Perion Network (NASDAQ:PERI) Stock Price Down 6.8%

Shares of Perion Network Ltd (NASDAQ:PERI) dropped 6.8% during trading on Monday . The stock traded as low as $4.48 and last traded at $4.64, approximately 678,392 shares changed hands during mid-day trading. An increase of 303% from the average daily volume of 168,275 shares. The stock had previously closed at $4.98.

PERI has been the subject of several recent analyst reports. ValuEngine cut shares of Perion Network from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. TheStreet raised shares of Perion Network from a “d+” rating to a “c+” rating in a research note on Friday, August 9th. Zacks Investment Research raised shares of Perion Network from a “hold” rating to a “strong-buy” rating and set a $6.25 price objective for the company in a research note on Saturday, August 17th. Finally, Lake Street Capital assumed coverage on shares of Perion Network in a research note on Monday, July 8th. They set a “buy” rating and a $6.00 price objective for the company.

The company’s 50 day moving average price is $5.58 and its 200-day moving average price is $3.71. The company has a market capitalization of $131.32 million, a PE ratio of 14.97, a PEG ratio of 2.17 and a beta of 0.98. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.23.



Perion Network (NASDAQ:PERI) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.11 earnings per share (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 company had revenue of $63.57 million during the quarter, compared to analysts’ expectations of $59.40 million. As a group, analysts predict that Perion Network Ltd will post 0.39 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in PERI. Meitav Dash Investments Ltd. grew its stake in shares of Perion Network by 30.3% during 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. Seizert Capital Partners LLC purchased a new stake in shares of Perion Network during the 2nd quarter valued at $316,000. Wells Fargo & Company MN purchased a new stake in Perion Network during the 2nd quarter worth $58,000. Renaissance Technologies LLC boosted its position in Perion Network by 5.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,274,659 shares of the technology company’s stock worth $3,709,000 after purchasing an additional 66,340 shares during the period. Finally, River & Mercantile Asset Management LLP purchased a new stake in Perion Network during the 2nd quarter worth $567,000. 12.62% of the stock is owned by institutional investors.

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.

Recommended Story: Elliott Wave Theory

Receive News & Ratings for Perion Network Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perion Network and related companies with MarketBeat.com's FREE daily email newsletter.