Brokerages Anticipate Perion Network Ltd (NASDAQ:PERI) Will Post Quarterly Sales of $52.90 Million

Brokerages forecast that Perion Network Ltd (NASDAQ:PERI) will report sales of $52.90 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Perion Network’s earnings. The lowest sales estimate is $52.80 million and the highest is $53.00 million. Perion Network posted sales of $63.57 million during the same quarter last year, which would indicate a negative year over year growth rate of 16.8%. The firm is scheduled 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 fiscal year, with estimates ranging from $254.60 million to $257.03 million. For the next fiscal year, analysts forecast that the business will post sales of $282.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Perion Network.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.15. The business had revenue of $66.05 million during the quarter, compared to analysts’ expectations 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 firms recently weighed in on PERI. Zacks Investment Research cut Perion Network from a “buy” rating to a “hold” rating in a report on Thursday, March 26th. ValuEngine raised Perion Network from a “strong sell” rating to a “sell” rating in a report on Thursday, April 2nd. Finally, Lake Street Capital reduced their price target on Perion Network from $10.00 to $8.00 in a report on Thursday, May 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Perion Network has a consensus rating of “Hold” and an average target price of $6.67.

Institutional investors have recently made changes to their positions in the business. Marshall Wace LLP acquired a new position in shares of Perion Network during the fourth quarter valued at approximately $40,000. UBS Group AG acquired a new position in shares of Perion Network during the fourth quarter valued at approximately $40,000. Ladenburg Thalmann Financial Services Inc. acquired a new position in shares of Perion Network during the fourth quarter valued at approximately $41,000. Tower Research Capital LLC TRC acquired a new position in shares of Perion Network during the fourth quarter valued at approximately $54,000. Finally, Sei Investments Co. acquired a new position in shares of Perion Network during the fourth quarter valued at approximately $67,000. 25.26% of the stock is owned by institutional investors and hedge funds.

The firm has a market cap of $143.79 million, a PE ratio of 10.98, a PEG ratio of 11.96 and a beta of 0.99. The company has a 50-day moving average of $5.29 and a 200-day moving average of $6.14. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.04. Perion Network has a fifty-two week low of $2.76 and a fifty-two week high of $9.70.

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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