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 7.6%: Is Further Upside Left in the Stock?
Read MoreHide Full Article
Perion Network (PERI - Free Report) shares rallied 7.6% in the last trading session to close at $27. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 4.2% loss over the past four weeks.
The recent surge in Perion’s share price reflects investors bullish sentiment after the company released its preliminary results for the fourth quarter 2022. Perion reported its fourth quarter 2022 revenues is expected to grow 30% year over year to $205 million and the Adjusted EBITDA growth of 60% year over year.
This digital media company is expected to post quarterly earnings of $0.65 per share in its upcoming report, which represents a year-over-year change of +47.7%. Revenues are expected to be $201.65 million, up 27.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Perion Network, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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.
Perion Network is a member of the Zacks Internet - Content industry. One other stock in the same industry, Airbnb, Inc. (ABNB - Free Report) , finished the last trading session 4.5% higher at $88.72. ABNB has returned -8.8% over the past month.
For Airbnb, Inc., the consensus EPS estimate for the upcoming report has changed -100% over the past month to $0.25. This represents a change of +212.5% from what the company reported a year ago. Airbnb, Inc. currently has a Zacks Rank of #4 (Sell).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Perion Network (PERI) Soars 7.6%: Is Further Upside Left in the Stock?
Perion Network (PERI - Free Report) shares rallied 7.6% in the last trading session to close at $27. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 4.2% loss over the past four weeks.
The recent surge in Perion’s share price reflects investors bullish sentiment after the company released its preliminary results for the fourth quarter 2022. Perion reported its fourth quarter 2022 revenues is expected to grow 30% year over year to $205 million and the Adjusted EBITDA growth of 60% year over year.
This digital media company is expected to post quarterly earnings of $0.65 per share in its upcoming report, which represents a year-over-year change of +47.7%. Revenues are expected to be $201.65 million, up 27.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Perion Network, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Perion Network is a member of the Zacks Internet - Content industry. One other stock in the same industry, Airbnb, Inc. (ABNB - Free Report) , finished the last trading session 4.5% higher at $88.72. ABNB has returned -8.8% over the past month.
For Airbnb, Inc., the consensus EPS estimate for the upcoming report has changed -100% over the past month to $0.25. This represents a change of +212.5% from what the company reported a year ago. Airbnb, Inc. currently has a Zacks Rank of #4 (Sell).