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

Shares of Perion Network Ltd. (NASDAQ:PERI) have been assigned a consensus rating of “Hold” from the six research firms that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $12.13.

PERI has been the subject of a number of analyst reports. Stifel Nicolaus dropped their price target on Perion Network from $9.00 to $7.50 and set a “hold” rating for the company in a research report on Monday, October 14th. Lake Street Capital upgraded Perion Network from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Wednesday, July 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a research report on Thursday, August 1st.

Institutional Trading of Perion Network

A number of hedge funds and other institutional investors have recently bought and sold shares of PERI. PNC Financial Services Group Inc. raised its stake in Perion Network by 16.1% in the fourth 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. Lifestyle Asset Management Inc. acquired a new stake in Perion Network in the first quarter valued at $230,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in Perion Network by 18.8% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,943,795 shares of the technology company’s stock valued at $88,657,000 after buying an additional 624,441 shares in the last quarter. Capstone Investment Advisors LLC acquired a new stake in Perion Network in the first quarter valued at $812,000. Finally, Wakefield Asset Management LLLP raised its stake in Perion Network by 39.0% in the first quarter. Wakefield Asset Management LLLP now owns 40,087 shares of the technology company’s stock valued at $901,000 after buying an additional 11,254 shares in the last quarter. 68.12% of the stock is currently owned by institutional investors and hedge funds.

Perion Network Price Performance

PERI stock opened at $7.89 on Friday. The business has a 50 day simple moving average of $8.18 and a 200-day simple moving average of $9.54. The firm has a market capitalization of $378.65 million, a PE ratio of 3.76, a price-to-earnings-growth ratio of 0.39 and a beta of 1.48. Perion Network has a 1 year low of $7.47 and a 1 year high of $32.99.

Perion Network (NASDAQ:PERI) last posted its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The business had revenue of $108.69 million during the quarter, compared to analyst estimates of $106.98 million. Perion Network had a return on equity of 15.65% and a net margin of 11.34%. On average, equities research analysts expect that Perion Network will post 0.91 EPS for the current year.

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.