Maxim lowered Perficient's price target to $20 and lowered estimate due to the negative preannouncement and project delays. The firm believes bookings trends have begun to recover and indicate growth will return in Q4 and maintains its Buy rating.

Alliance Global Partners analyst Brian Kinstlinger upgraded Perficient to Buy from Neutral with a $67 price target. Many of the systems integrators' management teams, including Perficient, reported in February that demand was showing signs of improvement, the analyst tells investors in a research note. The firm says Perficient is now trading toward the low-end of its historical valuation range based on adjusted earnings. Given its "generally high visibility" to revenue, Alliance believes the stock's risk/reward profile is very favorable, "even if there are marginal shortfalls to consensus in the next few quarters."