Perion Network Ltd. to Post Q1 2024 Earnings of $0.36 Per Share, Roth Capital Forecasts (NASDAQ:PERI)

Perion Network Ltd. (NASDAQ:PERI) – Analysts at Roth Capital cut their Q1 2024 earnings per share estimates for Perion Network in a note issued to investors on Tuesday, April 9th. Roth Capital analyst J. Martin now anticipates that the technology company will post earnings of $0.36 per share for the quarter, down from their previous estimate of $0.53. Roth Capital currently has a “Neutral” rating on the stock. The consensus estimate for Perion Network’s current full-year earnings is $3.04 per share. Roth Capital also issued estimates for Perion Network’s Q2 2024 earnings at $0.22 EPS, Q3 2024 earnings at $0.33 EPS, Q4 2024 earnings at $0.50 EPS, FY2024 earnings at $1.43 EPS and FY2025 earnings at $1.58 EPS.

Other equities analysts also recently issued research reports about the stock. Roth Mkm reissued a “neutral” rating and issued a $13.00 price objective (down previously from $35.00) on shares of Perion Network in a research note on Tuesday. Needham & Company LLC dropped their target price on Perion Network from $35.00 to $18.00 and set a “buy” rating for the company in a research report on Monday. StockNews.com downgraded Perion Network from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Finally, Lake Street Capital reaffirmed a “hold” rating and issued a $16.00 price objective on shares of Perion Network in a research note on Monday. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $25.80.

Perion Network Trading Down 0.6 %

PERI stock opened at $13.10 on Thursday. The firm has a 50-day moving average price of $22.57 and a 200-day moving average price of $26.62. Perion Network has a 12 month low of $12.10 and a 12 month high of $42.75. The stock has a market capitalization of $604.83 million, a P/E ratio of 5.60, a price-to-earnings-growth ratio of 0.19 and a beta of 1.24.

Perion Network (NASDAQ:PERI) last issued its earnings results on Wednesday, February 7th. The technology company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. Perion Network had a return on equity of 23.06% and a net margin of 15.80%. The firm had revenue of $234.23 million for the quarter, compared to the consensus estimate of $233.09 million. During the same quarter last year, the business posted $0.84 EPS. The company’s revenue was up 11.7% compared to the same quarter last year.

Hedge Funds Weigh In On Perion Network

Institutional investors have recently modified their holdings of the business. Legal & General Group Plc purchased a new position in Perion Network in the third quarter valued at about $25,000. Naples Money Management LLC bought a new stake in Perion Network in the 4th quarter valued at about $29,000. Ronald Blue Trust Inc. lifted its holdings in Perion Network by 227.2% during the third quarter. Ronald Blue Trust Inc. now owns 1,165 shares of the technology company’s stock valued at $36,000 after purchasing an additional 809 shares during the last quarter. Principal Securities Inc. bought a new position in Perion Network during the fourth quarter worth about $49,000. Finally, Blue Trust Inc. increased its stake in shares of Perion Network by 42.3% in the fourth quarter. Blue Trust Inc. now owns 1,658 shares of the technology company’s stock worth $51,000 after purchasing an additional 493 shares in the last quarter. 68.12% of the stock is owned by institutional investors.

Perion Network Company Profile

Perion Network Ltd. provides digital advertising solutions to brands, agencies, and publishers in North America, Europe, and internationally. It provides Wildfire, a content monetization platform; search monetization solutions, including website monetization, search mediation, and app monetization; and cross-channel digital advertising software as a service platform.