Perion Network Ltd. (NASDAQ:PERI - Get Free Report) saw a large growth in short interest in February. As of February 28th, there was short interest totalling 943,400 shares, a growth of 48.9% from the February 13th total of 633,400 shares. Currently, 2.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 394,500 shares, the days-to-cover ratio is currently 2.4 days.
Analyst Upgrades and Downgrades
PERI has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Perion Network from a "hold" rating to a "sell" rating in a research report on Thursday, February 20th. Lake Street Capital restated a "buy" rating and set a $10.50 price target (down from $11.00) on shares of Perion Network in a research report on Wednesday, February 19th. Finally, Needham & Company LLC restated a "hold" rating on shares of Perion Network in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Perion Network presently has a consensus rating of "Hold" and an average target price of $12.25.
Get Our Latest Stock Report on PERI
Perion Network Stock Down 1.6 %
Shares of Perion Network stock traded down $0.14 during trading on Wednesday, hitting $8.20. The stock had a trading volume of 99,054 shares, compared to its average volume of 583,249. The stock has a 50 day simple moving average of $8.85 and a 200 day simple moving average of $8.54. Perion Network has a 1 year low of $7.47 and a 1 year high of $23.03. The company has a market capitalization of $367.34 million, a PE ratio of 31.60, a P/E/G ratio of 0.76 and a beta of 1.53.
Perion Network (NASDAQ:PERI - Get Free Report) last posted its earnings results on Wednesday, February 19th. The technology company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.15). The business had revenue of $129.58 million during the quarter, compared to the consensus estimate of $130.44 million. Perion Network had a return on equity of 5.55% and a net margin of 2.53%. As a group, equities analysts expect that Perion Network will post 0.51 earnings per share for the current fiscal year.
Institutional Trading of Perion Network
A number of institutional investors and hedge funds have recently modified their holdings of PERI. Russell Investments Group Ltd. acquired a new position in Perion Network during the 4th quarter valued at $41,000. SBI Securities Co. Ltd. bought a new stake in Perion Network during the 4th quarter worth about $45,000. Perritt Capital Management Inc bought a new stake in Perion Network during the 4th quarter worth about $127,000. Point72 Asset Management L.P. bought a new stake in Perion Network during the 3rd quarter worth about $134,000. Finally, XTX Topco Ltd bought a new stake in Perion Network during the 3rd quarter worth about $150,000. 68.12% of the stock is currently owned by institutional investors and hedge funds.
About Perion Network
(
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Perion Network Ltd. provides digital advertising solutions to brands, agencies, and publishers in North America, Europe, and internationally. It offers Wildfire, a content monetization platform; search monetization solutions, including website monetization, search mediation, and app monetization; and cross-channel digital advertising software as a service platform.
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