Maxim Group Sticks to Its Buy Rating for Perficient (PRFT)


Maxim Group analyst Allen Klee reiterated a Buy rating on Perficient (PRFT) yesterday and set a price target of $46. The company’s shares opened today at $38.80, equals to its 52-week high of $38.80.

Klee said:

“2Q19 non-GAAP EPS of $0.52 topped our estimate and consensus of $0.48. Revenue of $141.9M beat our estimate of $137.7M and consensus of $136.5M. Organic revenue growth rate hit a record of 12.5% y/y.”

According to TipRanks.com, Klee is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -12.2% and a 29.4% success rate. Klee covers the Technology sector, focusing on stocks such as Sify Technologies Limited, Dolphin Entertainment Inc, and ATN International Inc.

Perficient has an analyst consensus of Strong Buy, with a price target consensus of $40.50, a 4.4% upside from current levels. In a report released today, Barrington also maintained a Buy rating on the stock with a $44 price target.

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Based on Perficient’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $8.53 million. In comparison, last year the company had a net profit of $5.85 million.

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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.

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