Perion Network Ltd. (NASDAQ: PERI) stock jumped 1.80% on Monday to $30.51 against a previous-day closing price of $29.97. With 0.7 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.64 million shares. During the session, the Internet Content & Information company that operates in wider Communication Services sector, reached to the highest price of $31.24 whereas the lowest price it dropped to was $30.33. The 52-week range on PERI shows that it touched its highest point at $42.75 and its lowest point at $18.81 during that stretch. It currently has a 1-year price target of $41.80. Beta for the stock currently stands at 1.28.
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 -10.76%, but this was down by -5.63% over a month. Three-month performance dropped to -9.30% while six-month performance fell -14.06%. The stock gained 36.94% in the past year, while it has gained 20.59% so far this year. A look at the trailing 12-month EPS for PERI yields 2.23 with Next year EPS estimates of 2.75. For the next quarter, that number is 0.65. This implies an EPS growth rate of 101.70% for this year and 14.99% for next year.
Float and Shares Shorts:
At present, 47.02 million PERI shares are outstanding with a float of 46.78 million shares on hand for trading. On Aug 30, 2023, short shares totaled 1.32 million, which was 2.81% higher than short shares on Jul 30, 2023. In addition to Mr. Tal Jacobson as the firm’s Chief Exec. Officer, Mr. Maoz Sigron serves as its Chief Financial Officer.
Through their ownership of 58.92% of PERI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 46.94% of PERI, in contrast to 22.48% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in PERI with 4.99% of the stake, Clal Pension & Provident Funds Lt holds 2,321,441 shares worth 2,321,441. A second-largest stockholder of PERI, Phoenix Provident Fund Ltd., holds 2,215,845 shares, controlling over 4.76% of the firm’s shares. Harel Mutual Funds Ltd. is the third largest shareholder in PERI, holding 2,027,550 shares or 4.36% stake. With a 1.55% stake in PERI, the Government Pension Fund – Global is the largest stakeholder. A total of 721,663 shares are owned by the mutual fund manager. The Victory Trivalent International S, which owns about 1.55% of PERI stock, is the second-largest Mutual Fund holder. It holds 719,071 shares valued at 23.87 million. Vanguard Total International Stoc holds 1.19% of the stake in PERI, owning 552,866 shares worth 18.35 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 Jun 29, 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 $0.41.
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 $45.00 and a low target of $38.00, the average target price over the next 12 months is $41.80. Based on these targets, PERI could surge 47.49% to reach the target high and rise by 24.55% to reach the target low. Reaching the average price target will result in a growth of 37.0% 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.