Perion Network Ltd (NASDAQ:PERI) was the recipient of a significant drop in short interest in September. As of September 30th, there was short interest totalling 525,100 shares, a drop of 18.3% from the September 15th total of 643,000 shares. Based on an average trading volume of 224,700 shares, the days-to-cover ratio is presently 2.3 days. Currently, 2.5% of the shares of the stock are short sold.

Several brokerages recently commented on PERI. Lake Street Capital lifted their target price on shares of Perion Network from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, October 8th. Oppenheimer restated a “buy” rating and set a $10.00 target price on shares of Perion Network in a report on Wednesday, October 7th. Zacks Investment Research upgraded shares of Perion Network from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a report on Tuesday, October 13th. Taglich Brothers upgraded shares of Perion Network from a “speculative buy” rating to a “buy” rating in a research note on Wednesday, August 12th. Finally, ValuEngine upgraded shares of Perion Network from a “sell” rating to a “hold” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $8.94.

A number of large investors have recently modified their holdings of the business. Creative Planning raised its position in Perion Network by 48.3% in the 2nd quarter. Creative Planning now owns 22,240 shares of the technology company’s stock worth $116,000 after buying an additional 7,245 shares during the last quarter. Citigroup Inc. raised its position in Perion Network by 236.6% in the 1st quarter. Citigroup Inc. now owns 11,865 shares of the technology company’s stock worth $58,000 after buying an additional 8,340 shares during the last quarter. GWM Advisors LLC purchased a new position in Perion Network in the 2nd quarter worth about $55,000. Virtu Financial LLC purchased a new position in Perion Network in the 2nd quarter worth about $89,000. Finally, Perritt Capital Management Inc. purchased a new position in Perion Network in the 2nd quarter worth about $105,000. 24.37% of the stock is owned by institutional investors and hedge funds.

Shares of Perion Network stock opened at $7.58 on Friday. The stock has a market cap of $202.59 million, a price-to-earnings ratio of 25.27, a PEG ratio of 98.50 and a beta of 0.95. The firm’s 50-day moving average is $6.54 and its 200 day moving average is $5.58. Perion Network has a 1 year low of $3.43 and a 1 year high of $9.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.08 and a quick ratio of 1.08.

Perion Network (NASDAQ:PERI) last issued its earnings results on Wednesday, August 5th. The technology company reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.12. Perion Network had a return on equity of 6.79% and a net margin of 2.90%. The business had revenue of $60.34 million during the quarter, compared to analyst estimates of $52.90 million. On average, equities analysts expect that Perion Network will post 0.01 EPS for the current fiscal year.

Perion Network Company Profile

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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