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

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Perficient (PRFT - Free Report) is slated to report first-quarter 2022 results on Apr 28.

The Zacks Consensus Estimate for revenues is pegged at $219.33 million, indicating an improvement of 29.52% from the year-ago quarter’s levels.

For the quarter, the Zacks Consensus Estimate for earnings has been steady at 95 cents per share in the past 30 days. The figure suggests growth of 26.67% from the year-ago reported figure.

The company’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 6.62%.

Perficient, Inc. Price and EPS Surprise

Perficient, Inc. Price and EPS Surprise

Perficient, Inc. price-eps-surprise | Perficient, Inc. Quote

Factors to Note

Perficient is expected to have benefited from accelerated momentum in the first quarter of 2022.

The company’s organic offshore revenues might have witnessed growth in the to-be-reported quarter, courtesy of the accelerated demand and strong utilization of its capabilities.

The company’s aggressive global expansion strategy may have favored its first-quarter performance. The acquisition of Overactive expanded Perficient’s global presence in South America, across Uruguay, Colombia, Chile and Argentina. The buyout of Overactive is likely to get reflected in first-quarter earnings.

The company’s first-quarter top line is likely to reflect benefits from continued growth in customer acquisitions and expanding existing relationships.

Perficient’s adoption of new accounting standard for convertible debt in the first quarter of 2022 might have substantially reduced interest expense. This, in turn, may have favored the bottom line in the quarter to be reported.

What Our Model Says

Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.

Perficient has an Earnings ESP of 0.00% and carries a Zacks Rank #2, currently. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Stocks to Consider

Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:

Analog Devices (ADI - Free Report) has an Earnings ESP of +2.17% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

ADI shares have fallen 12.4% in the year-to-date period compared with the Zacks Computer and Technology sector’s decline of 21.6%.

Cisco Systems (CSCO - Free Report) has an Earnings ESP of +0.84% and a Zacks Rank of 2.

Cisco shares have fallen 18.7% in the year-to-date period.

Hewlett Packard (HPE - Free Report) has an Earnings ESP of +1.58% and a Zacks Rank of 2.

HPE shares have fallen 2.4% in the year-to-date period.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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