Perficient, Inc. (NASDAQ:PRFT) Expected to Announce Quarterly Sales of $227.59 Million

Brokerages expect Perficient, Inc. (NASDAQ:PRFT – Get Rating) to report sales of $227.59 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Perficient’s earnings, with estimates ranging from $226.72 million to $228.78 million. Perficient posted sales of $184.14 million during the same quarter last year, which indicates a positive year-over-year growth rate of 23.6%. The business is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Perficient will report full year sales of $931.26 million for the current year, with estimates ranging from $929.79 million to $934.00 million. For the next financial year, analysts expect that the company will post sales of $1.07 billion, with estimates ranging from $1.05 billion to $1.09 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Perficient.

Perficient (NASDAQ:PRFT – Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The digital transformation consultancy reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.02. The business had revenue of $222.11 million during the quarter, compared to the consensus estimate of $219.66 million. Perficient had a net margin of 8.07% and a return on equity of 27.60%. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.63 earnings per share.

A number of equities analysts have recently commented on PRFT shares. Zacks Investment Research raised shares of Perficient from a “hold” rating to a “buy” rating and set a $112.00 target price on the stock in a research report on Thursday, April 28th. TheStreet raised shares of Perficient from a “c+” rating to a “b-” rating in a research report on Thursday, April 28th. JPMorgan Chase & Co. reduced their target price on shares of Perficient from $138.00 to $133.00 in a research report on Friday, April 29th. Needham & Company LLC reduced their target price on shares of Perficient from $155.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, February 25th. Finally, StockNews.com started coverage on shares of Perficient in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Perficient has an average rating of “Buy” and an average price target of $128.00.

In other news, Director Gary Wimberly purchased 399 shares of the business’s stock in a transaction on Monday, February 28th. The shares were acquired at an average cost of $100.00 per share, with a total value of $39,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.20% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRFT. CVA Family Office LLC acquired a new position in shares of Perficient in the 4th quarter valued at $26,000. CWM LLC increased its position in shares of Perficient by 846.4% in the 1st quarter. CWM LLC now owns 265 shares of the digital transformation consultancy’s stock valued at $29,000 after acquiring an additional 237 shares during the period. First Horizon Advisors Inc. increased its position in shares of Perficient by 890.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 545 shares of the digital transformation consultancy’s stock valued at $31,000 after acquiring an additional 490 shares during the period. Point72 Hong Kong Ltd boosted its holdings in Perficient by 1,971.4% in the fourth quarter. Point72 Hong Kong Ltd now owns 290 shares of the digital transformation consultancy’s stock valued at $37,000 after purchasing an additional 276 shares during the last quarter. Finally, Covestor Ltd purchased a new stake in Perficient in the fourth quarter valued at $46,000. 89.37% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ PRFT opened at $94.56 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.38 and a quick ratio of 2.38. The company has a market cap of $3.28 billion, a P/E ratio of 51.11, a PEG ratio of 1.50 and a beta of 1.49. Perficient has a 1 year low of $69.01 and a 1 year high of $153.28. The firm has a 50-day simple moving average of $104.94 and a two-hundred day simple moving average of $114.11.

About Perficient (Get Rating)

Perficient, Inc provides digital consultancy services and solutions in the United States. The company offers strategy and consulting solutions in the areas of digital and technology strategy, management consulting, and organizational change management; 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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