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Perion Network (PERI) Exceeds Market Returns: Some Facts to Consider
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The latest trading session saw Perion Network (PERI - Free Report) ending at $29.17, denoting a +1.14% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily gain of 0.43%. Meanwhile, the Dow gained 0.19%, and the Nasdaq, a tech-heavy index, added 0.71%.
The the stock of digital media company has fallen by 9.17% in the past month, lagging the Computer and Technology sector's loss of 1.56% and the S&P 500's loss of 2.1%.
The upcoming earnings release of Perion Network will be of great interest to investors. The company's earnings report is expected on November 1, 2023. The company's earnings per share (EPS) are projected to be $0.76, reflecting a 24.59% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $184.48 million, up 16.3% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $3.18 per share and a revenue of $741.74 million, demonstrating changes of +28.74% and +15.85%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Perion Network. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Perion Network is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Perion Network is currently exchanging hands at a Forward P/E ratio of 9.08. This signifies a discount in comparison to the average Forward P/E of 22.06 for its industry.
We can also see that PERI currently has a PEG ratio of 0.41. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Internet - Content industry held an average PEG ratio of 1.43.
The Internet - Content industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 174, positioning it in the bottom 31% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Perion Network (PERI) Exceeds Market Returns: Some Facts to Consider
The latest trading session saw Perion Network (PERI - Free Report) ending at $29.17, denoting a +1.14% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily gain of 0.43%. Meanwhile, the Dow gained 0.19%, and the Nasdaq, a tech-heavy index, added 0.71%.
The the stock of digital media company has fallen by 9.17% in the past month, lagging the Computer and Technology sector's loss of 1.56% and the S&P 500's loss of 2.1%.
The upcoming earnings release of Perion Network will be of great interest to investors. The company's earnings report is expected on November 1, 2023. The company's earnings per share (EPS) are projected to be $0.76, reflecting a 24.59% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $184.48 million, up 16.3% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $3.18 per share and a revenue of $741.74 million, demonstrating changes of +28.74% and +15.85%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Perion Network. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Perion Network is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Perion Network is currently exchanging hands at a Forward P/E ratio of 9.08. This signifies a discount in comparison to the average Forward P/E of 22.06 for its industry.
We can also see that PERI currently has a PEG ratio of 0.41. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Internet - Content industry held an average PEG ratio of 1.43.
The Internet - Content industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 174, positioning it in the bottom 31% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.