Perion Network Downgraded by Needham & Company LLC to “Hold” (PERI)
Perion Network (NASDAQ:PERI) was downgraded by investment analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, TheFlyOnTheWall.com reports.
Shares of Perion Network (NASDAQ:PERI) remained flat at $7.45 during during mid-day trading trading on Thursday. 35,564 shares of the company’s stock traded hands. Perion Network has a 52 week low of $7.30 and a 52 week high of $14.33. The stock’s 50-day moving average is $9.48 and its 200-day moving average is $10.72. The company has a market cap of $500.5 million and a P/E ratio of 21.10.
Perion Network (NASDAQ:PERI) last announced its earnings results on Wednesday, August 6th. The company reported $0.39 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.39. The company had revenue of $111.10 million for the quarter, compared to the consensus estimate of $1.70 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company’s quarterly revenue was up 36.9% on a year-over-year basis.
Perion Network Ltd, formerly IncrediMail Ltd., is an Internet content and media company. The Company’s products have been downloaded in more than 100 countries and in 2010, it recorded on average approximately 1.
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