Perion Network Ltd. (NASDAQ:PERI) has a beta value of 1.25 and has seen 13.1 million shares traded in the last trading session. The company, currently valued at $588.00M, closed the last trade at $12.50 per share which meant it lost -$8.61 on the day or -40.79% during that session. The PERI stock price is -242.0% off its 52-week high price of $42.75 and -68.16% below the 52-week low of $21.02. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.61 million shares traded. The 3-month trading volume is 531.78K shares.
Perion Network Ltd. (NASDAQ:PERI) trade information
Sporting -40.79% in the red in last session, the stock has traded in the red over the last five days, when the PERI stock price touched $12.50 or saw a rise of 43.26%. Year-to-date, Perion Network Ltd. shares have moved -59.51%, while the 5-day performance has seen it change -42.87%. Over the past 30 days, the shares of Perion Network Ltd. (NASDAQ:PERI) have changed -44.49%. Short interest in the company has seen 2.09 million shares shorted with days to cover at 4.21.
Perion Network Ltd. (PERI) estimates and forecasts
Figures show that Perion Network Ltd. shares have underperformed across the wider relevant industry. The company’s shares have lost -56.85% over the past 6 months, with this year growth rate of 0.30%, compared to 22.10% for the industry. Other than that, the company has, however, increased its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are -6.20% and 48.80% for the next quarter. Revenue growth from the last financial year stood is estimated to be 16.80%.
6 analysts offering their estimates for the company have set an average revenue estimate of $175.53 million for the current quarter. 6 have an estimated revenue figure of $205.13 million for the next quarter concluding in Jun 2024. Year-ago sales stood $145.15 million and $178.47 million respectively for this quarter and the next, and analysts expect sales will grow by 20.90% for the current quarter and 14.90% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 49.42% over the past 5 years. Earnings growth for 2024 is a modest -37.29% while over the next 5 years, the company’s earnings are expected to increase by 19.00%.
PERI Dividends
Perion Network Ltd. is expected to release its next earnings report on May 08 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Perion Network Ltd. (NASDAQ:PERI)’s Major holders
Insiders own 0.00% of the company shares, while shares held by institutions stand at 66.03% with a share float percentage of 66.03%. Investors are also buoyed by the number of investors in a company, with Perion Network Ltd. having a total of 244 institutions that hold shares in the company. The top two institutional holders are Clal Insurance Enterprises Holdings Ltd with over 2.32 million shares worth more than $71.2 million. As of Jun 29, 2023, Clal Insurance Enterprises Holdings Ltd held 5.03% of shares outstanding.
The other major institutional holder is Harel Insurance Investments & Financial Services Ltd., with the holding of over 2.03 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $62.18 million and represent 4.39% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Victory Portfolios-Victory Trivalent International Small Cap Fund and Vanguard International Stock Index-Total Intl Stock Indx. As of Jun 29, 2023, the former fund manager holds about 1.56% shares in the company for having 0.72 million shares of worth $22.05 million while later fund manager owns 0.56 million shares of worth $20.31 million as of Jul 30, 2023, which makes it owner of about 1.20% of company’s outstanding stock.
