Perion Network (NASDAQ:PERI) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Perion Network Ltd. (NASDAQ:PERI)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.53 and traded as high as $8.67. Perion Network shares last traded at $8.43, with a volume of 606,527 shares.

Analyst Ratings Changes

PERI has been the subject of a number of analyst reports. StockNews.com cut shares of Perion Network from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a report on Thursday, February 20th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $10.50 price objective (down previously from $11.00) on shares of Perion Network in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Perion Network currently has a consensus rating of “Hold” and a consensus target price of $12.25.

Perion Network Price Performance

The stock has a market cap of $377.87 million, a P/E ratio of 32.42, a price-to-earnings-growth ratio of 0.76 and a beta of 1.53. The stock’s 50 day simple moving average is $8.87 and its two-hundred day simple moving average is $8.53.

Perion Network (NASDAQ:PERI) last posted its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.15). The company had revenue of $129.58 million during the quarter, compared to the consensus estimate of $130.44 million. Perion Network had a net margin of 2.53% and a return on equity of 5.55%. As a group, analysts forecast that Perion Network Ltd. will post 0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in Perion Network in the 4th quarter valued at approximately $41,000. SBI Securities Co. Ltd. bought a new stake in shares of Perion Network in the fourth quarter worth $45,000. Perritt Capital Management Inc acquired a new position in Perion Network during the fourth quarter worth $127,000. Point72 Asset Management L.P. bought a new position in Perion Network in the third quarter valued at $134,000. Finally, XTX Topco Ltd bought a new position in Perion Network in the third quarter valued at $150,000. 68.12% of the stock is currently owned by 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.