Needham Believes Perficient (PRFT) Still Has Room to Grow

Needham analyst Mayank Tandon reiterated a Buy rating on Perficient (PRFT) today and set a price target of $77.00. The company’s shares closed last Thursday at $64.81, close to its 52-week high of $66.35.

According to, Tandon is a top 100 analyst with an average return of 24.5% and a 68.6% success rate. Tandon covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Bottomline Technologies, and Duck Creek Technologies.

Currently, the analyst consensus on Perficient is a Strong Buy with an average price target of $74.20, which is a 14.1% upside from current levels. In a report issued on April 14, Barrington also maintained a Buy rating on the stock with a $68.00 price target.

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Perficient’s market cap is currently $2.12B and has a P/E ratio of 70.60. The company has a Price to Book ratio of -22.09.

Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PRFT in relation to earlier this year.

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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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