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Perion Network Ltd. (NASDAQ: PERI) Stock Forecast: Could Pass $36.00 In A Year

The trading price of Perion Network Ltd. (NASDAQ:PERI) floating higher at last check on Wednesday, August 03, closing at $21.37, 9.76% higher than its previous close.

Traders who pay close attention to intraday price movement should know that it has been fluctuating between $18.80 and $19.54. The company’s P/E ratio in the trailing 12-month period was 15.77, while its 5Y monthly beta was 1.29. In examining the 52-week price action we see that the stock hit a 52-week high of $33.09 and a 52-week low of $16.41. Over the past month, the stock has gained 6.28% in value.

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Perion Network Ltd., whose market valuation is $894.06 million at the time of this writing, is expected to release its quarterly earnings report Feb 07, 2022 – Feb 11, 2022. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0.32 per share this quarter, however they have predicted annual earnings per share of $1.41 for 2022 and $1.63 for 2023. It means analysts are expecting annual earnings per share growth of 38.20% this year and 15.60% next year.

Analysts have forecast the company to bring in revenue of $146.33 million for the current quarter, with the likely lows of $145 million and highs of $147.59 million. The average estimate suggests sales will likely up by 33.40% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2022 is $627.95 million. The company’s revenue is forecast to grow by 31.20% over what it did in 2022.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Perion Network Ltd. No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest PERI has a 50% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently Hold.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned PERI a recommendation rating is 6. Out of them, 0 rate it a Hold, while 5 recommend Buy, whereas 1 assign an Overweight rating. 0 analyst(s) have tagged Perion Network Ltd. (PERI) as Underweight, while 0 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

A quick review shows that PERI’s price is currently 14.16% off the SMA20 and 13.34% off the SMA50. The RSI metric on the 14-day chart is currently showing 64.71, and weekly volatility stands at 4.75%. When measured over the past 30 days, the indicator reaches 4.11%. Perion Network Ltd. (NASDAQ:PERI)’s beta value is currently sitting at 1.27, while the Average True Range indicator is currently displaying 0.87. With analysts defining $25.00-$36.00 as the low and high price targets, we arrive at a consensus price target of $30.50 for the trailing 12-month period. The current price is about -16.99% off the estimated low and -68.46% off the forecast high, based on this estimate. Investors will be thrilled if PERI’s share price rises to $30.50, which is the median consensus price. At that level, PERI’s share price would be -42.72% below current price.

To see how Perion Network Ltd. stock has been performing today in comparison to its peers in the industry, here are the numbers: PERI stock’s performance was 9.76% at last check in today’s session, and 4.73% in the past year, while Alphabet Inc. (GOOGL) has been trading 2.28% in recent session and positioned -14.63% lower than it was a year ago. Furthermore, Microsoft Corporation (MSFT) showed an increase of 1.60% today while its price kept declining at -3.51% over the past year. Perion Network Ltd. has a P/E ratio of 15.77. Also during today’s trading, the S&P 500 Index has surged 1.07%, while the Dow Jones Industrial also saw a positive session, up 0.93% today.

An evaluation of the daily trading volume of Perion Network Ltd. (NASDAQ:PERI) indicates that the 3-month average is 333.06K. However, this figure has increased over the past 10 days to an average of 0.29 million.

Currently, records show that 44.04 million of the company’s shares remain outstanding. The insiders hold 36.50% of outstanding shares, whereas institutions hold 45.30%. The stats also highlight that short interest as of Jul 14, 2022, stood at 0.83 million shares, resulting in a short ratio of 2.6 at that time. From this, we can conclude that short interest is 1.86% of the company’s total outstanding shares. It is noteworthy that short shares in July were up slightly from the previous month’s figure, which was 0.45 million. However, since the stock’s price has seen -19.04% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.

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