Perion Network Ltd (NASDAQ:PERI) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS
Perion Network Ltd (NASDAQ:PERI) released its quarterly earnings data on Thursday. The technology company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.08 by $0.03, MarketWatch Earnings reports. Perion Network had a positive return on equity of 8.21% and a negative net margin of 11.31%. The firm had revenue of $78 million for the quarter, compared to the consensus estimate of $73.07 million. During the same period in the previous year, the business earned $0.08 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year.
Perion Network (PERI) traded down 3.78% on Friday, reaching $1.40. 241,706 shares of the company traded hands. The firm has a 50 day moving average of $1.87 and a 200-day moving average of $1.82. Perion Network has a one year low of $0.94 and a one year high of $2.38. The stock has a market capitalization of $108.48 million, a PE ratio of 33.33 and a beta of 1.70.
A number of hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its stake in shares of Perion Network by 29.9% in the first quarter. Goldman Sachs Group Inc. now owns 80,153 shares of the technology company’s stock valued at $143,000 after buying an additional 18,456 shares during the last quarter. First Wilshire Securities Management Inc. boosted its stake in shares of Perion Network by 34.1% in the first quarter. First Wilshire Securities Management Inc. now owns 122,996 shares of the technology company’s stock valued at $219,000 after buying an additional 31,300 shares during the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Perion Network by 9.4% in the first quarter. GHP Investment Advisors Inc. now owns 136,111 shares of the technology company’s stock valued at $242,000 after buying an additional 11,700 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Perion Network during the first quarter valued at approximately $387,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Perion Network by 14.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,633,900 shares of the technology company’s stock valued at $2,320,000 after buying an additional 208,896 shares during the last quarter. Institutional investors and hedge funds own 17.37% of the company’s stock.
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About Perion Network
Perion Network Ltd. is a global technology company. It is engaged in delivering advertising solutions to brands and publishers. It operates through High Impact Advertising solutions segment. It provides execution, ranging from high-impact advertisement formats to branded search, and a unified social and mobile programmatic platform.
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