On July 11, 2006, I posted Perficient (PRFT) on Stock Picks Bob's Advice when the stock was trading at $13.45. This was a 'revisit' as I had first actually looked at Perficient on March 4, 2005 , when the stock was trading at $9.33. Perficient closed at $16.20 on January 11, 2008, for a gain of $2.75 or 20.4% since posting last year.
Looking at the "point and figure" chart from StockCharts.com on PRFT , we can see the shapr rise in price from $3.00/share in August, 2004, to a recent high at $25.00/share in August, 2007. The stock has recently been under pressure but appears to have found support at $15 and may possibly be moving higher once again.
Let's take a closer look at some of the fundamentals on this stock before determining a 'rating'.
First of all the latest quarter--on November 8, 2007, Perficient reported 3rd quarter 2007 results . Revenue climbed 20% to $53.1 million from $44.3 million last year. Earnings per share climbed 50% to $.15/share from $.10/share the prior year. Net income climbed 60% to $4.5 million from $2.8 million last year. Non-GAAP earnings were $.21/share.
The company beat expectations of earnings of $.20/share and came in slightly light on revenue which had been expected to come in at $55.1 million. More recently the company raised guidance on 4th quarter revenue figures to $61.2 to $62.7 million in sales from prior forecast of $56.3 to $62.1 million.
Examining the Morningstar.com '5-Yr Restated' financials , we can see that revenue is continuing to grow steadily, earnings expanding, shares are relatively stable, free cash flow is positive and growing, and the balance sheet appears solid.
Thus,
PERFICIENT (PRFT) IS RATED A BUY
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$16.24 (01/14/08)
Agree
Disagree
