Barrington analyst Vincent Colicchio started Perficient with an Outperform rating and $31 price target. The company is targeting the "large, rapidly growing and under-penetrated" digital transformation consulting market, Colicchio tells investors in a research note. He believes Perficient has several competitive advantages in this market, including its "strong" systems integration capabilities and its relatively low bill rates. The analyst views the stock as undervalued at current levels.

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."