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Perion Network (PERI) Outpaces Stock Market Gains: What You Should Know
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Perion Network (PERI - Free Report) closed at $36.26 in the latest trading session, marking a +0.89% move from the prior day. This move outpaced the S&P 500's daily gain of 0.74%. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq added 11.47%.
Prior to today's trading, shares of the digital media company had gained 4.54% over the past month. This has outpaced the Computer and Technology sector's gain of 2.44% and the S&P 500's gain of 3.34% in that time.
Wall Street will be looking for positivity from Perion Network as it approaches its next earnings report date. This is expected to be August 2, 2023. In that report, analysts expect Perion Network to post earnings of $0.67 per share. This would mark year-over-year growth of 31.37%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $176 million, up 20.01% from the year-ago period.
PERI's full-year Zacks Consensus Estimates are calling for earnings of $2.88 per share and revenue of $738.14 million. These results would represent year-over-year changes of +16.6% and +15.29%, respectively.
Investors should also note any recent changes to analyst estimates for Perion Network. Recent revisions tend to reflect the latest near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.94% higher. Perion Network is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Perion Network has a Forward P/E ratio of 12.47 right now. For comparison, its industry has an average Forward P/E of 21.13, which means Perion Network is trading at a discount to the group.
Also, we should mention that PERI has a PEG ratio of 0.5. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Content industry currently had an average PEG ratio of 1.22 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 46, putting it in the top 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow PERI in the coming trading sessions, be sure to utilize Zacks.com.
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Perion Network (PERI) Outpaces Stock Market Gains: What You Should Know
Perion Network (PERI - Free Report) closed at $36.26 in the latest trading session, marking a +0.89% move from the prior day. This move outpaced the S&P 500's daily gain of 0.74%. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq added 11.47%.
Prior to today's trading, shares of the digital media company had gained 4.54% over the past month. This has outpaced the Computer and Technology sector's gain of 2.44% and the S&P 500's gain of 3.34% in that time.
Wall Street will be looking for positivity from Perion Network as it approaches its next earnings report date. This is expected to be August 2, 2023. In that report, analysts expect Perion Network to post earnings of $0.67 per share. This would mark year-over-year growth of 31.37%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $176 million, up 20.01% from the year-ago period.
PERI's full-year Zacks Consensus Estimates are calling for earnings of $2.88 per share and revenue of $738.14 million. These results would represent year-over-year changes of +16.6% and +15.29%, respectively.
Investors should also note any recent changes to analyst estimates for Perion Network. Recent revisions tend to reflect the latest near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.94% higher. Perion Network is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Perion Network has a Forward P/E ratio of 12.47 right now. For comparison, its industry has an average Forward P/E of 21.13, which means Perion Network is trading at a discount to the group.
Also, we should mention that PERI has a PEG ratio of 0.5. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Content industry currently had an average PEG ratio of 1.22 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 46, putting it in the top 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow PERI in the coming trading sessions, be sure to utilize Zacks.com.