Zacks: Analysts Expect Perion Network Ltd (NASDAQ:PERI) Will Announce Quarterly Sales of $65.00 Million
Wall Street analysts predict that Perion Network Ltd (NASDAQ:PERI) will post sales of $65.00 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Perion Network’s earnings. The highest sales estimate is $66.00 million and the lowest is $64.00 million. Perion Network posted sales of $57.18 million in the same quarter last year, which suggests a positive year-over-year growth rate of 13.7%. The business is scheduled to report its next quarterly earnings results on Thursday, November 7th.
According to Zacks, analysts expect that Perion Network will report full year sales of $258.16 million for the current financial year, with estimates ranging from $257.90 million to $258.42 million. For the next fiscal year, analysts forecast that the company will post sales of $267.95 million, with estimates ranging from $264.90 million to $271.00 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Perion Network.
Perion Network (NASDAQ:PERI) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.08. Perion Network had a return on equity of 7.51% and a net margin of 4.55%. The business had revenue of $63.57 million during the quarter, compared to analysts’ expectations of $59.40 million.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meitav Dash Investments Ltd. lifted its holdings in Perion Network by 30.3% in the 1st quarter. Meitav Dash Investments Ltd. now owns 17,210 shares of the technology company’s stock worth $47,000 after buying an additional 4,000 shares during the period. Wells Fargo & Company MN purchased a new stake in Perion Network in the 2nd quarter worth approximately $58,000. Seizert Capital Partners LLC bought a new position in shares of Perion Network in the 2nd quarter worth approximately $316,000. River & Mercantile Asset Management LLP bought a new position in shares of Perion Network in the 2nd quarter worth approximately $567,000. Finally, Renaissance Technologies LLC raised its position in shares of Perion Network by 5.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,274,659 shares of the technology company’s stock worth $3,709,000 after acquiring an additional 66,340 shares in the last quarter. Institutional investors and hedge funds own 12.62% of the company’s stock.
NASDAQ PERI traded down $0.05 on Thursday, hitting $4.65. The company’s stock had a trading volume of 278,738 shares, compared to its average volume of 404,226. Perion Network has a 52-week low of $2.47 and a 52-week high of $7.06. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.23. The company’s 50-day simple moving average is $5.59 and its 200 day simple moving average is $3.74. The firm has a market cap of $121.50 million, a P/E ratio of 10.93, a PEG ratio of 2.01 and a beta of 0.98.
Perion Network Company Profile
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.
Further Reading: What is the return on assets (ROA) ratio?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Perion Network Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perion Network and related companies with MarketBeat.com's FREE daily email newsletter.