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Perion Network (PERI) Advances While Market Declines: Some Information for Investors
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In the latest market close, Perion Network (PERI - Free Report) reached $12.59, with a +0.96% movement compared to the previous day. The stock exceeded the S&P 500, which registered a loss of 1.57% for the day. Meanwhile, the Dow lost 1.49%, and the Nasdaq, a tech-heavy index, lost 2.04%.
Coming into today, shares of the digital media company had lost 43.01% in the past month. In that same time, the Computer and Technology sector lost 2.27%, while the S&P 500 lost 2.5%.
Market participants will be closely following the financial results of Perion Network in its upcoming release. The company plans to announce its earnings on May 8, 2024. The company's earnings per share (EPS) are projected to be $0.44, reflecting a 26.67% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $156.96 million, reflecting an 8.13% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.72 per share and a revenue of $599.46 million, signifying shifts of -48.35% and -19.34%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Perion Network. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 52.41% lower. At present, Perion Network boasts a Zacks Rank of #5 (Strong Sell).
In the context of valuation, Perion Network is at present trading with a Forward P/E ratio of 7.24. This indicates a discount in contrast to its industry's Forward P/E of 18.48.
Also, we should mention that PERI has a PEG ratio of 0.33. 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 1.66 as of yesterday's close.
The Internet - Content industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 165, this industry ranks in the bottom 35% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Perion Network (PERI) Advances While Market Declines: Some Information for Investors
In the latest market close, Perion Network (PERI - Free Report) reached $12.59, with a +0.96% movement compared to the previous day. The stock exceeded the S&P 500, which registered a loss of 1.57% for the day. Meanwhile, the Dow lost 1.49%, and the Nasdaq, a tech-heavy index, lost 2.04%.
Coming into today, shares of the digital media company had lost 43.01% in the past month. In that same time, the Computer and Technology sector lost 2.27%, while the S&P 500 lost 2.5%.
Market participants will be closely following the financial results of Perion Network in its upcoming release. The company plans to announce its earnings on May 8, 2024. The company's earnings per share (EPS) are projected to be $0.44, reflecting a 26.67% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $156.96 million, reflecting an 8.13% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.72 per share and a revenue of $599.46 million, signifying shifts of -48.35% and -19.34%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Perion Network. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 52.41% lower. At present, Perion Network boasts a Zacks Rank of #5 (Strong Sell).
In the context of valuation, Perion Network is at present trading with a Forward P/E ratio of 7.24. This indicates a discount in contrast to its industry's Forward P/E of 18.48.
Also, we should mention that PERI has a PEG ratio of 0.33. 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 1.66 as of yesterday's close.
The Internet - Content industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 165, this industry ranks in the bottom 35% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.