PRFT Earnings

PRFT reported its earnings on 2024-08-08, showcasing a revenue of 222.82M against an estimate of 223.58M, resulting in a -0.34% surprise. The EPS was 0.92, surpassing the expected 0.8 by 15% . The stock experienced a 0% price change on the earnings day and a 0% change over the next five days, reflecting market reactions to the results.

Following PRFT's earnings announcement on 2024-08-08, the stock price moved by % on the day of the release. Over the subsequent five days, it saw a % change. Historically, PRFT's stock price tends to shift by an average of +0.00% in the 10 days leading up to earnings and +0.00% in the 10 days following, providing insight into potential market.

For , analysts estimate PRFT’s annual revenue to reach undefined, while the EPS is projected at undefined. These estimates reflect recent revisions, with revenue estimates revised Revenue No Change by % and EPS estimates No Change by % over the past three months, indicating analyst expectation in the company’s performance.

The correlation between PRFT's stock price and earnings forecast revisions shows that positive revisions in revenue or EPS often strengthen the stock’s fundamentals. Over the past three months, revenue estimates for were No Change by %, while EPS estimates moved No Change by % . This trend suggests that price dips could present buying opportunities for investors.

Based on historical trends, PRFT's stock price typically moves by +0.00% in the 10 days before its earnings and +0.00% in the 10 days after. For the upcoming earnings, analysts expect an EPS of undefined and revenue of undefined.

The earnings call summary reveals declining financial metrics, including lower gross margins, net income, and EPS, alongside reduced operating cash flows. While management expresses optimism for a second-half recovery and discretionary spending, uncertainties remain with delays in bookings and challenging margins. The Q&A highlights persistent project ramp-up delays and unclear guidance on organic growth. Despite some positive client conversations and potential acquisitions, the overall sentiment is negative, driven by financial declines and uncertainty in future growth projections.