Perion Network Ltd (NASDAQ:PERI) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Perion Network Ltd (NASDAQ:PERI) have been assigned an average broker rating score of 2.00 (Buy) from the three analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. Perion Network’s rating score has improved by 20% from three months ago as a result of various analysts’ upgrades and downgrades.

Analysts have set a twelve-month consensus price target of $5.50 for the company and are expecting that the company will post $0.06 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Perion Network an industry rank of 92 out of 256 based on the ratings given to related companies.

A number of equities analysts have commented on the stock. 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 for the company. TheStreet cut shares of Perion Network from a “c” rating to a “d+” rating in a research note on Wednesday, July 17th. ValuEngine cut shares of Perion Network from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research cut shares of Perion Network from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd.

Shares of Perion Network stock opened at $5.25 on Thursday. The stock has a market cap of $135.46 million, a P/E ratio of 12.19, a P/E/G ratio of 2.73 and a beta of 1.04. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 1.31. Perion Network has a one year low of $2.47 and a one year high of $5.25. The stock’s fifty day moving average price is $3.76.

Perion Network (NASDAQ:PERI) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.08. The company had revenue of $63.57 million during the quarter, compared to the consensus estimate of $59.40 million. Perion Network had a net margin of 4.55% and a return on equity of 7.51%. As a group, equities analysts anticipate that Perion Network will post 0.32 EPS for the current year.

Several large investors have recently bought and sold shares of the company. Seizert Capital Partners LLC acquired a new position in shares of Perion Network during the 2nd quarter worth $316,000. Jane Street Group LLC grew its stake in Perion Network by 30.4% in the 4th quarter. Jane Street Group LLC now owns 47,182 shares of the technology company’s stock valued at $123,000 after acquiring an additional 10,991 shares during the last quarter. Wells Fargo & Company MN acquired a new stake in Perion Network in the 2nd quarter valued at about $58,000. Finally, Meitav Dash Investments Ltd. grew its stake in Perion Network by 30.3% in the 1st 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. 10.38% of the stock is currently owned by institutional investors and hedge funds.

About Perion Network

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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