Perion Network Ltd (PERI) Given $6.75 Consensus Target Price by Analysts

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

Brokerages have set a 12 month consensus target price of $6.75 for the company and are anticipating 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 109 out of 255 based on the ratings given to related companies.

Several equities research analysts have issued reports on the stock. ValuEngine lowered shares of Perion Network from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Taglich Brothers reiterated a “speculative buy” rating on shares of Perion Network in a research report on Monday, August 13th.

Perion Network stock traded up $0.03 during mid-day trading on Friday, hitting $2.84. 27,758 shares of the company traded hands, compared to its average volume of 56,454. Perion Network has a one year low of $2.13 and a one year high of $4.05. The firm has a market cap of $77.80 million, a PE ratio of 4.51 and a beta of 1.40. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 1.25.

Perion Network (NASDAQ:PERI) last announced 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 during the quarter. As a group, research analysts anticipate that Perion Network will post 0.45 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its position in Perion Network by 11.6% during the second quarter. Renaissance Technologies LLC now owns 2,791,600 shares of the technology company’s stock valued at $3,266,000 after purchasing an additional 289,400 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Perion Network by 43.2% in the 2nd quarter. Acadian Asset Management LLC now owns 741,081 shares of the technology company’s stock worth $865,000 after acquiring an additional 223,473 shares during the last quarter. Finally, Essex Investment Management Co. LLC bought a new stake in shares of Perion Network in the 2nd quarter worth approximately $208,000. Institutional investors and hedge funds own 34.46% of the company’s stock.

Perion Network Company Profile

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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