Zacks: Perion Network Ltd (NASDAQ:PERI) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Perion Network Ltd (NASDAQ:PERI) have received an average broker rating score of 2.00 (Buy) from the two analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.

Brokerages have set a one year consensus price target of $6.50 for the company and are expecting that the company will post $0.13 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Perion Network an industry rank of 84 out of 255 based on the ratings given to its competitors.

A number of research analysts have commented on the company. TheStreet upgraded Perion Network from a “d+” rating to a “c+” rating in a research note on Friday, August 9th. ValuEngine cut Perion Network from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 26th. Finally, Zacks Investment Research cut Perion Network from a “buy” rating to a “hold” rating in a research note on Thursday.

Several institutional investors and hedge funds have recently modified their holdings of PERI. River & Mercantile Asset Management LLP acquired a new position in shares of Perion Network during the second quarter worth about $567,000. Systematic Financial Management LP acquired a new position in shares of Perion Network during the third quarter worth about $552,000. Seizert Capital Partners LLC acquired a new position in shares of Perion Network during the second quarter worth about $316,000. Renaissance Technologies LLC lifted its stake in shares of Perion Network by 5.5% during the second 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, State of Tennessee Treasury Department lifted its stake in shares of Perion Network by 491.2% in 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. Institutional investors own 12.56% of the company’s stock.

PERI stock traded up $0.21 during trading on Friday, reaching $5.29. 231,864 shares of the stock traded hands, compared to its average volume of 184,741. The business’s 50 day moving average price is $4.99 and its 200-day moving average price is $4.27. Perion Network has a 52-week low of $2.47 and a 52-week high of $7.06. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.31 and a quick ratio of 1.31. The firm has a market capitalization of $149.93 million, a PE ratio of 17.06, a P/E/G ratio of 2.48 and a beta of 0.93.

Perion Network (NASDAQ:PERI) last posted its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.02. Perion Network had a return on equity of 7.51% and a net margin of 4.55%. The firm had revenue of $65.78 million during the quarter, compared to the consensus estimate of $65.00 million. On average, equities research analysts predict that Perion Network will post 0.39 earnings per share for the current year.

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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