Perion Network Ltd. (NASDAQ:PERI - Free Report) - Analysts at Roth Capital reduced their Q1 2024 earnings estimates for shares of Perion Network in a research report issued to clients and investors on Tuesday, April 9th. Roth Capital analyst J. Martin now forecasts that the technology company will post earnings of $0.36 per share for the quarter, down from their previous estimate of $0.53. Roth Capital currently has a "Neutral" rating on the stock. The consensus estimate for Perion Network's current full-year earnings is $3.04 per share. Roth Capital also issued estimates for Perion Network's Q2 2024 earnings at $0.22 EPS, Q3 2024 earnings at $0.33 EPS, Q4 2024 earnings at $0.50 EPS, FY2024 earnings at $1.43 EPS and FY2025 earnings at $1.58 EPS.
Other research analysts have also recently issued reports about the company. Roth Mkm reaffirmed a "neutral" rating and issued a $13.00 price target (down from $35.00) on shares of Perion Network in a report on Tuesday. StockNews.com cut Perion Network from a "buy" rating to a "hold" rating in a report on Thursday, February 8th. Lake Street Capital reaffirmed a "hold" rating and issued a $16.00 price target on shares of Perion Network in a report on Monday. Finally, Needham & Company LLC cut their price target on Perion Network from $35.00 to $18.00 and set a "buy" rating for the company in a report on Monday. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Perion Network currently has a consensus rating of "Hold" and an average target price of $25.80.
Read Our Latest Report on Perion Network
Perion Network Trading Down 2.8 %
Shares of Perion Network stock traded down $0.37 during trading on Thursday, reaching $12.73. The company's stock had a trading volume of 1,639,675 shares, compared to its average volume of 815,172. The stock has a 50-day moving average price of $22.24 and a two-hundred day moving average price of $26.52. Perion Network has a one year low of $12.10 and a one year high of $42.75. The stock has a market capitalization of $587.74 million, a P/E ratio of 5.44, a price-to-earnings-growth ratio of 0.19 and a beta of 1.24.
Perion Network (NASDAQ:PERI - Get Free Report) last issued its earnings results on Wednesday, February 7th. The technology company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.93 by $0.11. Perion Network had a net margin of 15.80% and a return on equity of 23.06%. The company had revenue of $234.23 million for the quarter, compared to the consensus estimate of $233.09 million. During the same quarter in the previous year, the company earned $0.84 EPS. The firm's revenue for the quarter was up 11.7% compared to the same quarter last year.
Institutional Trading of Perion Network
Institutional investors and hedge funds have recently modified their holdings of the stock. Legal & General Group Plc bought a new stake in shares of Perion Network in the 3rd quarter valued at about $25,000. Naples Money Management LLC bought a new stake in shares of Perion Network in the 4th quarter valued at about $29,000. Ronald Blue Trust Inc. increased its stake in shares of Perion Network by 227.2% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,165 shares of the technology company's stock valued at $36,000 after acquiring an additional 809 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of Perion Network in the 4th quarter valued at about $49,000. Finally, Blue Trust Inc. grew its position 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 valued at $51,000 after purchasing an additional 493 shares during the period. 68.12% of the stock is owned by institutional investors.
About Perion Network
(
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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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