Perion Network (NASDAQ:PERI) Downgraded to Sell at ValuEngine

ValuEngine cut shares of Perion Network (NASDAQ:PERI) from a hold rating to a sell rating in a research note published on Thursday morning, ValuEngine reports.

PERI has been the topic of several other research reports. Zacks Investment Research cut Perion Network from a buy rating to a hold rating in a research report on Tuesday, July 23rd. TheStreet cut Perion Network from a c rating to a d+ rating in a research report on Wednesday, July 17th. Finally, Lake Street Capital assumed coverage on Perion Network in a research report on Monday, July 8th. They set a buy rating and a $6.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Perion Network currently has a consensus rating of Hold and a consensus target price of $5.42.

Shares of NASDAQ PERI traded up $0.13 during midday trading on Thursday, hitting $4.63. 361,703 shares of the stock traded hands, compared to its average volume of 251,313. The company has a market capitalization of $116.33 million, a P/E ratio of 14.94, a PEG ratio of 2.34 and a beta of 1.03. Perion Network has a one year low of $2.47 and a one year high of $4.72. The company’s 50 day moving average is $3.51. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.24.

Perion Network (NASDAQ:PERI) last released its quarterly earnings data on Wednesday, May 15th. The technology company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The firm had revenue of $53.85 million during the quarter, compared to the consensus estimate of $61.00 million. Perion Network had a return on equity of 8.90% and a net margin of 3.78%. Research analysts predict that Perion Network will post 0.32 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Perion Network stock. Meitav Dash Investments Ltd. lifted its stake in shares of Perion Network Ltd (NASDAQ:PERI) by 30.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,210 shares of the technology company’s stock after buying an additional 4,000 shares during the period. Meitav Dash Investments Ltd. owned about 0.07% of Perion Network worth $47,000 at the end of the most recent quarter. Institutional investors own 10.38% 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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