Perion Network Ltd. (NASDAQ:PERI) Expected to Post Quarterly Sales of $146.50 Million

Wall Street analysts predict that Perion Network Ltd. (NASDAQ:PERI – Get Rating) will announce $146.50 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Perion Network’s earnings. The highest sales estimate is $147.59 million and the lowest is $145.00 million. Perion Network reported sales of $109.68 million in the same quarter last year, which would suggest a positive year over year growth rate of 33.6%. The firm is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Perion Network will report full-year sales of $630.11 million for the current fiscal year, with estimates ranging from $626.32 million to $635.20 million. For the next year, analysts forecast that the business will post sales of $734.06 million, with estimates ranging from $728.48 million to $742.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Perion Network.

Perion Network (NASDAQ:PERI – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The technology company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.11. Perion Network had a net margin of 9.90% and a return on equity of 13.67%. The business had revenue of $125.30 million for the quarter, compared to the consensus estimate of $122.02 million. The firm’s quarterly revenue was up 39.5% compared to the same quarter last year.

PERI has been the subject of several research reports. StockNews.com raised Perion Network from a “buy” rating to a “strong-buy” rating in a report on Thursday. Raymond James lowered their price objective on shares of Perion Network from $31.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday, February 10th. Zacks Investment Research upgraded shares of Perion Network from a “hold” rating to a “strong-buy” rating and set a $25.00 price target for the company in a report on Friday, May 6th. Finally, Oppenheimer reduced their price objective on shares of Perion Network from $35.00 to $30.00 in a research note on Thursday, February 10th. One research analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $30.00.

Perion Network stock opened at $19.42 on Friday. The company has a fifty day simple moving average of $22.26 and a 200 day simple moving average of $22.95. The company has a market cap of $848.60 million, a P/E ratio of 15.66, a price-to-earnings-growth ratio of 0.48 and a beta of 1.28. Perion Network has a 1-year low of $14.08 and a 1-year high of $33.09.

A number of institutional investors have recently added to or reduced their stakes in PERI. Renaissance Group LLC lifted its holdings in shares of Perion Network by 8.5% during the first quarter. Renaissance Group LLC now owns 47,605 shares of the technology company’s stock valued at $1,071,000 after purchasing an additional 3,726 shares in the last quarter. Quantedge Capital Pte Ltd purchased a new stake in shares of Perion Network in the first quarter worth $562,000. Vanguard Group Inc. lifted its position in shares of Perion Network by 38.3% in the first quarter. Vanguard Group Inc. now owns 1,186,776 shares of the technology company’s stock valued at $26,691,000 after acquiring an additional 328,422 shares in the last quarter. Sei Investments Co. purchased a new position in shares of Perion Network in the first quarter worth $302,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Perion Network by 30.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,329 shares of the technology company’s stock worth $1,064,000 after buying an additional 11,151 shares in the last quarter. 46.52% of the stock is currently owned by institutional investors and hedge funds.

Perion Network Company Profile (Get Rating)

Perion Network Ltd. provides digital advertising solutions to brands, agencies, and publishers in North America, Europe, and internationally. It provides Wildfire, a content monetization platform; search monetization solutions, including website monetization, search mediation, and app monetization; and cross-channel digital advertising software as a service platform.

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