Perficient (NASDAQ: PRFT) received a Buy rating and a $31 price target from Barrington analyst Vincent Colicchio today. The company’s shares closed yesterday at $25.83.
Colicchio wrote:
“We are initiating coverage of PRFT shares with an OUTPERFORM investment rating and a 12-month price target of $31, which is based on 14.0x our 2019 adjusted EBITDA forecast of $80.7 million less net debt of $45.6 million. Company Description Perficient is a leading provider of digital transformation and traditional IT consulting services to Global 2000 enterprises throughout North America. Digital transformation and traditional IT consulting services comprised approximately 60% and 40% of TTM revenue, respectively. The company’s digital and legacy services both help clients improve productivity, grow and strengthen relationships with customers, suppliers and partners and reduce costs.”
According to TipRanks.com, Colicchio is a 3-star analyst with an average return of 4.3% and a 61.9% success rate. Colicchio covers the Technology sector, focusing on stocks such as Sykes Enterprises Inc, Exlservice Holdings, and Convergys Corp.
Perficient has an analyst consensus of Strong Buy, with a price target consensus of $32.33, which is a 25.2% upside from current levels. In a report issued on October 2, Maxim Group also initiated coverage with a Buy rating on the stock with a $34 price target.
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The company has a one-year high of $31.09 and a one-year low of $17.65. Currently, Perficient has an average volume of 216.6K.
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Perficient, Inc. engages in the provision of business optimization and industry solutions. Its solutions include analytics, custom applications, management consulting, commerce, content management, business integration, customer relationship management, portals and collaboration, platform implementations, business process management, enterprise data and business intelligence, enterprise performance management, enterprise mobile, cloud services, and digital marketing. The company was founded in 1998 and is headquartered in St. Louis, MO.
