Brokerages Anticipate Perficient, Inc. (NASDAQ:PRFT) Will Announce Quarterly Sales of $166.55 Million

Equities research analysts expect that Perficient, Inc. (NASDAQ:PRFT) will announce sales of $166.55 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Perficient’s earnings, with estimates ranging from $165.65 million to $167.05 million. Perficient reported sales of $145.56 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.4%. The firm is expected to report its next quarterly earnings results before the market opens on Thursday, April 29th.

On average, analysts expect that Perficient will report full year sales of $690.22 million for the current fiscal year, with estimates ranging from $687.01 million to $693.70 million. For the next fiscal year, analysts anticipate that the business will post sales of $753.49 million, with estimates ranging from $748.50 million to $762.70 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Perficient.

Perficient (NASDAQ:PRFT) last issued its earnings results on Thursday, February 25th. The digital transformation consultancy reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The company had revenue of $162.40 million for the quarter, compared to analysts’ expectations of $159.61 million. Perficient had a net margin of 5.64% and a return on equity of 15.08%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.58 EPS.

A number of equities research analysts have issued reports on PRFT shares. JPMorgan Chase & Co. started coverage on shares of Perficient in a report on Tuesday, March 30th. They issued a “neutral” rating and a $68.00 price target on the stock. Barrington Research raised their price target on shares of Perficient from $48.00 to $68.00 and gave the stock an “outperform” rating in a report on Friday, February 26th. Needham & Company LLC lifted their target price on shares of Perficient from $46.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, February 26th. Alliance Global Partners lifted their target price on shares of Perficient from $55.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, February 25th. Finally, Zacks Investment Research raised shares of Perficient from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research note on Friday, March 5th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Perficient has an average rating of “Buy” and an average price target of $64.33.

NASDAQ:PRFT traded down $1.41 during trading hours on Friday, reaching $61.02. The company’s stock had a trading volume of 9,217 shares, compared to its average volume of 280,055. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 60.03, a PEG ratio of 1.78 and a beta of 1.49. The firm has a 50-day simple moving average of $59.19 and a 200-day simple moving average of $50.63. Perficient has a 1 year low of $28.78 and a 1 year high of $66.14. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.97 and a current ratio of 1.97.

A number of large investors have recently bought and sold shares of PRFT. Everence Capital Management Inc. purchased a new position in shares of Perficient during the first quarter valued at approximately $303,000. Confluence Investment Management LLC raised its holdings in shares of Perficient by 3.8% during the first quarter. Confluence Investment Management LLC now owns 74,167 shares of the digital transformation consultancy’s stock valued at $4,355,000 after purchasing an additional 2,729 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Perficient by 7.8% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 55,016 shares of the digital transformation consultancy’s stock valued at $2,621,000 after purchasing an additional 3,989 shares during the last quarter. Norges Bank purchased a new position in shares of Perficient during the fourth quarter valued at approximately $32,109,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Perficient during the fourth quarter valued at approximately $4,655,000. 93.85% of the stock is currently owned by institutional investors and hedge funds.

Perficient Company Profile

Perficient, Inc provides digital consultancy services and solutions in the United States. The company offers solutions in the digital and technology strategy, management consulting, and organizational change management areas; and data and intelligence solutions in the areas of analytics, artificial intelligence and machine learning, big data, business intelligence, and custom product portfolio.

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