A better buy-in window may exist right now for Perion Network Ltd. (PERI)

Perion Network Ltd. (NASDAQ: PERI) stock fell -4.66% on Tuesday to $30.30 against a previous-day closing price of $31.78. With 2.9 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.77 million shares. During the session, the Internet Content & Information company that operates in wider Communication Services sector, reached to the highest price of $31.60 whereas the lowest price it dropped to was $29.62. The 52-week range on PERI shows that it touched its highest point at $42.75 and its lowest point at $16.41 during that stretch. It currently has a 1-year price target of $38.81. 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 down-trending over the past week, with a drop of -7.57%, but this was down by -16.04% over a month. Three-month performance dropped to -9.36% while six-month performance rose 17.40%. The stock gained 56.19% in the past year, while it has gained 19.76% so far this year. A look at the trailing 12-month EPS for PERI yields 2.21 with Next year EPS estimates of 2.57. For the next quarter, that number is 0.51. This implies an EPS growth rate of 101.70% for this year and 5.46% for next year.

Float and Shares Shorts:

At present, 46.38 million PERI shares are outstanding with a float of 40.35 million shares on hand for trading. On Apr 27, 2023, short shares totaled 0.49 million, which was 1.06% higher than short shares on Mar 30, 2023. In addition to PERI as the firm’s Perion Network Ltd, VERI serves as its Veritone, Inc.

Institutional Ownership:

Through their ownership of 58.32% of PERI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 38.69% of PERI, in contrast to 23.49% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in PERI with 4.76% of the stake, Phoenix Provident Fund Ltd. holds 2,215,845 shares worth 2,215,845. A second-largest stockholder of PERI, Migdal Insurance Co. Ltd., holds 1,919,039 shares, controlling over 4.13% of the firm’s shares. Acadian Asset Management LLC is the third largest shareholder in PERI, holding 1,803,977 shares or 3.88% stake. With a 1.81% stake in PERI, the Victory Trivalent International S is the largest stakeholder. A total of 842,610 shares are owned by the mutual fund manager. The Government Pension Fund – Global, which owns about 1.55% of PERI stock, is the second-largest Mutual Fund holder. It holds 721,663 shares valued at 25.28 million. Vanguard Total International Stoc holds 1.12% of the stake in PERI, owning 522,426 shares worth 18.3 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, PERI reported revenue of $146.66M and operating income of $21.87M. The EBITDA in the recently reported quarter was $25.08M and diluted EPS was $0.33.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PERI since 0 analysts follow the stock currently. 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 $42.00 and a low target of $36.00, the average target price over the next 12 months is $40.17. Based on these targets, PERI could surge 38.61% to reach the target high and rise by 18.81% to reach the target low. Reaching the average price target will result in a growth of 32.57% 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.