock's pre-market surge, as investors react to the improved outlook for the company.