Perion Network (NASDAQ:PERI) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Perion Network (NASDAQ:PERI) from a hold rating to a strong-buy rating in a report published on Saturday morning, Zacks.com reports. They currently have $6.25 price objective on the technology company’s stock.

According to Zacks, “Perion Network Ltd. is a global technology company that delivers online advertising solutions and search monetization to brands and publishers. Perion is committed to providing data-driven execution, from high-impact ad formats to branded search and a unified social and mobile programmatic platform. The company’s largest divisions are Undertone and CodeFuel. Undertone’s synchronized digital branding solution delivers award-winning creative experiences through cohesive stories to the world’s leading brands across the most important touchpoints, screens, and platforms. CodeFuel’s search solution platform empowers publishers to create new revenue streams and unique search experience by bringing monetization to content and application developers. “

Several other research analysts have also commented on PERI. ValuEngine lowered shares of Perion Network from a hold rating to a sell rating in a report on Thursday, August 1st. TheStreet raised shares of Perion Network from a d+ rating to a c+ rating in a report on Friday, August 9th. Finally, Lake Street Capital initiated coverage on shares of Perion Network in a report on Monday, July 8th. They issued a buy rating and a $6.00 price target for the company.

NASDAQ PERI opened at $6.60 on Friday. Perion Network has a one year low of $2.47 and a one year high of $6.74. The company has a 50-day simple moving average of $4.38 and a 200-day simple moving average of $3.33. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.31 and a current ratio of 1.31. The firm has a market capitalization of $145.54 million, a PE ratio of 21.29, a price-to-earnings-growth ratio of 2.41 and a beta of 1.04.

Perion Network (NASDAQ:PERI) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ 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. Equities analysts forecast that Perion Network will post 0.39 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Meitav Dash Investments Ltd. boosted its holdings in shares of Perion Network by 30.3% in the 1st quarter. Meitav Dash Investments Ltd. now owns 17,210 shares of the technology company’s stock valued at $47,000 after buying an additional 4,000 shares during the period. Jane Street Group LLC lifted its position in Perion Network by 30.4% in the 4th quarter. Jane Street Group LLC now owns 47,182 shares of the technology company’s stock valued at $123,000 after purchasing an additional 10,991 shares during the last quarter. Wells Fargo & Company MN bought a new stake in Perion Network in the 2nd quarter valued at about $58,000. Renaissance Technologies LLC lifted its position in Perion Network by 5.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,274,659 shares of the technology company’s stock valued at $3,709,000 after purchasing an additional 66,340 shares during the last quarter. Finally, Seizert Capital Partners LLC bought a new stake in Perion Network in the 2nd quarter valued at about $316,000. 11.13% of the stock is owned by institutional investors and hedge funds.

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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