Has Perion Network (PERI) Outpaced Other Computer and Technology Stocks This Year?
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Perion Network (PERI) one of those stocks right now? 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 one of 633 companies in the Computer and Technology group. The Computer and Technology group currently sits at #8 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. PERI is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for PERI's full-year earnings has moved 21.88% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, PERI has moved about 67.69% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 18.26%. This shows that Perion Network is outperforming its peers so far this year.
Looking more specifically, PERI belongs to the Internet - Content industry, a group that includes 19 individual stocks and currently sits at #75 in the Zacks Industry Rank. Stocks in this group have gained about 3.97% so far this year, so PERI is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to PERI as it looks to continue its solid performance.
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