Perion Network (NASDAQ:PERI) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Perion Network (NASDAQ:PERI) from a buy rating to a hold rating in a report released on Thursday morning, Zacks.com reports.

According to Zacks, “Perion Network Ltd. is a global technology company that delivers online advertising solutions and search monetization to brands and publishers. Perion is committed to providing data-driven execution, from high-impact ad formats to branded search and a unified social and mobile programmatic platform. The company’s largest divisions are Undertone and CodeFuel. Undertone’s synchronized digital branding solution delivers award-winning creative experiences through cohesive stories to the world’s leading brands across the most important touchpoints, screens, and platforms. CodeFuel’s search solution platform empowers publishers to create new revenue streams and unique search experience by bringing monetization to content and application developers. “

Other equities research analysts have also issued research reports about the stock. TheStreet raised shares of Perion Network from a d+ rating to a c+ rating in a report on Friday, August 9th. ValuEngine lowered shares of Perion Network from a sell rating to a strong sell rating in a report on Thursday, September 26th.

PERI stock traded down $0.10 during trading on Thursday, reaching $5.08. The company had a trading volume of 403,000 shares, compared to its average volume of 184,524. The company has a market cap of $149.93 million, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 2.48 and a beta of 0.93. The firm has a 50-day simple moving average of $4.97 and a 200-day simple moving average of $4.25. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.31 and a current ratio of 1.31. Perion Network has a twelve month low of $2.47 and a twelve month high of $7.06.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $65.78 million during the quarter, compared to analyst estimates of $65.00 million. Perion Network had a net margin of 4.55% and a return on equity of 7.51%. Sell-side analysts expect that Perion Network will post 0.39 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the company. Seizert Capital Partners LLC purchased a new stake in shares of Perion Network during the second quarter worth $316,000. Wells Fargo & Company MN purchased a new stake in shares of Perion Network during the second quarter worth $58,000. River & Mercantile Asset Management LLP purchased a new stake in shares of Perion Network during the second quarter worth $567,000. Renaissance Technologies LLC grew its holdings in shares of Perion Network by 5.5% during the second quarter. Renaissance Technologies LLC now owns 1,274,659 shares of the technology company’s stock worth $3,709,000 after buying an additional 66,340 shares in the last quarter. Finally, State of Tennessee Treasury Department grew its holdings in shares of Perion Network by 491.2% during the third quarter. State of Tennessee Treasury Department now owns 62,798 shares of the technology company’s stock worth $307,000 after buying an additional 52,175 shares in the last quarter. 12.56% of the stock is owned by institutional investors and hedge funds.

About Perion Network

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.

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