Perion Network (PERI) Dips More Than Broader Market: What You Should Know
In the latest trading session, Perion Network (PERI) closed at $27.04, marking a -0.84% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.01%. At the same time, the Dow added 0.04%, and the tech-heavy Nasdaq lost 0.25%.
The digital media company's shares have seen a decrease of 10.62% over the last month, not keeping up with the Computer and Technology sector's loss of 0.05% and the S&P 500's loss of 1.6%.
The investment community will be paying close attention to the earnings performance of Perion Network in its upcoming release. The company is slated to reveal its earnings on November 1, 2023. The company is predicted to post an EPS of $0.76, indicating a 24.59% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $184.48 million, indicating a 16.3% growth compared to the corresponding quarter of the prior year.
PERI's full-year Zacks Consensus Estimates are calling for earnings of $3.18 per share and revenue of $741.74 million. These results would represent year-over-year changes of +28.74% and +15.85%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, Perion Network boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Perion Network is at present trading with a Forward P/E ratio of 8.59. This denotes a discount relative to the industry's average Forward P/E of 22.01.
We can also see that PERI currently has a PEG ratio of 0.39. 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. As of the close of trade yesterday, the Internet - Content industry held an average PEG ratio of 1.36.
The Internet - Content industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 173, putting it in the bottom 32% 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.
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 Ltd (PERI) : Free Stock Analysis Report
