Yahoo Finance Perion Network (PERI) Stock Slides as Market Rises: Facts to Know Before You Trade
The most recent trading session ended with Perion Network (PERI) standing at $10.80, reflecting a -1.64% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.87% gain on the day. Elsewhere, the Dow gained 0.67%, while the tech-heavy Nasdaq added 1.11%.
The digital media company's shares have seen a decrease of 51.59% over the last month, not keeping up with the Computer and Technology sector's loss of 5.98% and the S&P 500's loss of 3.97%.
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 May 8, 2024. The company is expected to report EPS of $0.44, down 26.67% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $156.96 million, indicating an 8.13% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.72 per share and a revenue of $599.46 million, signifying shifts of -48.35% and -19.34%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates 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.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 52.41% downward. Perion Network is currently sporting a Zacks Rank of #5 (Strong Sell).
Looking at valuation, Perion Network is presently trading at a Forward P/E ratio of 6.37. This denotes a discount relative to the industry's average Forward P/E of 18.43.
It's also important to note that PERI currently trades at a PEG ratio of 0.29. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Internet - Content was holding an average PEG ratio of 1.51 at yesterday's closing price.
The Internet - Content industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 201, positioning it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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
