Perion Network (NASDAQ:PERI) Sets New 1-Year Low at $12.03

Perion Network Ltd. (NASDAQ:PERI)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $12.03 and last traded at $12.09, with a volume of 351661 shares. The stock had previously closed at $12.58.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PERI shares. Roth Capital lowered shares of Perion Network from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 9th. Lake Street Capital reissued a “hold” rating and issued a $16.00 target price on shares of Perion Network in a report on Monday, April 8th. StockNews.com lowered shares of Perion Network from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Roth Mkm reissued a “neutral” rating and issued a $13.00 target price (down from $35.00) on shares of Perion Network in a report on Tuesday, April 9th. Finally, Needham & Company LLC decreased their target price on shares of Perion Network from $35.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, April 8th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Perion Network has an average rating of “Hold” and a consensus price target of $25.80.

Perion Network Stock Performance

The company has a market capitalization of $570.60 million, a P/E ratio of 5.08, a price-to-earnings-growth ratio of 0.40 and a beta of 1.24. The firm’s fifty day moving average is $21.20 and its 200-day moving average is $26.08.

Perion Network (NASDAQ:PERI) last posted its earnings results on Wednesday, February 7th. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.93 by $0.11. The business had revenue of $234.23 million for the quarter, compared to the consensus estimate of $233.09 million. Perion Network had a net margin of 15.80% and a return on equity of 23.06%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company earned $0.84 EPS. As a group, analysts expect that Perion Network Ltd. will post 1.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PERI. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Perion Network in the 3rd quarter valued at $2,573,000. Blue Trust Inc. grew its stake in shares of Perion Network by 42.3% in the 4th quarter. Blue Trust Inc. now owns 1,658 shares of the technology company’s stock worth $51,000 after acquiring an additional 493 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Perion Network by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,435,197 shares of the technology company’s stock worth $43,960,000 after acquiring an additional 26,181 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Perion Network in the 3rd quarter worth $365,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Perion Network by 4.1% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,039,039 shares of the technology company’s stock worth $62,456,000 after acquiring an additional 80,000 shares in the last quarter. Institutional investors and hedge funds own 68.12% of the company’s stock.

Perion Network Company 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.