Perion Network (NASDAQ:PERI) was upgraded by equities researchers at TheStreet from a “d+” rating to a “c+” rating in a research report issued to clients and investors on Friday, TheStreetRatingsTable reports.
Several other brokerages have also issued reports on PERI. Zacks Investment Research lowered shares of Perion Network from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Lake Street Capital assumed coverage on shares of Perion Network in a research report on Monday, July 8th. They set a “buy” rating and a $6.00 price objective on the stock. Finally, ValuEngine downgraded shares of Perion Network from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $5.42.
Shares of Perion Network stock opened at $5.41 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.31 and a current ratio of 1.31. The stock has a 50-day simple moving average of $3.91. The company has a market cap of $135.71 million, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 2.73 and a beta of 1.04. Perion Network has a 1 year low of $2.47 and a 1 year high of $5.63.
Perion Network (NASDAQ:PERI) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.08. The company had revenue of $63.57 million during the quarter, compared to analyst estimates of $59.40 million. Perion Network had a net margin of 4.55% and a return on equity of 7.51%. Equities analysts anticipate that Perion Network will post 0.32 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in PERI. Meitav Dash Investments Ltd. grew its position in Perion Network by 30.3% during the 1st quarter. Meitav Dash Investments Ltd. now owns 17,210 shares of the technology company’s stock valued at $47,000 after purchasing an additional 4,000 shares during the last quarter. Wells Fargo & Company MN purchased a new stake in Perion Network during the 2nd quarter valued at about $58,000. Jane Street Group LLC grew its position in Perion Network by 30.4% during 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 last quarter. Seizert Capital Partners LLC purchased a new stake in Perion Network during the 2nd quarter valued at about $316,000. Finally, Renaissance Technologies LLC grew its position 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 valued at $3,709,000 after purchasing an additional 66,340 shares during the last quarter. 10.88% of the stock is currently owned by institutional investors.
Perion Network Company Profile
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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