Brokerages Expect Perion Network Ltd (NASDAQ:PERI) to Post $0.06 Earnings Per Share

Shares of Perion Network Ltd (NASDAQ:PERI) have been assigned a consensus broker rating score of 2.00 (Buy) from the three analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. Perion Network’s rating score has improved by 20% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.

Brokerages have set a 12-month consensus price objective of $6.50 for the company and are forecasting that the company will post $0.06 EPS for the current quarter, according to Zacks. Zacks has also assigned Perion Network an industry rank of 113 out of 256 based on the ratings given to related companies.

Several research analysts have recently commented on PERI shares. Lake Street Capital started coverage on Perion Network in a research note on Monday, July 8th. They issued a “buy” rating and a $6.00 price objective on the stock. TheStreet raised Perion Network from a “d+” rating to a “c+” rating in a research note on Friday, August 9th. Zacks Investment Research downgraded Perion Network from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, ValuEngine downgraded Perion Network from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st.

Shares of PERI traded up $0.02 during midday trading on Thursday, hitting $5.50. 243,578 shares of the company traded hands, compared to its average volume of 117,022. The firm has a market cap of $139.85 million, a price-to-earnings ratio of 17.74, a P/E/G ratio of 2.82 and a beta of 1.04. The stock’s 50-day moving average is $4.02. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.31 and a current ratio of 1.31. Perion Network has a one year low of $2.47 and a one year high of $5.86.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.08. The firm had revenue of $63.57 million during the quarter, compared to the consensus estimate of $59.40 million. Perion Network had a return on equity of 7.51% and a net margin of 4.55%. On average, equities research analysts predict that Perion Network will post 0.32 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC raised its stake in shares of Perion Network by 30.4% during the fourth quarter. Jane Street Group LLC now owns 47,182 shares of the technology company’s stock worth $123,000 after buying an additional 10,991 shares during the last quarter. Meitav Dash Investments Ltd. boosted its holdings in shares of Perion Network by 30.3% in the first quarter. Meitav Dash Investments Ltd. now owns 17,210 shares of the technology company’s stock valued at $47,000 after buying an additional 4,000 shares during the period. Seizert Capital Partners LLC acquired a new position in Perion Network during the second quarter worth $316,000. Wells Fargo & Company MN acquired a new position in Perion Network during the second quarter worth $58,000. Finally, Renaissance Technologies LLC lifted its stake in Perion Network by 5.5% in the second quarter. Renaissance Technologies LLC now owns 1,274,659 shares of the technology company’s stock valued at $3,709,000 after acquiring an additional 66,340 shares during the last quarter. 10.88% of the stock is currently owned by institutional investors.

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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