Perion Network (NASDAQ:PERI) Trading Up 5.1%

Share on StockTwits

Shares of Perion Network Ltd (NASDAQ:PERI) were up 5.1% during mid-day trading on Tuesday . The stock traded as high as $9.05 and last traded at $8.72, approximately 716,900 shares changed hands during mid-day trading. An increase of 6% from the average daily volume of 675,372 shares. The stock had previously closed at $8.30.

Several equities analysts recently issued reports on PERI shares. Taglich Brothers restated a “speculative buy” rating on shares of Perion Network in a report on Friday, November 8th. Lake Street Capital upped their price objective on shares of Perion Network from $7.00 to $8.00 and gave the company a “buy” rating in a report on Monday, January 6th. Sidoti upped their price objective on shares of Perion Network from $7.00 to $8.00 and gave the company a “not rated” rating in a report on Monday, January 6th. ValuEngine lowered shares of Perion Network from a “sell” rating to a “strong sell” rating in a report on Thursday, September 26th. Finally, Zacks Investment Research upgraded shares of Perion Network from a “hold” rating to a “strong-buy” rating and set a $9.00 price objective on the stock in a report on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $8.33.

The firm’s fifty day moving average price is $6.20 and its two-hundred day moving average price is $5.22. The stock has a market cap of $228.73 million, a price-to-earnings ratio of 28.13, a price-to-earnings-growth ratio of 2.56 and a beta of 0.95. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.34 and a quick ratio of 1.34.

Perion Network (NASDAQ:PERI) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. Perion Network had a net margin of 4.66% and a return on equity of 7.78%. The firm had revenue of $65.78 million for the quarter, compared to analyst estimates of $65.00 million. On average, equities research analysts anticipate that Perion Network Ltd will post 0.43 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in PERI. Barclays PLC increased its position in shares of Perion Network by 14,445.5% during the third quarter. Barclays PLC now owns 16,000 shares of the technology company’s stock worth $78,000 after acquiring an additional 15,890 shares in the last quarter. Systematic Financial Management LP bought a new stake in shares of Perion Network during the third quarter worth about $552,000. State of Tennessee Treasury Department increased its position in shares of Perion Network by 491.2% during the third quarter. State of Tennessee Treasury Department now owns 62,798 shares of the technology company’s stock worth $307,000 after acquiring an additional 52,175 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new stake in shares of Perion Network during the third quarter worth about $115,000. Finally, River & Mercantile Asset Management LLP bought a new stake in shares of Perion Network during the second quarter worth about $567,000. Hedge funds and other institutional investors own 17.51% of the company’s stock.

About Perion Network (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.

Featured Article: Cost of Goods Sold (COGS)

Receive News & Ratings for Perion Network Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perion Network and related companies with MarketBeat.com's FREE daily email newsletter.