Wall Street brokerages expect Perion Network Ltd (NASDAQ:PERI) to post $74.15 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Perion Network’s earnings, with the highest sales estimate coming in at $74.30 million and the lowest estimate coming in at $74.00 million. Perion Network reported sales of $65.78 million in the same quarter last year, which indicates a positive year-over-year growth rate of 12.7%. The firm is expected to issue its next quarterly earnings report on Wednesday, November 4th.
On average, analysts expect that Perion Network will report full-year sales of $283.30 million for the current fiscal year. For the next fiscal year, analysts anticipate that the firm will post sales of $310.95 million, with estimates ranging from $310.90 million to $311.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Perion Network.
Perion Network (NASDAQ:PERI) last released its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.12. The firm had revenue of $60.34 million for the quarter, compared to the consensus estimate of $52.90 million. Perion Network had a return on equity of 6.79% and a net margin of 2.90%.
A number of brokerages recently commented on PERI. Taglich Brothers raised Perion Network from a “speculative buy” rating to a “buy” rating in a report on Wednesday, August 12th. Zacks Investment Research cut Perion Network from a “buy” rating to a “sell” rating in a report on Wednesday, August 12th. Finally, ValuEngine raised Perion Network from a “sell” rating to a “hold” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $7.58.
Shares of Perion Network stock opened at $6.28 on Thursday. Perion Network has a one year low of $3.43 and a one year high of $9.70. The stock’s fifty day moving average is $6.05 and its 200 day moving average is $5.58. The stock has a market cap of $167.85 million, a P/E ratio of 20.93, a P/E/G ratio of 98.50 and a beta of 0.95. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.08 and a current ratio of 1.08.
Large investors have recently bought and sold shares of the business. Private Capital Management LLC raised its position in shares of Perion Network by 1,776.2% in the first quarter. Private Capital Management LLC now owns 1,647,754 shares of the technology company’s stock worth $8,058,000 after acquiring an additional 1,559,929 shares during the period. EAM Global Investors LLC acquired a new position in shares of Perion Network in the first quarter worth about $2,070,000. Equitable Trust Co. raised its position in shares of Perion Network by 31.2% in the second quarter. Equitable Trust Co. now owns 159,424 shares of the technology company’s stock worth $834,000 after acquiring an additional 37,925 shares during the period. EAM Investors LLC acquired a new position in shares of Perion Network in the first quarter worth about $597,000. Finally, Two Sigma Advisers LP raised its position in shares of Perion Network by 170.0% in the first quarter. Two Sigma Advisers LP now owns 118,000 shares of the technology company’s stock worth $577,000 after acquiring an additional 74,300 shares during the period. 24.37% of the stock is currently owned by institutional investors and hedge funds.
About Perion Network
Perion Network Ltd. is a global technology company, which engages in the provision of advertising solutions to brands and publishers through innovative platforms. It is committed to providing data-driven execution, from high-impact ad formats to branded search and a unified social and mobile programmatic platform.
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