Perficient (NASDAQ:PRFT) Releases Q1 2020 Pre-Market Earnings Guidance

Perficient (NASDAQ:PRFT) issued an update on its first quarter 2020
Pre-Market earnings guidance on Tuesday morning. The company provided EPS guidance of 0.49-0.52 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.52. The company issued revenue guidance of $143-149 million, compared to the consensus revenue estimate of $148.61 million.Perficient also updated its FY 2020
Pre-Market guidance to 2.30-2.45 EPS.

Perficient stock traded down $0.09 during midday trading on Wednesday, reaching $44.06. 618,300 shares of the stock were exchanged, compared to its average volume of 395,782. The company’s fifty day moving average is $50.10 and its 200-day moving average is $42.31. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.69 and a current ratio of 2.69. The firm has a market cap of $1.61 billion, a PE ratio of 43.20, a PEG ratio of 2.14 and a beta of 0.81. Perficient has a 52 week low of $26.97 and a 52 week high of $53.76.

Perficient (NASDAQ:PRFT) last posted its earnings results on Tuesday, February 25th. The digital transformation consultancy reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.12. The business had revenue of $145.16 million for the quarter, compared to analyst estimates of $145.55 million. Perficient had a net margin of 5.94% and a return on equity of 13.21%. Perficient’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 EPS. On average, sell-side analysts anticipate that Perficient will post 1.65 earnings per share for the current fiscal year.

PRFT has been the topic of a number of analyst reports. ValuEngine raised shares of Perficient from a sell rating to a hold rating in a report on Tuesday, February 4th. Maxim Group reaffirmed a buy rating and set a $50.00 target price on shares of Perficient in a report on Friday, November 8th. Barrington Research upped their target price on shares of Perficient from $46.00 to $52.00 and gave the stock an outperform rating in a report on Wednesday. Finally, BidaskClub raised shares of Perficient from a buy rating to a strong-buy rating in a report on Saturday, November 16th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $45.80.

In other news, CFO Paul E. Martin sold 15,000 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $46.56, for a total value of $698,400.00. Following the transaction, the chief financial officer now owns 157,674 shares of the company’s stock, valued at approximately $7,341,301.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.90% of the stock is owned by corporate insiders.

About Perficient

Perficient, Inc provides information technology and management consulting services in the United States. The company designs, builds, and delivers solutions using middleware software products developed by third-party vendors. Its solutions include portals and collaboration, such as searchable data systems, collaborative systems for process improvement, transaction processing, unified and extended reporting, commerce, content management, and other services; and platform implementations services, including application server selection, architecture planning, installation and configuration, clustering for availability, performance assessment and issue remediation, security, and technology migrations.

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