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Perion Network (NASDAQ:PERI) was the target of a significant decrease in short interest during the month of August. As of August 15th, there was short interest totalling 633,767 shares, a decrease of 46.4% from the July 31st total of 1,181,842 shares, Stock Ratings Network reports. Approximately 2.0% of the shares of the company are short sold. Based on an average daily volume of 193,808 shares, the short-interest ratio is currently 3.3 days.

Separately, analysts at Needham & Company LLC downgraded shares of Perion Network from a “buy” rating to a “hold” rating in a research note on Thursday, August 7th. They now have a $15.00 price target on the stock.

Perion Network (NASDAQ:PERI) opened at 6.87 on Thursday. Perion Network has a 1-year low of $6.40 and a 1-year high of $14.33. The stock’s 50-day moving average is $7.72 and its 200-day moving average is $10.02. The company has a market cap of $463.5 million and a P/E ratio of 16.63.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.39 earnings per share (EPS) for the quarter, meeting the 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 previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 36.9% on a year-over-year basis. On average, analysts predict that Perion Network will post $1.29 earnings per share for the current fiscal year.

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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