Perion Network Ltd. (PERI) looking to reclaim success with recent performance

Perion Network Ltd. (NASDAQ: PERI) stock jumped 10.12% on Friday to $21.44 against a previous-day closing price of $19.47. With 1.18 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.33 million shares. During the session, the Internet Content & Information company that operates in wider Communication Services sector, reached to the highest price of $22.11 whereas the lowest price it dropped to was $20.61. The 52-week range on PERI shows that it touched its highest point at $33.09 and its lowest point at $16.41 during that stretch. It currently has a 1-year price target of $31.46. Beta for the stock currently stands at 1.27.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PERI was up-trending over the past week, with a rise of 10.74%, but this was up by 14.59% over a month. Three-month performance dropped to 0.00% while six-month performance fell -0.88%. The stock gained 9.56% in the past year, while it has lost -10.85% so far this year. A look at the trailing 12-month EPS for PERI yields 1.24 with Next year EPS estimates of 1.63. For the next quarter, that number is 0.32. This implies an EPS growth rate of 188.20% for this year and 14.99% for next year.

Float and Shares Shorts:

At present, 44.04 million PERI shares are outstanding with a float of 39.95 million shares on hand for trading. On Jul 14, 2022, short shares totaled 0.83 million, which was 1.86% higher than short shares on Jun 14, 2022. In addition to Mr. Doron Gerstel as the firm’s CEO & Director, Mr. Maoz Sigron serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 45.27% of PERI’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 35.22% of PERI, in contrast to 17.31% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in PERI with 7.63% of the stake, Phoenix Provident Fund Ltd. holds 3,389,896 shares worth 3,389,896. A second-largest stockholder of PERI, Acadian Asset Management LLC, holds 1,704,203 shares, controlling over 3.84% of the firm’s shares. Private Capital Management LLC is the third largest shareholder in PERI, holding 1,630,540 shares or 3.67% stake. With a 1.85% stake in PERI, the Victory Trivalent International S is the largest stakeholder. A total of 820,092 shares are owned by the mutual fund manager. The Vanguard Total International Stoc, which owns about 1.12% of PERI stock, is the second-largest Mutual Fund holder. It holds 497,009 shares valued at 9.04 million. Government Pension Fund – Global holds 0.80% of the stake in PERI, owning 354,615 shares worth 6.45 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PERI since 6 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PERI analysts setting a high price target of $36.00 and a low target of $25.00, the average target price over the next 12 months is $30.50. Based on these targets, PERI could surge 67.91% to reach the target high and rise by 16.6% to reach the target low. Reaching the average price target will result in a growth of 42.26% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PERI will report FY 2022 earnings on 02/15/2023. Analysts have provided yearly estimates in a range of $1.77 being high and $1.70 being low. For PERI, this leads to a yearly average estimate of $1.74. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Perion Network Ltd. surprised analysts by $0.11 when it reported $0.44 EPS against a consensus estimate of $0.33. The surprise factor in the prior quarter was $0.14. Based on analyst estimates, the high estimate for the next quarter is $0.42 and the low estimate is $0.32. The average estimate for the next quarter is thus $0.39.

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