Lake Street Capital Reaffirms “Buy” Rating for Perion Network (NASDAQ:PERI)

Perion Network (NASDAQ:PERI)‘s stock had its “buy” rating reissued by research analysts at Lake Street Capital in a report issued on Wednesday,Benzinga reports. They presently have a $10.50 price objective on the technology company’s stock, down from their prior price objective of $11.00. Lake Street Capital’s price target suggests a potential upside of 22.95% from the company’s current price.

Separately, Needham & Company LLC restated a “hold” rating on shares of Perion Network in a research note on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $12.25.

Perion Network Stock Down 0.1 %

Shares of Perion Network stock opened at $8.54 on Wednesday. The firm’s 50 day moving average price is $8.89 and its 200-day moving average price is $8.55. Perion Network has a 52-week low of $7.47 and a 52-week high of $23.74. The company has a market cap of $382.85 million, a P/E ratio of 9.18, a PEG ratio of 0.87 and a beta of 1.48.

Perion Network (NASDAQ:PERI) last released its earnings results on Wednesday, February 19th. The technology company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The company had revenue of $129.58 million during the quarter, compared to analyst estimates of $130.44 million. Perion Network had a return on equity of 10.93% and a net margin of 7.81%. As a group, equities research analysts forecast that Perion Network will post 0.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Private Capital Management LLC boosted its position in shares of Perion Network by 33.4% during the 3rd quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company’s stock valued at $18,816,000 after acquiring an additional 598,228 shares during the last quarter. Systematic Financial Management LP boosted its position in shares of Perion Network by 38.3% during the 4th quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company’s stock valued at $5,489,000 after acquiring an additional 179,557 shares during the last quarter. Y.D. More Investments Ltd boosted its position in shares of Perion Network by 10.3% during the 4th quarter. Y.D. More Investments Ltd now owns 391,332 shares of the technology company’s stock valued at $3,346,000 after acquiring an additional 36,624 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Perion Network by 39.5% in the third quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company’s stock valued at $2,984,000 after buying an additional 107,278 shares during the last quarter. Finally, Clearline Capital LP lifted its position in Perion Network by 20.5% in the fourth quarter. Clearline Capital LP now owns 339,705 shares of the technology company’s stock valued at $2,877,000 after buying an additional 57,880 shares during the last quarter. Institutional investors and hedge funds own 68.12% of the company’s stock.

Perion Network Company Profile

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.