Perion Network Ltd (NASDAQ:PERI) saw unusually-strong trading volume on Thursday following a stronger than expected earnings report. Approximately 233,798 shares were traded during mid-day trading, a decline of 57% from the previous session’s volume of 547,979 shares.The stock last traded at $8.48 and had previously closed at $8.42.
The technology company reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.06. Perion Network had a return on equity of 7.78% and a net margin of 4.66%. The company had revenue of $78.26 million for the quarter, compared to the consensus estimate of $75.30 million.
PERI has been the topic of a number of research reports. TheStreet raised shares of Perion Network from a “c+” rating to a “b-” rating in a research note on Wednesday, January 15th. Sidoti raised their target price on shares of Perion Network from $7.00 to $8.00 and gave the company a “not rated” rating in a report on Monday, January 6th. Zacks Investment Research upgraded shares of Perion Network from a “hold” rating to a “strong-buy” rating and set a $9.00 target price for the company in a research report on Thursday, January 9th. Taglich Brothers reaffirmed a “speculative buy” rating on shares of Perion Network in a report on Friday, November 8th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $10.00 price target (up from $8.00) on shares of Perion Network in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $9.00.
Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP purchased a new stake in Perion Network during the 4th quarter worth about $40,000. UBS Group AG purchased a new position in Perion Network in the 4th quarter valued at about $40,000. Tower Research Capital LLC TRC purchased a new position in Perion Network in the 4th quarter valued at about $54,000. Sei Investments Co. acquired a new stake in shares of Perion Network during the 4th quarter worth about $67,000. Finally, Barclays PLC boosted its stake in shares of Perion Network by 14,445.5% during the 3rd quarter. Barclays PLC now owns 16,000 shares of the technology company’s stock worth $78,000 after purchasing an additional 15,890 shares during the last quarter. 17.51% of the stock is owned by institutional investors.
The firm has a market capitalization of $213.25 million, a PE ratio of 19.59, a P/E/G ratio of 2.19 and a beta of 0.78. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.20. The business’s fifty day moving average price is $7.93 and its 200 day moving average price is $5.96.
About Perion Network (NASDAQ:PERI)
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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