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

Perion Network Ltd. (NASDAQ:PERI – Get Free Report ) was the target of a large decline in short interest in September. As of September 15th, there was short interest totaling 1,290,000 shares, a decrease of 12.8% from the August 31st total of 1,480,000 shares. Based on an average trading volume of 465,700 shares, the days-to-cover ratio is currently 2.8 days.

Perion network stock down 1.5%

NASDAQ PERI opened at $7.97 on Friday. Perion Network has a 52-week low of $7.47 and a 52-week high of $32.99. The firm has a market cap of $382.49 million, a price-to-earnings ratio of 3.80, a PEG ratio of 0.40 and a beta of 1.48. The company has a fifty day moving average of $8.37 and a two hundred day moving average of $11.41.

Perion Networks (NASDAQ:PERI – Get Free Report ) last posted its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.12 by $0.03. The company had revenue of $108.69 million for the quarter, compared to the consensus estimate of $106.98 million. Perion Network had a net margin of 11.34% and a return on equity of 15.65%. equities research analysts anticipate that Perion Network will post 0.91 EPS for the current year.

Analysts set new price targets

A number of research firms recently weighed in on PERI. Lake Street Capital raised shares of Perion Network from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Wednesday, July 31st. Oppenheimer downgraded shares of Perion Network from an “outperform” rating to a “market perform” rating in a report on Monday, June 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Perion Network currently has an average rating of “Hold” and an average price target of $13.67, based on data from MarketBeat.

Get the latest report on Perion Network

Institutional investors intervene in the Perion network

Institutional investors and hedge funds have recently modified their holdings of the business. Harel Insurance Investments & Financial Services Ltd. raised its stake in Perion Network by 18.8% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,943,795 shares of the technology company’s stock worth $88,657,000 after buying an additional 624,441 shares during the period. Acadian Asset Management LLC boosted its holdings in Perion Network by 43.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,722,676 shares of the technology company’s stock valued at $14,367,000 after buying an additional 522,424 shares. of shares in the last quarter. YD More Investments Ltd boosted its position in Perion Network by 580.4% in the second quarter. YD More Investments Ltd now owns 264,379 shares of the technology company’s stock valued at $2,191,000 after purchasing an additional 225,520 shares during the period. Squarepoint Ops LLC raised its stake in Perion Network by 997.5% in the second quarter. Squarepoint Ops LLC now owns 133,815 shares of the technology company’s stock worth $1,117,000 after acquiring an additional 121,622 shares during the last quarter. Finally, ARK Investment Management LLC increased its position in shares of Perion Network by 156.9% in the second quarter. ARK Investment Management LLC now owns 192,002 shares of the technology company’s stock worth $1,603,000 after acquiring an additional 117,253 shares during the period. 68.12% of shares are owned by institutional investors.

About the Perion Network

(Get a free report)

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

Further reading

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