Korn Ferry jumps after Q3 profit beats expectations

Shares of consulting firm Korn Ferry KFY.N jump as much as 11.6%; last up 9.2% at $68.29

KFY posts Q3 profit above Wall Street expectations, after meeting estimates in the prior quarter

CEO Gary Burnison says "tomorrow's macro environment will be encircled by a labor supply and demand imbalance" requiring companies to reskill their workforce, presenting tremendous opportunity for KFY

Brokerage William Blair says while it acknowledges some hesitation from investors given an uncertain macro, the market continues to underappreciate KFY's potential for earnings and valuation upside

Four of five brokerages rate the stock "buy" or higher and one "hold"; median PT is $82.50 — LSEG data

KFY stock up 1.3% YTD