5 Oversold Tech Stocks To Buy

3. Perficient, Inc. (NASDAQ:PRFT)

14-day RSI as of August 2: 22.70

Perficient, Inc. (NASDAQ:PRFT) is an IT and consulting company providing digital consultancy services and solutions in the US. The company has been covered by 7 analysts in the last three months with an average price target of $77.00. The lowest forecast is $69.00 which shows a 15% upside to the stock price at the time of market opening on August 2. 

In the first quarter of 2023, 21 hedge funds held a stake in Perficient, Inc. (NASDAQ:PRFT), valued at $109.663 million, compared to 17 hedge funds worth $99.450 million in the previous quarter. Blue Grotto Capital held the largest stake in the company in Q1 with 638,523 shares worth $46.09 million.

In the second quarter of 2023, Perficient, Inc. (NASDAQ:PRFT)’s revenue increased by nearly 4% year-over-year to $231.1 million. The company reported solid earnings with a net income of $26.4 million. However, it was below the Q2 2022 values of $27.8 million.

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