Perion Network (NASDAQ:PERI) Raised to “Strong-Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Perion Network (NASDAQ:PERI) from a hold rating to a strong-buy rating in a research note published on Saturday, Zacks.com reports. Zacks Investment Research currently has $6.25 price objective on the technology company’s stock.

According to Zacks, “Perion Network Ltd. is a global technology company that delivers online advertising solutions and search monetization to brands and publishers. Perion is committed to providing data-driven execution, from high-impact ad formats to branded search and a unified social and mobile programmatic platform. The company’s largest divisions are Undertone and CodeFuel. Undertone’s synchronized digital branding solution delivers award-winning creative experiences through cohesive stories to the world’s leading brands across the most important touchpoints, screens, and platforms. CodeFuel’s search solution platform empowers publishers to create new revenue streams and unique search experience by bringing monetization to content and application developers. “

Several other equities research analysts also recently issued reports on the stock. ValuEngine downgraded shares of Perion Network from a hold rating to a sell rating in a research note on Thursday, August 1st. TheStreet upgraded shares of Perion Network from a d+ rating to a c+ rating in a research note on Friday, August 9th. Finally, Lake Street Capital initiated coverage on shares of Perion Network in a research note on Monday, July 8th. They issued a buy rating and a $6.00 price objective on the stock.

Shares of Perion Network stock opened at $6.25 on Friday. The company’s fifty day simple moving average is $4.31 and its 200-day simple moving average is $3.32. The company has a market cap of $142.18 million, a price-to-earnings ratio of 20.16, a PEG ratio of 2.78 and a beta of 1.04. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.23. Perion Network has a 1 year low of $2.47 and a 1 year high of $6.38.

Perion Network (NASDAQ:PERI) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.08. The business had revenue of $63.57 million for 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, research analysts forecast that Perion Network will post 0.39 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of PERI. Essex Investment Management Co. LLC acquired a new stake in Perion Network during the second quarter worth $567,000. Seizert Capital Partners LLC acquired a new stake in Perion Network during the second quarter worth $316,000. Renaissance Technologies LLC boosted its stake in 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 buying an additional 66,340 shares in the last quarter. Wells Fargo & Company MN acquired a new stake in Perion Network during the second quarter worth $58,000. Finally, Jane Street Group LLC boosted its stake in 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 in the last quarter. Hedge funds and other institutional investors own 11.13% of the company’s stock.

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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