Q1 2024 Earnings Estimate for Perion Network Ltd. Issued By Roth Capital (NASDAQ:PERI)

Perion Network Ltd. (NASDAQ:PERI) – Equities research analysts at Roth Capital lowered their Q1 2024 earnings per share (EPS) estimates for Perion Network in a report released on Tuesday, April 9th. Roth Capital analyst J. Martin now expects that the technology company will post earnings per share of $0.36 for the quarter, down from their previous forecast of $0.53. Roth Capital 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.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings results on Wednesday, February 7th. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.93 by $0.11. The company had revenue of $234.23 million during the quarter, compared to analysts’ expectations of $233.09 million. Perion Network had a net margin of 15.80% and a return on equity of 23.06%. Perion Network’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.84 EPS.

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

Perion Network Stock Down 0.6 %

Shares of Perion Network stock opened at $13.10 on Thursday. The business has a fifty day simple moving average of $22.57 and a 200 day simple moving average of $26.62. The stock has a market cap of $604.83 million, a PE ratio of 5.60, a price-to-earnings-growth ratio of 0.19 and a beta of 1.24. Perion Network has a 12 month low of $12.10 and a 12 month high of $42.75.

Institutional Investors Weigh In On Perion Network

Institutional investors have recently bought and sold shares of the company. Allworth Financial LP raised its holdings in shares of Perion Network by 0.8% in the fourth quarter. Allworth Financial LP now owns 60,676 shares of the technology company’s stock valued at $1,873,000 after purchasing an additional 464 shares during the last quarter. State Street Corp increased its stake in Perion Network by 1.8% in the 3rd quarter. State Street Corp now owns 27,138 shares of the technology company’s stock valued at $523,000 after buying an additional 480 shares during the last quarter. Blue Trust Inc. lifted its position in Perion Network by 42.3% during the 4th quarter. Blue Trust Inc. now owns 1,658 shares of the technology company’s stock worth $51,000 after buying an additional 493 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in Perion Network by 8.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,300 shares of the technology company’s stock worth $159,000 after buying an additional 500 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Perion Network by 13.2% during the 4th quarter. Royal Bank of Canada now owns 4,643 shares of the technology company’s stock worth $144,000 after buying an additional 541 shares during the last quarter. Institutional investors own 68.12% of the company’s stock.

About Perion Network

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.