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Perficient (PRFT) to Report Q1 Earnings: What's in Store?

Zacks Equity Research

Perficient PRFT is scheduled to report first-quarter 2019 results on May 2.

In the last reported quarter, the company came up with a positive surprise of 17.5%.  In fact, the company’s earnings history is impressive, having trumped the Zacks Consensus Estimate in each of the trailing four quarters, the average being 126.49%.

Revenues of $132 million in the same period also topped the Zacks Consensus Estimate of $129 million but declined by a million from the year-ago quarter.

What to Expect in Q1

For first-quarter 2019, Perficient expects revenues in the range of $129-$133 million. The Zacks Consensus Estimate is pegged at $131.2 million, indicating nearly 8.5% increase from the year-ago reported figure.

Non-GAAP earnings are anticipated in the range of 38-41 cents per share. The Zacks Consensus Estimate for the same stands at 40 cents, suggesting a 14.2% rise from the number reported in the prior-year quarter.

Perficient, Inc. Price and EPS Surprise

Perficient, Inc. Price and EPS Surprise | Perficient, Inc. Quote

Let’s see how things are shaping up for the upcoming announcement.

Factors to Consider

Perficient’s performance in the upcoming quarterly result is likely to be driven by services revenues. The growing adoption of cloud, big data and analytics is boosting demand for its services.

Notably, investments in expanding its portfolio around high-growth areas like cloud and digital are likely to be a key driver.

Broad-based growth across healthcare, financial services, retail and consumer goods [plus automotive and manufacturing verticals is likely to favor the company’s upcoming results.

Partnership with leading software vendors, namely International Business Machines IBM, Microsoft MSFT, Adobe ADBE, Oracle and Salesforce is helping the company win new customers. This domain expertise is likely to aid the upcoming quarterly results as well.

However, softness in the management consulting market is a concern.

Perficient has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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