Perion Network (PERI) Stock Moves -0.8%: What You Should Know
Perion Network (PERI) closed at $19.86 in the latest trading session, marking a -0.8% move from the prior day. This move was narrower than the S&P 500's daily loss of 2.11%. Elsewhere, the Dow lost 1.54%, while the tech-heavy Nasdaq lost 0.3%.
Heading into today, shares of the digital media company had lost 2.1% over the past month, outpacing the Computer and Technology sector's loss of 10.31% and the S&P 500's loss of 8.19% in that time.
Investors will be hoping for strength from Perion Network as it approaches 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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.
Investors might also notice recent changes to analyst estimates for Perion Network. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Perion Network is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, Perion Network is holding a Forward P/E ratio of 10.69. This represents a discount compared to its industry's average Forward P/E of 20.54.
Also, we should mention that PERI has a PEG ratio of 0.43. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Internet - Content industry currently had an average PEG ratio of 1.76 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 50, which puts it in the top 20% 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.
To follow PERI in the coming trading sessions, be sure to utilize Zacks.com.
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