Perion Network Ltd (NASDAQ:PERI)’s share price was down 5.5% during mid-day trading on Thursday . The stock traded as low as $6.07 and last traded at $6.38, approximately 805,598 shares traded hands during mid-day trading. An increase of 478% from the average daily volume of 139,378 shares. The stock had previously closed at $6.75.
Several research analysts have recently issued reports on PERI shares. ValuEngine downgraded Perion Network from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Zacks Investment Research raised Perion Network from a “hold” rating to a “strong-buy” rating and set a $6.25 price objective for the company in a research note on Saturday, August 17th. TheStreet raised Perion Network from a “d+” rating to a “c+” rating in a research note on Friday, August 9th. Finally, Lake Street Capital started coverage on Perion Network in a research note on Monday, July 8th. They issued a “buy” rating and a $6.00 price objective for the company.
The company has a 50 day moving average price of $4.52 and a 200-day moving average price of $3.37. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.23. The company has a market cap of $161.56 million, a price-to-earnings ratio of 20.58, a P/E/G ratio of 2.67 and a beta of 1.04.
Perion Network (NASDAQ:PERI) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.08. Perion Network had a return on equity of 7.51% and a net margin of 4.55%. The company had revenue of $63.57 million during the quarter, compared to the consensus estimate of $59.40 million. On average, analysts forecast that Perion Network Ltd will post 0.39 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in PERI. Meitav Dash Investments Ltd. boosted its holdings in Perion Network by 30.3% in the first quarter. Meitav Dash Investments Ltd. now owns 17,210 shares of the technology company’s stock valued at $47,000 after acquiring an additional 4,000 shares during the last quarter. Wells Fargo & Company MN bought a new stake in Perion Network in the second quarter valued at approximately $58,000. Seizert Capital Partners LLC bought a new stake in Perion Network in the second quarter valued at approximately $316,000. Essex Investment Management Co. LLC bought a new stake in Perion Network in the second quarter valued at approximately $567,000. Finally, Renaissance Technologies LLC boosted its holdings in Perion Network by 5.5% in the second quarter. Renaissance Technologies LLC now owns 1,274,659 shares of the technology company’s stock valued at $3,709,000 after acquiring an additional 66,340 shares during the last quarter. Institutional investors and hedge funds 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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