Perion Network (PERI) Stock Moves -1.93%: What You Need To Know – October 14, 2022

During the last trading session, Perion Network (PERI Free Report) closed at $22.35, marking a -1.93% move from the previous day. That move was narrower than the S&P 500’s 2.37% daily loss. Meanwhile, the Dow lost 1.35% and the Nasdaq, a technology-heavy index, lost 0.24%.

As of today, shares of the digital media company have gained 2.29% over the past month. Meanwhile, the IT & Technology sector lost 9.03%, while the S&P 500 lost 6.51%.

Perion Network will be looking to show strength as it approaches its next earnings release. In this report, analysts expect Perion Network to post earnings of $0.52 per share. This would mark a year-over-year growth of 85.71%. Our most recent consensus estimate calls for quarterly revenue of $158.01 million, up 30.55% from the prior year period.

Looking to the full year, our Zacks consensus estimates suggest analysts are expecting earnings of $2 per share and revenue of $631.79 million. These totals would mark changes of +96.08% and +32.04%, respectively, from last year.

Any recent changes in analyst estimates for Perion Network should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term trading trends. With this in mind, we can view positive estimate revisions as a sign of optimism about the company’s business outlook.

Our research shows that these estimate changes are directly correlated to short-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes into account these estimation changes and provides a clear and actionable scoring model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven track record of outperformance, with #1 stocks returning an average of +25% per year since 1988. In the past 30 days, our consensus EPS projection has increased by 6.93%. Perion Network is currently a Zacks Rank #2 (Buy).

Valuation is also important, so investors should note that Perion Network has a Forward P/E ratio of 11.41 at this time. For comparison, its industry has an average Forward P/E of 21.24, meaning Perion Network is trading at a discount to the group.

Also, it should be mentioned that PERI has a PEG ratio of 0.46. This popular measure is similar to the widely known P/E ratio, except that the PEG ratio also takes into account the company’s expected earnings growth rate. PERI’s industry had an average PEG ratio of 1.6 at yesterday’s close.

The Internet – Content industry is part of the IT and Technology sector. This group has a Zacks Industry ranking of 43, which places it in the top 18% of over 250 industries.

The Zacks Industry Ranking assesses the strength of our industry groups by measuring the average Zacks Ranking of individual stocks within the groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.

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