Perion Network Ltd. (NASDAQ:PERI) is a stock to watch today. At current price of $5.18, the shares have already added 0.17 points (3.32% higher) from its previous close of $5.01. The stock sets an active trading volume day with a reported 107380 contracts so far this session. PERI shares had a relatively better volume day versus average trading capacity of 394.71 thousand shares, but with a 19.26 million float and a 11.33% 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 $6.83 per share. This means the stock has a potential increase of 31.85% from where the PERI share price has been trading recently which is between $4.9716 and $5.18. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $6.5. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $7.
During the recent trading session for Perion Network Ltd. (NASDAQ:PERI), the company witnessed their stock rise $0.45 over a week and surge $0.68 from the price 20 days ago. When compared to their established 52-week high of $7.06, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/21/19. The recent low of $2.47 stood for a -26.68% 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 0.9 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for PERI is set at $7, a figure which is below the recent 1-year high the stock witnessed.
Looking at the current readings for Perion Network Ltd., the two-week RSI stands at 55.82. 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 75.79% at this stage. This figure means that PERI share price today is being oversold.
Technical chart claims that Perion Network Ltd. (PERI) would settle between $5.14/share to $5.26/share level. However, if the stock price goes below the $4.93 mark, then the market for Perion Network Ltd. becomes much weaker. If that happens, the stock price might even plunge as low as $4.85 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.26. 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 Lake Street, assumed coverage of PERI assigning Buy rating, according to their opinion released on July 08. Chardan Capital Markets analysts bumped their rating on Perion Network Ltd. (NASDAQ:PERI) stock from Neutral to Buy in a separate flash note issued to investors on November 04. Analysts at Chardan Capital Markets lowered the stock to a Neutral call from its previous Buy recommendation, in a research note that dated back to December 31.
PERI equity has an average rating of 2.25, with the figure leaning towards a bullish end. 2 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 2 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. 2 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 9.69X forward 12-month Consensus EPS estimates, and its P/E ratio is 11.5 while for the average stock in the same group, the multiple is 29. Perion Network Ltd. current P/B ratio of 0.8 means it is trading at a discount against its industry’s 5.
Perion Network Ltd. (PERI)’s current-quarter revenues are projected to climb by nearly 12.5% to hit $64.33 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 2% from $252840 to a noteworthy $257910. At the other end of the current quarter income statement, Perion Network Ltd. is expected to see its adjusted earnings surge by roughly -12.5% to hit $0.07 per share. For the fiscal year, PERI’s earnings are projected to climb by roughly 19.4% to hit $0.37 per share.