Perion Network Ltd. (NASDAQ:PERI – Get Free Report)’s share price gapped down before the market opened on Monday after Needham & Company LLC lowered their price target on the stock from $35.00 to $18.00. The stock had previously closed at $21.11, but opened at $13.09. Needham & Company LLC currently has a buy rating on the stock. Perion Network shares last traded at $13.62, with a volume of 3,267,365 shares traded.
A number of other analysts also recently issued reports on PERI. Roth Mkm decreased their price target on Perion Network from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, February 8th. StockNews.com downgraded Perion Network from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Finally, Lake Street Capital reissued a “hold” rating and issued a $16.00 target price on shares of Perion Network in a report on Monday. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Perion Network has an average rating of “Hold” and a consensus target price of $25.80.
Check Out Our Latest Report on Perion Network
Hedge Funds Weigh In On Perion Network
Perion Network Trading Up 5.4 %
The firm has a market capitalization of $608.52 million, a PE ratio of 5.63, a price-to-earnings-growth ratio of 0.19 and a beta of 1.24. The firm has a 50-day moving average of $22.90 and a two-hundred day moving average of $26.71.
Perion Network (NASDAQ:PERI – Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.11. Perion Network had a return on equity of 23.06% and a net margin of 15.80%. The firm had revenue of $234.23 million during the quarter, compared to the consensus estimate of $233.09 million. During the same period in the prior year, the firm earned $0.84 EPS. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities research analysts expect that Perion Network Ltd. will post 3.04 earnings per share for the current fiscal year.
About Perion Network
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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