Perficient (PRFT - Free Report) is scheduled to report third-quarter 2019 results on Nov 7.
For the third quarter, Perficient expects revenues in the range of $140-$145 million. The Zacks Consensus Estimate is pegged at $143.3 million, indicating nearly 15.6% increase from the year-ago reported figure.
Non-GAAP earnings are anticipated in the band of 50-53 cents per share. The Zacks Consensus Estimate for the same stands at 52 cents, suggesting a 26.8% rise from the prior-year reported number.
In the last reported quarter, the company came up with a positive surprise of 8.33%. 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 9.62%.
Revenues of $142 million in the same period also topped the Zacks Consensus Estimate of $137 million and improved 14.5% from the year-ago quarter as well.
Let’s see how things are shaping up for the upcoming announcement.
Factors at Play
Perficient’s leadership in the flourishing digital transformation market is likely to have been a consistent key growth driver in the third quarter.
The company is benefiting from the growing adoption of cloud, big data and analytics, which is driving demand for its services. Investments in portfolio expansion around high-growth areas like cloud and digital are likely to have been a key catalyst in the third quarter.
Moreover, the company’s focus on partnership deal wins is likely to have been an upside. Notably, alliances with leading software vendors, namely International Business Machines (IBM - Free Report) , Microsoft (MSFT - Free Report) , Adobe (ADBE - Free Report) , Oracle and salesforce are helping the company gain customers.
In the last reported quarter, the company snapped up 62 large contracts with bookings worth more than $500,000. Growth across healthcare, financial services, retail and consumer goods plus automotive and manufacturing verticals was a positive. This is expected to boost the upcoming results as well.
Perficient carries 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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