Perion Network (PERI) Stock Moves -0.79%: What You Should Know
Perion Network (PERI) closed at $21.29 in the latest trading session, marking a -0.79% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.13%. At the same time, the Dow lost 1.01%, and the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the digital media company had gained 5.82% over the past month. This has outpaced the Computer and Technology sector's loss of 11.27% and the S&P 500's loss of 7.59% in that time.
Perion Network will be looking to display strength as it nears its next earnings release. In that report, analysts expect Perion Network to post earnings of $0.41 per share. This would mark year-over-year growth of 46.43%. Our most recent consensus estimate is calling for quarterly revenue of $155.15 million, up 28.19% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.87 per share and revenue of $629.29 million, which would represent changes of +83.33% and +31.51%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Perion Network. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Perion Network is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that Perion Network has a Forward P/E ratio of 11.46 right now. This represents a discount compared to its industry's average Forward P/E of 22.75.
Also, we should mention that PERI has a PEG ratio of 0.46. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. PERI's industry had an average PEG ratio of 1.87 as of yesterday's close.
The Internet - Content industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 47, which puts it in the top 19% 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.
To follow PERI in the coming trading sessions, be sure to utilize Zacks.com.
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