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Perion Network (PERI) Dips More Than Broader Markets: What You Should Know
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Perion Network (PERI - Free Report) closed the most recent trading day at $38, moving -1.88% from the previous trading session. This change lagged the S&P 500's daily loss of 0.6%. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 2.87%.
Heading into today, shares of the digital media company had gained 3.97% over the past month, outpacing the Computer and Technology sector's gain of 3.62% and lagging the S&P 500's gain of 6.22% in that time.
Perion Network will be looking to display strength as it nears its next earnings release, which is expected to be May 3, 2023. In that report, analysts expect Perion Network to post earnings of $0.52 per share. This would mark year-over-year growth of 57.58%. Our most recent consensus estimate is calling for quarterly revenue of $141.65 million, up 13.03% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.69 per share and revenue of $730.13 million, which would represent changes of +8.91% and +14.04%, respectively, from the prior year.
Any recent changes to analyst estimates for Perion Network should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Perion Network currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Perion Network is currently trading at a Forward P/E ratio of 14.4. Its industry sports an average Forward P/E of 21.13, so we one might conclude that Perion Network is trading at a discount comparatively.
Meanwhile, PERI's PEG ratio is currently 0.58. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Internet - Content industry currently had an average PEG ratio of 1.93 as of yesterday's close.
The Internet - Content industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Perion Network (PERI) Dips More Than Broader Markets: What You Should Know
Perion Network (PERI - Free Report) closed the most recent trading day at $38, moving -1.88% from the previous trading session. This change lagged the S&P 500's daily loss of 0.6%. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 2.87%.
Heading into today, shares of the digital media company had gained 3.97% over the past month, outpacing the Computer and Technology sector's gain of 3.62% and lagging the S&P 500's gain of 6.22% in that time.
Perion Network will be looking to display strength as it nears its next earnings release, which is expected to be May 3, 2023. In that report, analysts expect Perion Network to post earnings of $0.52 per share. This would mark year-over-year growth of 57.58%. Our most recent consensus estimate is calling for quarterly revenue of $141.65 million, up 13.03% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.69 per share and revenue of $730.13 million, which would represent changes of +8.91% and +14.04%, respectively, from the prior year.
Any recent changes to analyst estimates for Perion Network should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Perion Network currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Perion Network is currently trading at a Forward P/E ratio of 14.4. Its industry sports an average Forward P/E of 21.13, so we one might conclude that Perion Network is trading at a discount comparatively.
Meanwhile, PERI's PEG ratio is currently 0.58. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Internet - Content industry currently had an average PEG ratio of 1.93 as of yesterday's close.
The Internet - Content industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.