Analysts Expect Perion Network Ltd. (NASDAQ:PERI) Will Announce Earnings of $0.41 Per Share

Wall Street brokerages forecast that Perion Network Ltd. (NASDAQ:PERI – Get Rating) will announce earnings of $0.41 per share for the current quarter, Zacks reports. Four analysts have provided estimates for Perion Network’s earnings. The lowest EPS estimate is $0.40 and the highest is $0.42. Perion Network posted earnings per share of $0.19 during the same quarter last year, which would suggest a positive year-over-year growth rate of 115.8%. The firm is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Perion Network will report full-year earnings of $1.77 per share for the current fiscal year, with EPS estimates ranging from $1.75 to $1.79. For the next year, analysts forecast that the company will report earnings of $1.93 per share, with EPS estimates ranging from $1.87 to $1.98. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms 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 $0.33 EPS for the quarter, topping the consensus estimate of $0.20 by $0.13. 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 analysts’ expectations of $122.02 million. The business’s revenue was up 39.5% on a year-over-year basis.

Several analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Perion Network from a “hold” rating to a “strong-buy” rating and set a $25.00 target price on the stock in a research report on Friday, May 6th. StockNews.com lowered Perion Network from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 20th. Oppenheimer decreased their price target on Perion Network from $35.00 to $30.00 in a report on Thursday, February 10th. Finally, Raymond James cut their target price on Perion Network from $31.00 to $29.00 and set an “outperform” rating on the stock in a research note on Thursday, February 10th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Perion Network has a consensus rating of “Buy” and a consensus target price of $30.00.

NASDAQ PERI traded up $0.60 during trading on Thursday, hitting $20.81. 21,641 shares of the stock traded hands, compared to its average volume of 387,321. The company has a market capitalization of $924.38 million, a P/E ratio of 16.72, a price-to-earnings-growth ratio of 0.50 and a beta of 1.29. Perion Network has a 12-month low of $15.31 and a 12-month high of $33.09. The firm has a 50-day simple moving average of $21.76 and a 200-day simple moving average of $22.08.

Several large investors have recently made changes to their positions in PERI. Wells Fargo & Company MN boosted its holdings in shares of Perion Network by 62.7% in the 2nd quarter. Wells Fargo & Company MN now owns 10,735 shares of the technology company’s stock valued at $230,000 after buying an additional 4,135 shares in the last quarter. Morgan Stanley lifted its position in Perion Network by 22.2% during the second quarter. Morgan Stanley now owns 350,926 shares of the technology company’s stock valued at $7,517,000 after acquiring an additional 63,753 shares during the last quarter. BlackRock Inc. purchased a new position in Perion Network in the third quarter worth $165,000. Barclays PLC increased its position in shares of Perion Network by 18.7% during the third quarter. Barclays PLC now owns 10,395 shares of the technology company’s stock worth $180,000 after purchasing an additional 1,634 shares in the last quarter. Finally, Citigroup Inc. purchased a new stake in shares of Perion Network during the 3rd quarter valued at $204,000. Institutional investors and hedge funds own 46.52% of the company’s stock.

About Perion Network (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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