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

Equities analysts expect that Perion Network Ltd (NASDAQ:PERI) will post $52.90 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Perion Network’s earnings. The highest sales estimate is $53.00 million and the lowest is $52.80 million. Perion Network reported sales of $63.57 million during the same quarter last year, which indicates a negative year-over-year growth rate of 16.8%. The firm is scheduled to issue its next earnings report 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 fiscal year, analysts expect that the firm will report sales of $282.00 million. Zacks’ sales calculations are an average based on a survey of sell-side 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.15. The firm had revenue of $66.05 million for the quarter, compared to the consensus estimate of $65.30 million. Perion Network had a return on equity of 8.04% and a net margin of 4.75%.

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

Several hedge funds and other institutional investors have recently bought and sold shares of PERI. Sei Investments Co. bought a new position in shares of Perion Network in the fourth quarter worth about $67,000. Tower Research Capital LLC TRC bought a new position in shares of Perion Network in the fourth quarter worth about $54,000. Seizert Capital Partners LLC raised its stake in shares of Perion Network by 38.1% in the fourth quarter. Seizert Capital Partners LLC now owns 95,949 shares of the technology company’s stock worth $597,000 after buying an additional 26,476 shares during the period. Essex Investment Management Co. LLC raised its stake 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 worth $1,019,000 after buying an additional 5,792 shares during the period. Finally, Trexquant Investment LP bought a new position in shares of Perion Network in the fourth quarter worth about $84,000. 25.26% of the stock is currently owned by hedge funds and other institutional investors.

Perion Network has a 1-year low of $2.76 and a 1-year high of $9.70. The firm has a fifty day moving average price of $5.29 and a 200-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. The company has a market capitalization 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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