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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 $35.94 in the latest trading session, marking a +1.78% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.71%. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, added 4.62%.
Heading into today, shares of the digital media company had gained 4.96% over the past month, outpacing the Computer and Technology sector's gain of 2.78% and the S&P 500's gain of 2.65% 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.88 per share and revenue of $738.14 million, which would represent changes of +16.6% and +15.29%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Perion Network. These recent revisions tend to reflect the evolving nature of short-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. Within the past 30 days, our consensus EPS projection has moved 1.94% higher. Perion Network is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Perion Network is holding a Forward P/E ratio of 12.25. For comparison, its industry has an average Forward P/E of 22.99, which means Perion Network is trading at a discount to the group.
Also, we should mention that PERI has a PEG ratio of 0.49. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Internet - Content industry currently had an average PEG ratio of 1.28 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 110, putting it in the top 44% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Perion Network (PERI) Outpaces Stock Market Gains: What You Should Know
Perion Network (PERI - Free Report) closed at $35.94 in the latest trading session, marking a +1.78% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.71%. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, added 4.62%.
Heading into today, shares of the digital media company had gained 4.96% over the past month, outpacing the Computer and Technology sector's gain of 2.78% and the S&P 500's gain of 2.65% 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.88 per share and revenue of $738.14 million, which would represent changes of +16.6% and +15.29%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Perion Network. These recent revisions tend to reflect the evolving nature of short-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. Within the past 30 days, our consensus EPS projection has moved 1.94% higher. Perion Network is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Perion Network is holding a Forward P/E ratio of 12.25. For comparison, its industry has an average Forward P/E of 22.99, which means Perion Network is trading at a discount to the group.
Also, we should mention that PERI has a PEG ratio of 0.49. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Internet - Content industry currently had an average PEG ratio of 1.28 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 110, putting it in the top 44% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.