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.
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.
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.
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.