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Is Perion Network (PERI) Stock Outpacing Its Computer and Technology Peers This Year?

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Zacks Equity Research
·2 min read
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For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Perion Network (PERI) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Perion Network is one of 630 companies in the Computer and Technology group. The Computer and Technology group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. PERI is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for PERI's full-year earnings has moved 29.13% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

According to our latest data, PERI has moved about 26.37% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 0.42% on average. This means that Perion Network is outperforming the sector as a whole this year.

Looking more specifically, PERI belongs to the Internet - Content industry, which includes 19 individual stocks and currently sits at #212 in the Zacks Industry Rank. Stocks in this group have lost about 1.39% so far this year, so PERI is performing better this group in terms of year-to-date returns.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to PERI as it looks to continue its solid performance.

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Zacks Investment Research