Zacks: Perion Network Ltd (PERI) Given Average Recommendation of “Hold” by Analysts

Shares of Perion Network Ltd (NASDAQ:PERI) have been given an average broker rating score of 2.50 (Hold) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has assigned a buy recommendation to the company.

Brokerages have set a twelve-month consensus price objective of $5.50 for the company and are expecting that the company will post $0.04 EPS for the current quarter, according to Zacks. Zacks has also given Perion Network an industry rank of 183 out of 255 based on the ratings given to related companies.

Separately, Zacks Investment Research upgraded shares of Perion Network from a “hold” rating to a “buy” rating and set a $3.50 price target for the company in a research report on Friday, February 15th.

A hedge fund recently raised its stake in Perion Network stock. Essex Investment Management Co. LLC boosted its position in shares of Perion Network Ltd (NASDAQ:PERI) by 73.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 103,017 shares of the technology company’s stock after purchasing an additional 43,774 shares during the quarter. Essex Investment Management Co. LLC owned 0.40% of Perion Network worth $268,000 as of its most recent SEC filing. 10.48% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:PERI traded up $0.09 during trading on Wednesday, hitting $3.20. 200 shares of the company’s stock were exchanged, compared to its average volume of 35,287. Perion Network has a 1-year low of $2.13 and a 1-year high of $4.05. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market cap of $80.39 million, a price-to-earnings ratio of 10.23 and a beta of 1.28.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings results on Wednesday, February 13th. The technology company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.15 by $0.04. Perion Network had a net margin of 3.21% and a return on equity of 10.33%. The company had revenue of $71.96 million during the quarter, compared to analysts’ expectations of $74.25 million. Equities research analysts anticipate that Perion Network will post 0.32 earnings per share for the current year.

About Perion Network

Perion Network Ltd. is a global technology company, which engages in the provision of advertising solutions to brands and publishers. It offers the following business solutions: Undertone, which connects brands to consumers using engaging creatives; Code Fuel, which enables developers to optimize search traffic and generate incremental revenue; MakeMeReach, an automated social management platform that help ad performance across Facebook, Twitter, Instagram, and Snapchat; and Smilebox, a desktop and mobile applications.

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