Perion Network (NASDAQ:PERI) Sees Unusually-High Trading Volume

Perion Network Ltd. (NASDAQ:PERIGet Rating) shares saw unusually-strong trading volume on Thursday . Approximately 24,163 shares changed hands during trading, a decline of 95% from the previous session’s volume of 470,738 shares.The stock last traded at $17.11 and had previously closed at $18.50.

Several research analysts have recently commented on the stock. Needham & Company LLC initiated coverage on shares of Perion Network in a research note on Friday, June 3rd. They set a “buy” rating and a $32.00 price target on the stock. StockNews.com downgraded Perion Network from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 20th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Perion Network has an average rating of “Buy” and an average price target of $30.83.

The firm has a market cap of $760.04 million, a P/E ratio of 14.92, a P/E/G ratio of 0.48 and a beta of 1.29. The stock’s 50 day simple moving average is $20.91 and its two-hundred day simple moving average is $21.62.

Perion Network (NASDAQ:PERIGet Rating) last issued its earnings results on Thursday, April 28th. The technology company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.13. The business had revenue of $125.30 million during the quarter, compared to analyst estimates of $122.02 million. Perion Network had a return on equity of 13.67% and a net margin of 9.90%. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. On average, analysts forecast that Perion Network Ltd. will post 1.59 EPS for the current year.

Large investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its holdings in Perion Network by 5.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,531 shares of the technology company’s stock worth $327,000 after purchasing an additional 778 shares during the last quarter. Essex Investment Management Co. LLC boosted its holdings in shares of Perion Network by 2.5% during the first quarter. Essex Investment Management Co. LLC now owns 64,247 shares of the technology company’s stock valued at $1,445,000 after acquiring an additional 1,556 shares during the period. PDT Partners LLC lifted its holdings in Perion Network by 2.1% in the first quarter. PDT Partners LLC now owns 89,887 shares of the technology company’s stock worth $2,022,000 after purchasing an additional 1,809 shares during the period. Juncture Wealth Strategies LLC boosted its holdings in Perion Network by 7.8% during the fourth quarter. Juncture Wealth Strategies LLC now owns 26,343 shares of the technology company’s stock worth $634,000 after buying an additional 1,909 shares in the last quarter. Finally, Advisory Services Network LLC lifted its position in shares of Perion Network by 6.9% in the 1st quarter. Advisory Services Network LLC now owns 31,264 shares of the technology company’s stock valued at $703,000 after acquiring an additional 2,010 shares in the last quarter. 46.52% of the stock is owned by institutional investors and hedge funds.

Perion Network Company Profile (NASDAQ:PERI)

Perion Network Ltd. provides digital advertising solutions to brands, agencies, and publishers in North America, Europe, and internationally. It provides 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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