We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Perion Network (PERI) Soars 16.3%: Is Further Upside Left in the Stock?
Read MoreHide Full Article
Perion Network (PERI - Free Report) shares soared 16.3% in the last trading session to close at $21.70. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 12.8% gain over the past four weeks.
The upswing in share price can be attributed to strong preliminary second-quarter 2021 results. Perion now anticipates revenues of $105 million, which suggests 74% growth from the figure reported in the year-ago quarter and 17% growth on a sequential basis.
Moreover, adjusted EBITDA is expected to be $13.5 million, indicating a whopping increase of 440% from the figure reported in the year-ago quarter and 53% growth on a sequential basis.
Perion is riding on its strong product portfolio. Advertising revenues in second-quarter 2021 are expected to have benefited from strong video advertising. Moreover, search revenues are also expected to have jumped to hit record level.
This digital media company is expected to post quarterly earnings of $0.08 per share in its upcoming report, which represents a year-over-year change of +14.3%. Revenues are expected to be $95.85 million, up 58.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Perion Network, the consensus EPS estimate for the quarter has been revised 14.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on PERI going forward to see if this recent jump can turn into more strength down the road.
Image: Bigstock
Perion Network (PERI) Soars 16.3%: Is Further Upside Left in the Stock?
Perion Network (PERI - Free Report) shares soared 16.3% in the last trading session to close at $21.70. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 12.8% gain over the past four weeks.
The upswing in share price can be attributed to strong preliminary second-quarter 2021 results. Perion now anticipates revenues of $105 million, which suggests 74% growth from the figure reported in the year-ago quarter and 17% growth on a sequential basis.
Moreover, adjusted EBITDA is expected to be $13.5 million, indicating a whopping increase of 440% from the figure reported in the year-ago quarter and 53% growth on a sequential basis.
Perion is riding on its strong product portfolio. Advertising revenues in second-quarter 2021 are expected to have benefited from strong video advertising. Moreover, search revenues are also expected to have jumped to hit record level.
This digital media company is expected to post quarterly earnings of $0.08 per share in its upcoming report, which represents a year-over-year change of +14.3%. Revenues are expected to be $95.85 million, up 58.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Perion Network, the consensus EPS estimate for the quarter has been revised 14.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on PERI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>