StockNews.com Lowers Perion Network (NASDAQ:PERI) to Buy

Perion Network (NASDAQ:PERIGet Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

Several other research firms have also issued reports on PERI. Oppenheimer decreased their price target on shares of Perion Network from $35.00 to $30.00 in a research report on Thursday, February 10th. Zacks Investment Research upgraded shares of Perion Network from a “hold” rating to a “strong-buy” rating and set a $25.00 price target on the stock in a research report on Friday, May 6th. Finally, Raymond James decreased their price target on shares of Perion Network from $31.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday, February 10th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $30.00.

Shares of PERI opened at $19.56 on Friday. The company has a market capitalization of $854.71 million, a PE ratio of 15.77, a price-to-earnings-growth ratio of 0.47 and a beta of 1.28. Perion Network has a one year low of $15.31 and a one year high of $33.09. The company’s fifty day moving average price is $22.13 and its 200 day moving average price is $22.77.

Perion Network (NASDAQ:PERIGet Rating) last announced its earnings results on Thursday, April 28th. The technology company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.33 by $0.11. The firm had revenue of $125.30 million for the quarter, compared to the consensus estimate of $122.02 million. Perion Network had a net margin of 9.90% and a return on equity of 13.67%. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. As a group, equities research analysts forecast that Perion Network will post 1.59 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Perion Network during the fourth quarter worth approximately $228,000. Acadian Asset Management LLC increased its stake in Perion Network by 4.7% in the fourth quarter. Acadian Asset Management LLC now owns 1,417,263 shares of the technology company’s stock valued at $34,067,000 after purchasing an additional 63,852 shares in the last quarter. Essex Investment Management Co. LLC increased its stake in Perion Network by 5.8% in the fourth quarter. Essex Investment Management Co. LLC now owns 62,691 shares of the technology company’s stock valued at $1,508,000 after purchasing an additional 3,451 shares in the last quarter. Yorktown Management & Research Co Inc boosted its holdings in shares of Perion Network by 5.6% in the fourth quarter. Yorktown Management & Research Co Inc now owns 57,000 shares of the technology company’s stock valued at $1,371,000 after buying an additional 3,000 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Perion Network in the fourth quarter valued at approximately $72,000. 46.52% of the stock is owned by institutional investors.

About Perion Network (Get Rating)

Perion Network Ltd. provides digital advertising solutions to brands, agencies, and publishers in North America, Europe, and internationally. It provides 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.

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