Perion Network (NASDAQ:PERI) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Perion Network (NASDAQ:PERI) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

A number of other equities research analysts have also recently weighed in on the stock. Lake Street Capital reissued a “buy” rating and issued a $10.50 price target (down from $11.00) on shares of Perion Network in a research report on Wednesday, February 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $12.25.

Perion Network Stock Up 0.2 %

NASDAQ PERI opened at $8.16 on Thursday. Perion Network has a 52 week low of $7.47 and a 52 week high of $22.65. The firm has a 50 day moving average of $8.75 and a two-hundred day moving average of $8.52. The stock has a market capitalization of $365.77 million, a PE ratio of 31.39, a price-to-earnings-growth ratio of 0.76 and a beta of 1.53.

Perion Network (NASDAQ:PERI) last released its quarterly earnings data 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). The firm had revenue of $129.58 million for the quarter, compared to analysts’ expectations of $130.44 million. Perion Network had a return on equity of 5.55% and a net margin of 2.53%. On average, equities research analysts expect that Perion Network will post 0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sphera Management Technology Funds Ltd purchased a new stake in shares of Perion Network during the 4th quarter worth $995,000. Two Sigma Advisers LP lifted its position in shares of Perion Network by 2.2% during the 4th 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 during the period. Two Sigma Investments LP boosted its stake in shares of Perion Network by 5.0% during the 4th quarter. Two Sigma Investments LP now owns 200,862 shares of the technology company’s stock worth $1,701,000 after acquiring an additional 9,592 shares in the last quarter. State of Wyoming grew its holdings in shares of Perion Network by 217.2% in the 4th quarter. State of Wyoming now owns 19,676 shares of the technology company’s stock worth $167,000 after acquiring an additional 13,472 shares during the period. Finally, Systematic Financial Management LP increased its stake in Perion Network by 38.3% in the 4th quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company’s stock valued at $5,489,000 after purchasing an additional 179,557 shares in the last quarter. Institutional investors and hedge funds 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.