Perion Network (NASDAQ:PERI) Raised to Hold at StockNews.com

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

Several other research firms also recently commented on PERI. Lake Street Capital reissued 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, February 19th. Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.25.

Perion Network Stock Performance

Perion Network stock opened at $8.16 on Thursday. Perion Network has a fifty-two week low of $7.47 and a fifty-two week high of $22.65. The stock has a market cap of $365.77 million, a P/E ratio of 31.39, a price-to-earnings-growth ratio of 0.76 and a beta of 1.53. The firm’s fifty day moving average price is $8.75 and its 200-day moving average price is $8.52.

Perion Network (NASDAQ:PERI) last released its quarterly earnings results on Wednesday, February 19th. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). Perion Network had a net margin of 2.53% and a return on equity of 5.55%. The firm had revenue of $129.58 million for the quarter, compared to analysts’ expectations of $130.44 million. On average, analysts predict that Perion Network will post 0.51 earnings per share for the current year.

Institutional Investors Weigh In On Perion Network

Several institutional investors have recently added to or reduced their stakes in PERI. Russell Investments Group Ltd. bought a new position in shares of Perion Network during the fourth quarter valued at about $41,000. SBI Securities Co. Ltd. bought a new position in Perion Network in the fourth quarter worth about $45,000. Perritt Capital Management Inc bought a new position in shares of Perion Network in the 4th quarter worth approximately $127,000. Point72 Asset Management L.P. bought a new stake in shares of Perion Network in the 3rd quarter worth approximately $134,000. Finally, XTX Topco Ltd purchased a new stake in Perion Network during the 3rd quarter valued at about $150,000. Hedge funds and other institutional investors own 68.12% of the company’s stock.

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.