Perion Network’s (PERI) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Perion Network (NASDAQ:PERI) in a research report sent to investors on Thursday,Benzinga reports.

Perion Network Stock Performance

Shares of NASDAQ:PERI opened at $8.52 on Thursday. Perion Network has a 52-week low of $7.47 and a 52-week high of $23.74. The company has a market capitalization of $381.95 million, a P/E ratio of 32.77, a price-to-earnings-growth ratio of 0.76 and a beta of 1.48. The company has a 50-day simple moving average of $8.88 and a 200 day simple moving average of $8.56.

Perion Network (NASDAQ:PERI) last issued its earnings results on Wednesday, February 19th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $130.44 million. As a group, equities analysts forecast that Perion Network will post 0.51 earnings per share for the current year.

Institutional Investors Weigh In On Perion Network

Several hedge funds have recently bought and sold shares of the stock. Private Capital Management LLC lifted its position in Perion Network by 33.4% during the third quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company’s stock worth $18,816,000 after acquiring an additional 598,228 shares during the last quarter. Systematic Financial Management LP lifted its position in Perion Network by 38.3% during the fourth quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company’s stock worth $5,489,000 after acquiring an additional 179,557 shares during the last quarter. Y.D. More Investments Ltd lifted its position in Perion Network by 10.3% during the fourth quarter. Y.D. More Investments Ltd now owns 391,332 shares of the technology company’s stock worth $3,346,000 after acquiring an additional 36,624 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of 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 in the last quarter. Finally, Clearline Capital LP raised its position in shares of 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 in the last quarter. 68.12% of the stock is currently owned by institutional investors and hedge funds.

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.