Perion Network (NASDAQ:PERI) Stock Price Crosses Above 200 Day Moving Average of $4.51

Shares of Perion Network Ltd (NASDAQ:PERI) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.51 and traded as high as $5.40. Perion Network shares last traded at $5.33, with a volume of 1,943 shares trading hands.

PERI has been the topic of several analyst reports. ValuEngine downgraded Perion Network from a “sell” rating to a “strong sell” rating in a report on Thursday, September 26th. Taglich Brothers reiterated a “speculative buy” rating on shares of Perion Network in a report on Friday, November 8th. TheStreet upgraded Perion Network from a “d+” rating to a “c+” rating in a report on Friday, August 9th. Finally, Zacks Investment Research downgraded shares of Perion Network from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $6.13.

The firm’s 50 day moving average price is $5.22 and its 200-day moving average price is $4.51. The firm has a market cap of $138.82 million, a price-to-earnings ratio of 17.00, a P/E/G ratio of 2.36 and a beta of 0.94. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.34 and a quick ratio of 1.34.

Perion Network (NASDAQ:PERI) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. The business had revenue of $65.78 million for the quarter, compared to the consensus estimate of $65.00 million. Perion Network had a net margin of 4.66% and a return on equity of 7.78%. Analysts expect that Perion Network Ltd will post 0.38 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN acquired a new stake in shares of Perion Network in the second quarter worth $58,000. Barclays PLC lifted its position in Perion Network by 14,445.5% in the third quarter. Barclays PLC now owns 16,000 shares of the technology company’s stock worth $78,000 after purchasing an additional 15,890 shares during the period. State of New Jersey Common Pension Fund D bought a new position in Perion Network in the third quarter worth $115,000. State of Tennessee Treasury Department lifted its position in Perion Network by 491.2% in the third quarter. State of Tennessee Treasury Department now owns 62,798 shares of the technology company’s stock worth $307,000 after purchasing an additional 52,175 shares during the period. Finally, Seizert Capital Partners LLC bought a new position in Perion Network in the second quarter worth $316,000. Institutional investors and hedge funds own 17.76% of the company’s stock.

About Perion Network (NASDAQ:PERI)

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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