Zacks: Perion Network Ltd (NASDAQ:PERI) Given Average Rating of “Buy” by Brokerages

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Perion Network Ltd (NASDAQ:PERI) has earned a consensus broker rating score of 2.00 (Buy) 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 strong buy rating to the company.

Brokerages have set a 1-year consensus price target of $6.50 for the company and are anticipating that the company will post $0.09 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Perion Network an industry rank of 91 out of 255 based on the ratings given to related companies.

PERI has been the subject of several analyst reports. ValuEngine lowered shares of Perion Network from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 26th. Lake Street Capital initiated coverage on shares of Perion Network in a research report on Monday, July 8th. They set a “buy” rating and a $6.00 price target for the company. Zacks Investment Research upgraded shares of Perion Network from a “hold” rating to a “strong-buy” rating and set a $6.25 price target for the company in a research report on Saturday, August 17th. Finally, TheStreet upgraded shares of Perion Network from a “d+” rating to a “c+” rating in a research report on Friday, August 9th.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN purchased a new stake in Perion Network during the second quarter valued at about $58,000. Seizert Capital Partners LLC purchased a new stake in Perion Network during the second quarter valued at about $316,000. River & Mercantile Asset Management LLP purchased a new stake in Perion Network during the second quarter valued at about $567,000. Finally, Renaissance Technologies LLC boosted its position 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 valued at $3,709,000 after buying an additional 66,340 shares during the period. Institutional investors and hedge funds own 12.62% of the company’s stock.

Shares of NASDAQ:PERI opened at $4.57 on Wednesday. Perion Network has a 52-week low of $2.47 and a 52-week high of $7.06. The firm has a fifty day moving average of $5.32 and a 200 day moving average of $3.93. The firm has a market capitalization of $115.81 million, a PE ratio of 10.42, a price-to-earnings-growth ratio of 1.91 and a beta of 0.91. 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 (NASDAQ:PERI) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.08. Perion Network had a net margin of 4.55% and a return on equity of 7.51%. The business had revenue of $63.57 million during the quarter, compared to analyst estimates of $59.40 million. On average, sell-side analysts forecast that Perion Network will post 0.39 EPS for the current fiscal year.

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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