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Perion Network (PERI) Surpasses Market Returns: Some Facts Worth Knowing
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Perion Network (PERI - Free Report) closed at $11.90 in the latest trading session, marking a +1.32% move from the prior day. This change outpaced the S&P 500's 0.03% gain on the day. Meanwhile, the Dow gained 0.41%, and the Nasdaq, a tech-heavy index, added 0.12%.
Heading into today, shares of the digital media company had lost 45.6% over the past month, lagging the Computer and Technology sector's loss of 0.55% and the S&P 500's loss of 0.9% in that time.
The upcoming earnings release of Perion Network will be of great interest to investors. The company's earnings report is expected on May 8, 2024. In that report, analysts expect Perion Network to post earnings of $0.44 per share. This would mark a year-over-year decline of 26.67%. Simultaneously, our latest consensus estimate expects the revenue to be $156.96 million, showing an 8.13% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.72 per share and revenue of $599.46 million, which would represent changes of -48.35% and -19.34%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Perion Network. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 shifted 52.41% downward. At present, Perion Network boasts a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Perion Network has a Forward P/E ratio of 6.81 right now. For comparison, its industry has an average Forward P/E of 18.83, which means Perion Network is trading at a discount to the group.
One should further note that PERI currently holds a PEG ratio of 0.31. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Internet - Content industry had an average PEG ratio of 1.5.
The Internet - Content industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 195, which puts it in the bottom 23% 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) Surpasses Market Returns: Some Facts Worth Knowing
Perion Network (PERI - Free Report) closed at $11.90 in the latest trading session, marking a +1.32% move from the prior day. This change outpaced the S&P 500's 0.03% gain on the day. Meanwhile, the Dow gained 0.41%, and the Nasdaq, a tech-heavy index, added 0.12%.
Heading into today, shares of the digital media company had lost 45.6% over the past month, lagging the Computer and Technology sector's loss of 0.55% and the S&P 500's loss of 0.9% in that time.
The upcoming earnings release of Perion Network will be of great interest to investors. The company's earnings report is expected on May 8, 2024. In that report, analysts expect Perion Network to post earnings of $0.44 per share. This would mark a year-over-year decline of 26.67%. Simultaneously, our latest consensus estimate expects the revenue to be $156.96 million, showing an 8.13% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.72 per share and revenue of $599.46 million, which would represent changes of -48.35% and -19.34%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Perion Network. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 shifted 52.41% downward. At present, Perion Network boasts a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Perion Network has a Forward P/E ratio of 6.81 right now. For comparison, its industry has an average Forward P/E of 18.83, which means Perion Network is trading at a discount to the group.
One should further note that PERI currently holds a PEG ratio of 0.31. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Internet - Content industry had an average PEG ratio of 1.5.
The Internet - Content industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 195, which puts it in the bottom 23% 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.