Perion Network Ltd. (NASDAQ:PERI) Stock Position Boosted by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its stake in Perion Network Ltd. (NASDAQ:PERI) by 8.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,188,634 shares of the technology company’s stock after acquiring an additional 92,665 shares during the quarter. Victory Capital Management Inc.’s holdings in Perion Network were worth $36,693,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Perion Network by 11.7% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,319,354 shares of the technology company’s stock valued at $102,468,000 after purchasing an additional 346,610 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its position in shares of Perion Network by 14.2% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,651,441 shares of the technology company’s stock valued at $81,199,000 after purchasing an additional 330,000 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Perion Network by 12.8% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,299,039 shares of the technology company’s stock valued at $70,971,000 after purchasing an additional 260,000 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Perion Network by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,435,197 shares of the technology company’s stock valued at $43,960,000 after purchasing an additional 26,181 shares in the last quarter. Finally, Meitav Investment House Ltd. boosted its position in shares of Perion Network by 6.1% during the 4th quarter. Meitav Investment House Ltd. now owns 1,059,894 shares of the technology company’s stock valued at $32,684,000 after purchasing an additional 61,040 shares in the last quarter. Institutional investors own 68.12% of the company’s stock.

Perion Network Price Performance

NASDAQ PERI opened at $12.86 on Tuesday. The company has a 50 day simple moving average of $18.07 and a 200-day simple moving average of $24.46. The firm has a market capitalization of $617.15 million, a price-to-earnings ratio of 5.50, a price-to-earnings-growth ratio of 0.40 and a beta of 1.37. Perion Network Ltd. has a 52-week low of $10.77 and a 52-week high of $36.86.

Perion Network (NASDAQ:PERI) last posted its quarterly earnings results on Wednesday, February 7th. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The business had revenue of $234.23 million during the quarter, compared to analyst estimates 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 in the prior year, the firm earned $0.84 earnings per share. On average, analysts predict that Perion Network Ltd. will post 1.45 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Roth Capital lowered shares of Perion Network from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 9th. StockNews.com raised shares of Perion Network from a “hold” rating to a “buy” rating in a research note on Monday. Needham & Company LLC reduced their price objective on shares of Perion Network from $35.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, April 8th. Lake Street Capital reaffirmed a “hold” rating and set a $16.00 price objective on shares of Perion Network in a research note on Monday, April 8th. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $13.00 price objective (down from $35.00) on shares of Perion Network in a research note on Tuesday, April 9th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Perion Network presently has an average rating of “Hold” and an average target price of $25.80.

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.