Perion Network Ltd. (NASDAQ:PERI) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Perion Network Ltd. (NASDAQ:PERI) have received a consensus recommendation of “Hold” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $24.60.

PERI has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Perion Network from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Roth Mkm reiterated a “neutral” rating and issued a $13.00 target price (down previously from $35.00) on shares of Perion Network in a research note on Tuesday, April 9th. Lake Street Capital reduced their target price on shares of Perion Network from $16.00 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, June 11th. Oppenheimer lowered shares of Perion Network from an “outperform” rating to a “market perform” rating in a research report on Monday, June 10th. Finally, Roth Capital lowered shares of Perion Network from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 9th.

Perion Network Price Performance

Shares of PERI stock opened at $8.82 on Friday. The firm has a 50-day moving average of $11.44 and a 200-day moving average of $20.64. The company has a market cap of $423.27 million, a P/E ratio of 4.20, a P/E/G ratio of 0.48 and a beta of 1.40. Perion Network has a one year low of $8.14 and a one year high of $36.86.

Perion Network (NASDAQ:PERI) last posted its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Perion Network had a return on equity of 20.70% and a net margin of 13.94%. The company had revenue of $157.82 million for the quarter, compared to analysts’ expectations of $156.96 million. As a group, research analysts expect that Perion Network will post 0.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Perion Network

Several hedge funds have recently bought and sold shares of the stock. Allworth Financial LP raised its stake in shares of Perion Network by 0.8% during the fourth quarter. Allworth Financial LP now owns 60,676 shares of the technology company’s stock worth $1,873,000 after acquiring an additional 464 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Perion Network by 42.3% during the 4th quarter. Blue Trust Inc. now owns 1,658 shares of the technology company’s stock valued at $51,000 after buying an additional 493 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Perion Network by 16.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,105 shares of the technology company’s stock valued at $188,000 after buying an additional 847 shares in the last quarter. Naples Money Management LLC bought a new stake in shares of Perion Network during the 4th quarter valued at $29,000. Finally, Pitcairn Co. boosted its stake in Perion Network by 9.0% in the 1st quarter. Pitcairn Co. now owns 12,406 shares of the technology company’s stock worth $279,000 after purchasing an additional 1,027 shares in the last quarter. 68.12% of the stock is currently owned by institutional investors.

About Perion Network

Perion Network Ltd. provides digital advertising solutions to brands, agencies, and publishers in North America, Europe, and internationally. It offers Wildfire, a content monetization platform; search monetization solutions, including website monetization, search mediation, and app monetization; and cross-channel digital advertising software as a service platform.