Zacks: Perion Network Ltd (PERI) Receives Average Rating of “Hold” from Brokerages

Perion Network Ltd (NASDAQ:PERI) has been assigned an average broker rating score of 2.50 (Hold) from the two brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has given a buy recommendation to the company. Perion Network’s rating score has improved by 16.7% in the last three months as a result of a number of analysts’ ratings changes.

Brokers have set a twelve-month consensus price target of $6.75 for the company and are predicting that the company will post $0.15 earnings per share for the current quarter, according to Zacks. Zacks has also given Perion Network an industry rank of 181 out of 255 based on the ratings given to related companies.

PERI has been the topic of a number of analyst reports. Taglich Brothers initiated coverage on shares of Perion Network in a report on Tuesday, August 14th. They set a “buy” rating and a $0.75 target price on the stock. ValuEngine cut shares of Perion Network from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd.

Perion Network stock opened at $3.01 on Friday. Perion Network has a 12 month low of $2.13 and a 12 month high of $4.05. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $77.80 million, a P/E ratio of 4.78 and a beta of 1.40.

Perion Network (NASDAQ:PERI) last issued its earnings results on Thursday, August 9th. The technology company reported $0.18 earnings per share (EPS) for the quarter. Perion Network had a negative net margin of 12.64% and a positive return on equity of 11.97%. The business had revenue of $62.80 million for the quarter. On average, analysts predict that Perion Network will post 0.45 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. Essex Investment Management Co. LLC bought a new stake in Perion Network during the 2nd quarter valued at $208,000. Acadian Asset Management LLC increased its holdings in shares of Perion Network by 43.2% in the second quarter. Acadian Asset Management LLC now owns 741,081 shares of the technology company’s stock worth $865,000 after purchasing an additional 223,473 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Perion Network by 11.6% in the second quarter. Renaissance Technologies LLC now owns 2,791,600 shares of the technology company’s stock worth $3,266,000 after purchasing an additional 289,400 shares during the period. 34.46% of the stock is currently owned by institutional investors and hedge funds.

About Perion Network

Perion Network Ltd., a technology company, delivers advertising solutions to brands, agencies, and publishers in North America, Europe, and internationally. The company develops digital advertising solutions to capture consumer attention and drive engagement, as well as delivers ads across a portfolio of Websites and mobile applications.

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