Perion Network Ltd (NASDAQ:PERI) Expected to Announce Quarterly Sales of $52.90 Million

Analysts expect Perion Network Ltd (NASDAQ:PERI) to post $52.90 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Perion Network’s earnings, with the lowest sales estimate coming in at $52.80 million and the highest estimate coming in at $53.00 million. Perion Network posted sales of $63.57 million during the same quarter last year, which suggests a negative year-over-year growth rate of 16.8%. The company is expected to announce its next quarterly earnings results on Wednesday, August 5th.

On average, analysts expect that Perion Network will report full year sales of $255.82 million for the current financial year, with estimates ranging from $254.60 million to $257.03 million. For the next year, analysts anticipate that the firm will post sales of $282.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Perion Network.

Perion Network (NASDAQ:PERI) last announced its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.15. Perion Network had a net margin of 4.75% and a return on equity of 8.04%. The firm had revenue of $66.05 million during the quarter, compared to the consensus estimate of $65.30 million.

A number of research firms have recently issued reports on PERI. ValuEngine raised shares of Perion Network from a “strong sell” rating to a “sell” rating in a report on Thursday, April 2nd. Zacks Investment Research downgraded shares of Perion Network from a “buy” rating to a “hold” rating in a report on Thursday, March 26th. Finally, Lake Street Capital dropped their price objective on shares of Perion Network from $10.00 to $8.00 in a report on Thursday, May 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $6.67.

A number of institutional investors have recently bought and sold shares of the business. Private Capital Management LLC lifted its stake in Perion Network by 1,776.2% in the first quarter. Private Capital Management LLC now owns 1,647,754 shares of the technology company’s stock worth $8,058,000 after purchasing an additional 1,559,929 shares during the last quarter. EAM Global Investors LLC bought a new stake in Perion Network in the first quarter worth $2,070,000. Man Group plc bought a new stake in Perion Network in the fourth quarter worth $1,699,000. Essex Investment Management Co. LLC increased its position in shares of Perion Network by 3.7% in the fourth quarter. Essex Investment Management Co. LLC now owns 163,813 shares of the technology company’s stock valued at $1,019,000 after acquiring an additional 5,792 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Perion Network by 76.5% in the fourth quarter. Geode Capital Management LLC now owns 144,556 shares of the technology company’s stock valued at $898,000 after acquiring an additional 62,632 shares during the period. 25.26% of the stock is owned by institutional investors and hedge funds.

The firm has a 50 day moving average price of $5.29 and a two-hundred day moving average price of $6.14. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.09 and a current ratio of 1.09. Perion Network has a fifty-two week low of $2.76 and a fifty-two week high of $9.70. The company has a market cap of $143.79 million, a P/E ratio of 10.98, a price-to-earnings-growth ratio of 11.96 and a beta of 0.99.

About Perion Network

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.

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Earnings History and Estimates for Perion Network (NASDAQ:PERI)

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