Oppenheimer & Co. Inc. purchased a new stake in shares of Perion Network Ltd. (NASDAQ:PERI – Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,610 shares of the technology company’s stock, valued at approximately $420,000.
A number of other large investors have also made changes to their positions in the company. BNP Paribas Arbitrage SNC bought a new position in shares of Perion Network during the 3rd quarter valued at approximately $58,000. State of Wyoming bought a new position in shares of Perion Network during the 4th quarter valued at approximately $61,000. Deutsche Bank AG bought a new position in shares of Perion Network during the 4th quarter valued at approximately $71,000. Amundi bought a new position in Perion Network in the 4th quarter worth approximately $104,000. Finally, WealthPLAN Partners LLC bought a new position in Perion Network in the 1st quarter worth approximately $123,000. 60.75% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
PERI has been the subject of several recent analyst reports. Stifel Nicolaus upped their price target on Perion Network from $36.00 to $37.00 in a research note on Friday, July 21st. Lake Street Capital upped their price target on Perion Network from $38.00 to $40.00 in a research note on Thursday, May 4th. 22nd Century Group restated a “reiterates” rating on shares of Perion Network in a research note on Tuesday, June 13th. StockNews.com initiated coverage on Perion Network in a research note on Saturday, August 19th. They issued a “buy” rating for the company. Finally, VNET Group restated a “reiterates” rating on shares of Perion Network in a research note on Tuesday, June 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.60.
Perion Network Stock Performance
NASDAQ:PERI opened at $33.60 on Wednesday. Perion Network Ltd. has a fifty-two week low of $18.81 and a fifty-two week high of $42.75. The stock’s fifty day moving average is $33.98 and its 200 day moving average is $34.60. The firm has a market capitalization of $1.55 billion, a PE ratio of 15.07, a PEG ratio of 0.51 and a beta of 1.25.
Perion Network (NASDAQ:PERI – Get Free Report) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.13. Perion Network had a return on equity of 22.62% and a net margin of 15.82%. The business had revenue of $178.47 million for the quarter, compared to the consensus estimate of $176.00 million. Equities analysts forecast that Perion Network Ltd. will post 2.95 EPS for the current year.
Perion Network Profile
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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