Perion Network (NASDAQ:PERI) Sees Strong Trading Volume

Perion Network Ltd. (NASDAQ:PERI - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 1,292,596 shares were traded during mid-day trading, an increase of 81% from the previous session's volume of 714,247 shares.The stock last traded at $12.99 and had previously closed at $12.50.

Analyst Ratings Changes

PERI has been the topic of a number of analyst reports. StockNews.com lowered Perion Network from a "buy" rating to a "hold" rating in a research report on Thursday, February 8th. Roth Mkm reiterated a "neutral" rating and issued a $13.00 price objective (down previously from $35.00) on shares of Perion Network in a report on Tuesday. Needham & Company LLC dropped their price objective on Perion Network from $35.00 to $18.00 and set a "buy" rating on the stock in a report on Monday. Finally, Lake Street Capital reiterated a "hold" rating and issued a $16.00 price objective on shares of Perion Network in a report on Monday. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Perion Network has a consensus rating of "Hold" and a consensus price target of $25.80.

Perion Network Trading Up 5.4 %

The business has a 50 day moving average of $22.90 and a 200-day moving average of $26.71. The stock has a market cap of $608.52 million, a PE ratio of 5.63, a P/E/G ratio of 0.32 and a beta of 1.24.

Perion Network (NASDAQ:PERI - Get Free Report) last released its quarterly earnings results on Wednesday, February 7th. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.11. The firm had revenue of $234.23 million for the quarter, compared to the consensus estimate of $233.09 million. Perion Network had a return on equity of 23.06% and a net margin of 15.80%. The firm's quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. Research analysts expect that Perion Network Ltd. will post 3.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PERI. Legal & General Group Plc purchased a new position in shares of Perion Network in the 3rd quarter valued at approximately $25,000. Naples Money Management LLC purchased a new position in shares of Perion Network in the 4th quarter valued at approximately $29,000. Ronald Blue Trust Inc. grew 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 purchasing an additional 809 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of Perion Network in the 4th quarter valued at approximately $49,000. Finally, Blue Trust Inc. grew its stake 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 last quarter. Hedge funds and other institutional investors own 68.12% of the company's stock.

About Perion Network

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.