$0.41 earnings per share expected for Perion Network Ltd. (NASDAQ:PERI) this quarter


Wall Street analysts expect Perion Network Ltd. (NASDAQ:PERI – Get Rating) reported earnings of $0.41 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have released earnings estimates for Perion Network, with the highest EPS estimate at $0.42 and the lowest estimate at $0.40. Perion Network reported earnings of $0.19 per share in the same quarter last year, indicating a positive year-over-year growth rate of 115.8%. The company is due to announce its next results on Monday, January 1.

On average, analysts expect Perion Network to report annual earnings of $1.77 per share for the current fiscal year, with EPS estimates ranging from $1.75 to $1.79. For the next fiscal year, analysts expect the company to report earnings of $1.93 per share, with EPS estimates ranging from $1.87 to $1.98. Zacks EPS averages are an average based on a survey of analysts who cover Perion Network.

Perion Network (NASDAQ:PERI – Get Rating) last released its results on Thursday, April 28. The technology company reported EPS of $0.33 for the quarter, beating the consensus estimate of $0.20 by $0.13. Perion Network achieved a net margin of 9.90% and a return on equity of 13.67%. The company posted revenue of $125.30 million in the quarter, compared to $122.02 million expected by analysts. The company’s revenue for the quarter increased 39.5% year over year.

Several research companies have recently published reports on PERI. StockNews.com moved Perion Network’s shares from a “strong buy” rating to a “buy” rating in a Friday, May 20, report. Needham & Company LLC began covering Perion Network shares in a report on Friday. They issued a “buy” rating and a price target of $32.00 for the company. Oppenheimer cut his price target on Perion Network shares from $35.00 to $30.00 in a Thursday, Feb. 10 report. Zacks Investment Research upgraded shares of Perion Network from a “hold” rating to a “strong-buy” rating and set a price target of $25.00 for the company in a Friday, May 6 report. Finally, Raymond James cut his price target on Perion Network shares from $31.00 to $29.00 and set an “outperform” rating for the company in a Thursday, Feb. 10 report. One equity research analyst gave the stock a hold rating, six gave the company a buy rating and one gave the company a high buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $30.00.

NASDAQ PERI opened at $20.31 on Thursday. Perion Network has a 52-week low of $15.76 and a 52-week high of $33.09. The stock has a market cap of $902.17 million, a price-to-earnings ratio of 16.38, a growth price-to-earnings ratio of 0.52, and a beta of 1.29. The company has a 50-day moving average price of $21.69 and a two-hundred-day moving average price of $21.93.

A number of large investors have recently shifted their PERI holdings. Clal Insurance Enterprises Holdings Ltd increased its stake in Perion Network by 861.2% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,201,450 shares of the tech company worth $28,895,000 after buying an additional 1,076,450 shares last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Perion Network during the fourth quarter valued at approximately $24,772,000. Vanguard Group Inc. increased its stake in Perion Network by 38.3% during the first quarter. Vanguard Group Inc. now owns 1,186,776 shares of the technology company worth $26,691,000 after buying an additional 328,422 shares last quarter. Acadian Asset Management LLC increased its position in Perion Network shares by 20.2% in the first quarter. Acadian Asset Management LLC now owns 1,704,203 shares of the technology company valued at $38,307,000 after acquiring an additional 286,940 shares last quarter. Finally, Victory Capital Management Inc. increased its position in Perion Network shares by 25.0% in the fourth quarter. Victory Capital Management Inc. now owns 1,188,836 shares of the technology company valued at $28,591,000 after acquiring an additional 237,824 shares last quarter. Hedge funds and other institutional investors hold 46.52% of the company’s shares.

Perion Network Company Profile (Get a 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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