Perion Network Ltd (NASDAQ:PERI) has been assigned a consensus broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and one has given a strong buy rating to the company. Perion Network’s rating score has improved by 20% in the last three months as a result of various analysts’ upgrades and downgrades.
Analysts have set a one year consensus price objective of $6.50 for the company and are anticipating that the company will post $0.09 earnings per share for the current quarter, according to Zacks. Zacks has also given Perion Network an industry rank of 144 out of 256 based on the ratings given to its competitors.
A number of equities analysts have recently issued reports on the company. TheStreet raised Perion Network from a “d+” rating to a “c+” rating in a research report on Friday, August 9th. Lake Street Capital assumed coverage on Perion Network in a research report on Monday, July 8th. They set a “buy” rating and a $6.00 price target on the stock. Zacks Investment Research raised Perion Network from a “hold” rating to a “strong-buy” rating and set a $6.25 price target on the stock in a research report on Saturday, August 17th. Finally, ValuEngine downgraded Perion Network from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st.
Institutional investors and hedge funds have recently bought and sold shares of the company. Meitav Dash Investments Ltd. grew its position in shares of Perion Network by 30.3% during the 1st quarter. Meitav Dash Investments Ltd. now owns 17,210 shares of the technology company’s stock worth $47,000 after buying an additional 4,000 shares in the last quarter. Wells Fargo & Company MN bought a new position in shares of Perion Network during the 2nd quarter worth $58,000. Seizert Capital Partners LLC bought a new position in shares of Perion Network during the 2nd quarter worth $316,000. River & Mercantile Asset Management LLP bought a new position in shares of Perion Network during the 2nd quarter worth $567,000. Finally, Renaissance Technologies LLC boosted its position in Perion Network by 5.5% during the second quarter. Renaissance Technologies LLC now owns 1,274,659 shares of the technology company’s stock valued at $3,709,000 after purchasing an additional 66,340 shares in the last quarter. 12.62% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:PERI traded down $0.10 during midday trading on Monday, hitting $4.98. 166,785 shares of the company traded hands, compared to its average volume of 505,481. The firm’s fifty day moving average is $5.56 and its 200-day moving average is $3.68. Perion Network has a 12-month low of $2.47 and a 12-month high of $7.06. The firm has a market capitalization of $137.52 million, a P/E ratio of 12.37, a P/E/G ratio of 2.27 and a beta of 0.98. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.23.
Perion Network (NASDAQ:PERI) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.08. The company had revenue of $63.57 million for the quarter, compared to the consensus estimate of $59.40 million. Perion Network had a return on equity of 7.51% and a net margin of 4.55%. On average, research analysts expect that Perion Network will post 0.39 EPS for the current fiscal year.
About Perion Network
Perion Network Ltd. is a global technology company, which engages in the provision of advertising solutions to brands and publishers through innovative platforms. It is committed to providing data-driven execution, from high-impact ad formats to branded search and a unified social and mobile programmatic platform.
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