Perion Network Ltd. (NASDAQ:PERI) Receives Average Recommendation of “Hold” from Brokerages

Perion Network Ltd. (NASDAQ:PERI) has earned an average rating of “Hold” from the six research firms that are covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $12.25.

Several brokerages have recently commented on PERI. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a research report on Thursday, February 20th. StockNews.com downgraded shares of Perion Network from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Finally, Lake Street Capital restated a “buy” rating and set a $10.50 price objective (down from $11.00) on shares of Perion Network in a research report on Wednesday, February 19th.

Perion Network Price Performance

Shares of Perion Network stock opened at $8.30 on Thursday. The company’s fifty day simple moving average is $8.88 and its 200-day simple moving average is $8.55. The stock has a market capitalization of $372.05 million, a PE ratio of 31.92, a P/E/G ratio of 0.76 and a beta of 1.48. Perion Network has a 1-year low of $7.47 and a 1-year high of $23.08.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings results on Wednesday, February 19th. The technology company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.15). The business 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%. As a group, research analysts anticipate that Perion Network will post 0.51 EPS for the current year.

Institutional Trading of Perion Network

A number of institutional investors and hedge funds have recently bought and sold shares of PERI. Private Capital Management LLC increased its holdings in Perion Network by 33.4% in the 3rd quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company’s stock valued at $18,816,000 after acquiring an additional 598,228 shares during the last quarter. Clearline Capital LP bought a new stake in Perion Network in the 3rd quarter valued at $2,221,000. Systematic Financial Management LP increased its holdings 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 acquiring an additional 179,557 shares during the last quarter. Sphera Management Technology Funds Ltd bought a new stake in Perion Network in the 4th quarter valued at $995,000. Finally, JPMorgan Chase & Co. increased its holdings in Perion Network by 39.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company’s stock valued at $2,984,000 after acquiring an additional 107,278 shares during the last quarter. 68.12% of the stock is currently owned by institutional investors.

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.