Perion Network (NASDAQ:PERI) Stock Rating Lowered by StockNews.com

Perion Network (NASDAQ:PERI) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Several other research analysts have also commented on PERI. Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a research note on Thursday. Lake Street Capital reaffirmed a “buy” rating and set a $10.50 price target (down from $11.00) on shares of Perion Network in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $12.25.

Perion Network Trading Down 0.2 %

Shares of NASDAQ PERI opened at $8.52 on Thursday. The stock has a market capitalization of $381.95 million, a price-to-earnings ratio of 32.77, a P/E/G ratio of 0.76 and a beta of 1.48. Perion Network has a 12-month low of $7.47 and a 12-month high of $23.74. The firm’s 50-day moving average price is $8.88 and its 200-day moving average price is $8.55.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The company had revenue of $129.58 million for the quarter, compared to analysts’ expectations of $130.44 million. Perion Network had a net margin of 2.53% and a return on equity of 5.54%. On average, equities analysts predict that Perion Network will post 0.51 EPS for the current fiscal year.

Institutional Trading of Perion Network

A number of large investors have recently made changes to their positions in PERI. Tidal Investments LLC lifted its holdings in Perion Network by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 50,338 shares of the technology company’s stock valued at $397,000 after buying an additional 2,225 shares in the last quarter. Perkins Capital Management Inc. raised its stake in shares of Perion Network by 4.2% during the fourth quarter. Perkins Capital Management Inc. now owns 55,450 shares of the technology company’s stock valued at $470,000 after acquiring an additional 2,240 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of Perion Network by 2.2% during the fourth quarter. Two Sigma Advisers LP now owns 116,600 shares of the technology company’s stock valued at $988,000 after acquiring an additional 2,500 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of Perion Network by 8.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 34,707 shares of the technology company’s stock valued at $294,000 after purchasing an additional 2,711 shares during the period. Finally, Russell Investments Group Ltd. bought a new position in Perion Network in the fourth quarter worth approximately $41,000. 68.12% of the stock is owned by hedge funds and other institutional investors.

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.