Perion Network Ltd (NASDAQ:PERI) shares traded up 11% during trading on Monday . The company traded as high as $6.38 and last traded at $6.25, 1,051,635 shares were traded during trading. An increase of 746% from the average session volume of 124,285 shares. The stock had previously closed at $5.63.
A number of analysts have commented on the stock. ValuEngine lowered shares of Perion Network from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. TheStreet raised shares of Perion Network from a “d+” rating to a “c+” rating in a report on Friday, August 9th. Lake Street Capital assumed coverage on shares of Perion Network in a report on Monday, July 8th. They set a “buy” rating and a $6.00 target price for the company. Finally, Zacks Investment Research raised shares of Perion Network from a “hold” rating to a “strong-buy” rating and set a $6.25 target price for the company in a report on Saturday.
The business’s fifty day simple moving average is $4.31 and its 200 day simple moving average is $3.32. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.23. The stock has a market cap of $142.18 million, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 2.78 and a beta of 1.04.
Perion Network (NASDAQ:PERI) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.08. Perion Network had a net margin of 4.55% and a return on equity of 7.51%. The company had revenue of $63.57 million during the quarter, compared to analyst estimates of $59.40 million. As a group, research analysts anticipate that Perion Network Ltd will post 0.39 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the business. Meitav Dash Investments Ltd. raised its position in shares of Perion Network by 30.3% during the first quarter. Meitav Dash Investments Ltd. now owns 17,210 shares of the technology company’s stock worth $47,000 after purchasing an additional 4,000 shares during the period. Jane Street Group LLC grew its position in shares of Perion Network by 30.4% in the 4th quarter. Jane Street Group LLC now owns 47,182 shares of the technology company’s stock valued at $123,000 after purchasing an additional 10,991 shares during the period. Essex Investment Management Co. LLC acquired a new position in shares of Perion Network in the 2nd quarter valued at approximately $567,000. Renaissance Technologies LLC increased its stake in Perion Network by 5.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,274,659 shares of the technology company’s stock worth $3,709,000 after purchasing an additional 66,340 shares in the last quarter. Finally, Wells Fargo & Company MN bought a new stake in Perion Network during the 2nd quarter worth approximately $58,000. Hedge funds and other institutional investors own 11.13% of the company’s stock.
Perion Network Company Profile (NASDAQ:PERI)
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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