Perion Network (NASDAQ:PERI) Sets New 1-Year Low at $10.86

Perion Network Ltd. (NASDAQ:PERI)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $10.86 and last traded at $10.87, with a volume of 313357 shares changing hands. The stock had previously closed at $10.98.

Analyst Ratings Changes

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

Perion Network Trading Up 4.4 %

The company has a fifty day moving average of $19.97 and a two-hundred day moving average of $25.41. The stock has a market capitalization of $544.69 million, a price-to-earnings ratio of 4.85, a price-to-earnings-growth ratio of 0.34 and a beta of 1.24.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Allworth Financial LP boosted its position in shares of Perion Network by 0.8% in the fourth quarter. Allworth Financial LP now owns 60,676 shares of the technology company’s stock valued at $1,873,000 after acquiring an additional 464 shares during the period. Blue Trust Inc. boosted its position in shares of Perion Network by 42.3% in the fourth quarter. Blue Trust Inc. now owns 1,658 shares of the technology company’s stock valued at $51,000 after acquiring an additional 493 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Perion Network by 12.0% in the third quarter. Bank of New York Mellon Corp now owns 7,353 shares of the technology company’s stock valued at $225,000 after acquiring an additional 786 shares during the period. Ronald Blue Trust Inc. boosted its position in shares of Perion Network by 227.2% in the third quarter. Ronald Blue Trust Inc. now owns 1,165 shares of the technology company’s stock valued at $36,000 after acquiring an additional 809 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Perion Network by 16.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,105 shares of the technology company’s stock valued at $188,000 after acquiring an additional 847 shares during the period. 68.12% of the stock is currently owned by institutional investors and hedge funds.

About Perion Network

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.