Perficient price target raised to $85 from $80 at Barrington

Barrington analyst Vincent Colicchio raised the firm’s price target on Perficient to $85 from $80 and keeps an Outperform rating on the shares post the Q4 results. The increased price target reflects the company’s solid pipeline and recent bookings growth, which increases confidence in its ability to grow revenue and non-GAAP earnings in 2023, the analyst tells investors in a research note.