Shares of Perion Network Ltd. (NASDAQ:PERI) have received an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.
Brokerages have set a 1-year consensus price objective of $4.00 for the company, according to Zacks. Zacks has also given Perion Network an industry rank of 62 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research upgraded Perion Network from a “sell” rating to a “hold” rating in a report on Wednesday, June 15th.
Hedge funds have recently made changes to their positions in the company. Menta Capital LLC raised its stake in shares of Perion Network by 19.7% in the first quarter. Menta Capital LLC now owns 100,529 shares of the company’s stock valued at $202,000 after buying an additional 16,540 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Perion Network during the second quarter valued at about $982,000. Finally, GHP Investment Advisors Inc. raised its stake in shares of Perion Network by 12.7% in the second quarter. GHP Investment Advisors Inc. now owns 95,611 shares of the company’s stock valued at $114,000 after buying an additional 10,750 shares in the last quarter. Institutional investors and hedge funds own 15.70% of the company’s stock.
Shares of Perion Network (NASDAQ:PERI) traded up 2.59% on Monday, reaching $1.19. The company had a trading volume of 10,709 shares. Perion Network has a 52-week low of $1.01 and a 52-week high of $3.94. The company has a 50-day moving average price of $1.26 and a 200-day moving average price of $1.39. The firm’s market capitalization is $90.83 million.
Perion Network (NASDAQ:PERI) last issued its earnings results on Wednesday, August 3rd. The company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by $0.01. The business earned $78 million during the quarter, compared to analyst estimates of $74.20 million. Perion Network had a positive return on equity of 10.09% and a negative net margin of 33.80%. The business’s quarterly revenue was up 60.6% on a year-over-year basis. During the same period last year, the business earned $0.13 EPS. Equities research analysts forecast that Perion Network will post $0.37 EPS for the current fiscal year.
About Perion Network
Perion Network Ltd. is a global technology company. It is engaged in delivering advertising solutions to brands and publishers. It operates through High Impact Advertising solutions segment. It provides execution, ranging from high-impact advertisement formats to branded search, and a unified social and mobile programmatic platform.
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