Today’s big question for investors is, “what’s going on with Perion Network Ltd. (NASDAQ:PERI) stock? Its price is nose-diving -0.14 points, trading at $2.9 levels, and is down -4.61% from its previous close of $3.04. The shares seem to have an active trading volume day with a reported 135090 contracts so far this session. PERI shares had a relatively better volume day versus average trading capacity of 36.98 million shares, but with a 19.12 million float and a -1.62% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for PERI stock indicates that the average analyst price target is $5.5 per share. This means the stock has a potential increase of 89.66% from where the PERI share price has been trading recently which is between $3.04 and $3.1. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $5.
The shorts are running away from Perion Network Ltd. (PERI) stock. The latest set of short interest data was released on 31 May 2019, and the numbers show a drop in short interest in PERI shares. While short interest still represents only 0.36% of PERI’s float, the number of shares shorted have fallen by -18267. The number of shares shorted fell to 49818 shares, down from 68085 shares during the preceding fortnight. With average daily trading volumes at 69401 shares, days to cover decreased to about 1.785883 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Top Ranked Value Stocks to Buy for June 12th” and dated June 12, 2019.
During the recent trading session for Perion Network Ltd. (NASDAQ:PERI), the company witnessed their stock drop by $-0.21 over a week and tumble down $-0.07 from the price 20 days ago. When compared to their established 52-week high of $3.96, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 06/13/18. The recent low of $2.47 stood for a -27.86% since 12/27/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.14 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Perion Network Ltd., the two-week RSI stands at 38.71. This figure suggests that PERI stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current PERI readings is similarly very revealing as it has a stochastic reading of 23.78% at this stage. This figure means that PERI share price today is being overbought.
Technical chart claims that Perion Network Ltd. (PERI) would settle between $3.08/share to $3.12/share level. However, if the stock price goes below the $3.02 mark, then the market for Perion Network Ltd. becomes much weaker. If that happens, the stock price might even plunge as low as $3 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.04. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Chardan Capital Markets raised their recommendation on shares of PERI from Neutral to Buy in their opinion released on November 04. Chardan Capital Markets analysts have lowered their rating of Perion Network Ltd. (NASDAQ:PERI) stock from Buy to Neutral in a separate flash note issued to investors on December 31. Analysts at Standpoint Research, made their first call for the equity with a Buy recommendation, according to a research note that dated back to September 12.
PERI equity has an average rating of 2, with the figure leaning towards a bullish end. 1 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 1 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 1 analysts rated Perion Network Ltd. (NASDAQ:PERI) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, PERI stock price is currently trading at 5.33X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.31 while for the average stock in the same group, the multiple is 5.2.
Perion Network Ltd. (PERI)’s current-quarter revenues are projected to climb by nearly -8.76% to hit $57.3 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -0.87% from $252850 to a noteworthy $250650. At the other end of the current quarter income statement, Perion Network Ltd. is expected to see its adjusted earnings surge by roughly -88.89% to hit $0.02 per share. For the fiscal year, PERI’s earnings are projected to climb by roughly 22.58% to hit $0.38 per share.