Wedbush removed Perficient from the Best Ideas List as the stock approves the current $125 price target. The firm is optimistic that FY19 will be a "smoother" year for Perficient, as recent checks indicate the company is gaining traction with operational adjustments in sales, while cross-selling with Wombat is accelerating. The firm says shares have anticipated some of these improvements, but still look discounted relative to peers.

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."