After Needham and Maxim Group gave Perficient (NASDAQ: PRFT) a Buy rating last month, the company received another Buy, this time from Barrington. Analyst Vincent Colicchio maintained a Buy rating on Perficient today and set a price target of $37. The company’s shares opened today at $30.46.
Colicchio wrote:
“We are increasing our 2019 and 2020 non- GAAP EPS forecasts to $1.88 and $2.05 from $1.86 and $2.02, respectively. We updated our earnings model due to an update in management’s guidance, which reflects the impact of the Sundog Interactive acquisition and better organic growth.”
According to TipRanks.com, Colicchio ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -8.1% and a 39.4% success rate. Colicchio covers the Technology sector, focusing on stocks such as Sykes Enterprises Inc, Exlservice Holdings, and Computer Task.
Perficient has an analyst consensus of Strong Buy, with a price target consensus of $38.75, representing a 27.2% upside. In a report issued on May 24, Needham also maintained a Buy rating on the stock with a $37 price target.
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The company has a one-year high of $32.92 and a one-year low of $20.92. Currently, Perficient has an average volume of 264K.
Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is negative on the stock.
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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 & 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.
