Short Interest in Perion Network Ltd. (NASDAQ:PERI) Grows By 24.3%

Perion Network Ltd. (NASDAQ:PERIGet Rating) saw a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 623,400 shares, an increase of 24.3% from the May 15th total of 501,700 shares. Based on an average daily volume of 407,400 shares, the short-interest ratio is presently 1.5 days.

Several analysts have commented on PERI shares. StockNews.com lowered Perion Network from a “strong-buy” rating to a “buy” rating in a report on Friday, May 20th. Needham & Company LLC assumed coverage on Perion Network in a report on Friday, June 3rd. They issued a “buy” rating and a $32.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $30.83.

A number of institutional investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. lifted its position 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 buying an additional 778 shares in the last quarter. Essex Investment Management Co. LLC lifted its position in 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 worth $1,445,000 after buying an additional 1,556 shares in the last quarter. PDT Partners LLC lifted its position in Perion Network by 2.1% during the first quarter. PDT Partners LLC now owns 89,887 shares of the technology company’s stock worth $2,022,000 after buying an additional 1,809 shares in the last quarter. Juncture Wealth Strategies LLC lifted its position 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 Perion Network by 6.9% during the first quarter. Advisory Services Network LLC now owns 31,264 shares of the technology company’s stock worth $703,000 after buying an additional 2,010 shares in the last quarter. Hedge funds and other institutional investors own 46.52% of the company’s stock.

NASDAQ PERI opened at $17.33 on Friday. The company has a market cap of $769.82 million, a PE ratio of 13.98, a price-to-earnings-growth ratio of 0.48 and a beta of 1.29. The stock’s 50 day simple moving average is $20.74 and its 200-day simple moving average is $21.56. Perion Network has a 1-year low of $15.76 and a 1-year high of $33.09.

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

Perion Network Company Profile (Get Rating)

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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