Investors focused on the Computer and Technology space have likely heard of Perion Network (PERI – Free Report) , but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock’s year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Perion Network is a member of our Computer and Technology group, which includes 632 different companies and currently sits at #7 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. PERI is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for PERI’s full-year earnings has moved 18.89% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.
Based on the latest available data, PERI has gained about 6.60% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 1.21% on average. This means that Perion Network is performing better than its sector in terms of year-to-date returns.
Breaking things down more, PERI is a member of the Internet – Content industry, which includes 17 individual companies and currently sits at #116 in the Zacks Industry Rank. On average, this group has gained an average of 11.74% so far this year, meaning that PERI is slightly underperforming its industry in terms of year-to-date returns.
PERI will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.