In the last trading session, 1,118,350 shares of the Perion Network Ltd.(NASDAQ:PERI) were traded, and its beta was 1.15. Most recently the company’s share price was $22.63, and it changed around $0.74 or 0.03% from the last close, which brings the market valuation of the company to $725.07 Million. PERI currently trades at a discount to its 52-week high of $26.07, offering almost -15.2% off that amount. The share price’s 52-week low was $3.43, which indicates that the current value has risen by an impressive 84.84% since then. We note from Perion Network Ltd.’s average daily trading volume that its 10-day average is 1.33 Million shares, with the 3-month average coming to 1.45 Million.
Perion Network Ltd. stock received a consensus recommendation rating of Buy, based on a mean score of 1.7. If we narrow it down even further, the data shows that none out of 4 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, no body recommended PERI as a Hold, whereas 4 deemed it a Buy, and no one rated it as Underweight. Perion Network Ltd. is expected to report earnings per share of $0 for the current quarter.
Perion Network Ltd. (NASDAQ:PERI): Trading Information
Instantly PERI has showed a green trend with a performance of 3.38% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $24.79 on Tuesday, Feb 16 increased the stock’s daily price by 8.71%. The company’s shares are currently up 0.78% year-to-date, but still down -0.0271 over the last five days. On the other hand, Perion Network Ltd. (NASDAQ:PERI) is 0.62% up in the 30-day period. We can see from the shorts that 380.05 Million shares have been sold at a short interest cover period of 262.1 day(s).
The consensus price target as assigned by Wall Street analysts is $30, which translates to bears needing to increase their stock price by 32.57% from its current value. Analyst projections state that PERI is forecast to be at a low of $28 and a high of $31. In order for the stock price to hit the forecast high, the stock would need to surge +36.99% from its current level, while the stock would need to crash 23.73% from its current level to reach the projected low.
Perion Network Ltd. (PERI) projections and forecasts
Perion Network Ltd. share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +270.98 percent over the past six months and at a -11.11% annual growth rate that is well below the industry average of 11.5%. However, despite this, analysts have decided to cut back on their fiscal year 2021 revenue estimates. The rating firms predict that it will lose -100% in revenue this quarter, and will report an increase of 112.5% in the next quarter. The year-over-year growth rate is expected to be 10.2%, up from the previous year.
Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $76.67 Million in revenue for the current quarter. 5 analysts expect Perion Network Ltd. to make $82.75 Million in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarter a year ago was $66.05 Million. Analysts predict that the company’s current quarter sales will jump, forecast at 16.1%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 17.1%. Perion Network Ltd. earnings are expected to decrease by -27.4% in 2021, but the outlook is negative 0% per year for the next five years.
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Perion Network Ltd. (NASDAQ:PERI)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 19.48% of Perion Network Ltd. shares, and 38.61% of them are in the hands of institutional investors. The stock currently has a share float of 47.95%. Perion Network Ltd. stock is held by 64 institutions, with Private Capital Management, Inc. being the largest institutional investor. By Sep 29, 2020, it held 7.56% of the shares, which is about 2.04 Million shares worth $14.23 Million.
Renaissance Technologies, LLC, with 7.44% or 2.01 Million shares worth $25.53 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.