Perion Network Ltd. (NASDAQ:PERI) Short Interest Update

Perion Network Ltd. (NASDAQ:PERI) was the recipient of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totalling 1,720,000 shares, a decrease of 33.6% from the June 15th total of 2,590,000 shares. Based on an average daily volume of 1,200,000 shares, the short-interest ratio is currently 1.4 days.

Hedge Funds Weigh In On Perion Network

Several hedge funds have recently modified their holdings of PERI. Naples Money Management LLC acquired a new position in shares of Perion Network in the 4th quarter worth $29,000. Principal Securities Inc. acquired a new position in shares of Perion Network in the 4th quarter worth $49,000. Blue Trust Inc. grew its holdings in shares of Perion Network by 42.3% in the 4th quarter. Blue Trust Inc. now owns 1,658 shares of the technology company’s stock worth $51,000 after acquiring an additional 493 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Perion Network by 16.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,105 shares of the technology company’s stock worth $188,000 after buying an additional 847 shares during the period. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Perion Network in the first quarter worth $204,000. 68.12% of the stock is currently owned by institutional investors and hedge funds.

Perion Network Trading Up 1.0 %

PERI traded up $0.08 during trading hours on Friday, hitting $8.37. The company’s stock had a trading volume of 31,662 shares, compared to its average volume of 852,549. Perion Network has a fifty-two week low of $8.14 and a fifty-two week high of $36.86. The firm has a market capitalization of $401.68 million, a PE ratio of 3.95, a PEG ratio of 0.44 and a beta of 1.41. The company has a 50-day simple moving average of $10.47 and a 200 day simple moving average of $18.57.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). Perion Network had a net margin of 13.94% and a return on equity of 20.70%. The firm had revenue of $157.82 million for the quarter, compared to analyst estimates of $156.96 million. Research analysts expect that Perion Network will post 0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PERI has been the subject of a number of analyst reports. Roth Capital downgraded Perion Network from a “buy” rating to a “neutral” rating in a report on Tuesday, April 9th. Roth Mkm reissued a “neutral” rating and issued a $13.00 price target (down previously from $35.00) on shares of Perion Network in a report on Tuesday, April 9th. Needham & Company LLC downgraded Perion Network from a “buy” rating to a “hold” rating in a report on Monday, June 10th. Oppenheimer downgraded Perion Network from an “outperform” rating to a “market perform” rating in a report on Monday, June 10th. Finally, Lake Street Capital reduced their target price on Perion Network from $16.00 to $10.00 and set a “hold” rating on the stock in a report on Tuesday, June 11th. Seven research analysts have rated the stock with a hold rating, According to MarketBeat.com, Perion Network has a consensus rating of “Hold” and a consensus price target of $24.60.

Perion Network Company Profile

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.