After Maxim Group and Needham 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 $31.99, close to its 52-week high of $32.92.
Colicchio wrote:
“We are increasing our 2019 and 2020 non- GAAP EPS forecasts to $1.86 and $2.02 from $1.72 and $1.89, respectively.”
According to TipRanks.com, Colicchio is a 1-star analyst with an average return of -3.3% and a 56.1% 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 $37.67, representing a 17.8% upside. In a report released yesterday, Needham also maintained a Buy rating on the stock with a $36 price target.
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Based on Perficient’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $7.48 million. In comparison, last year the company had a net profit of $4.93 million.
Based on the recent corporate insider activity of 29 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.
