Perion Network (NASDAQ:PERI) Upgraded to “Buy” by StockNews.com

Perion Network (NASDAQ:PERI) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

A number of other equities research analysts have also issued reports on PERI. Roth Capital cut Perion Network from a “buy” rating to a “neutral” rating in a report on Tuesday, April 9th. Needham & Company LLC decreased their target price on Perion Network from $35.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, April 8th. Lake Street Capital restated a “hold” rating and issued a $16.00 price target on shares of Perion Network in a report on Monday, April 8th. Finally, Roth Mkm reiterated a “neutral” rating and set a $13.00 price objective (down previously from $35.00) on shares of Perion Network in a report on Tuesday, April 9th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Perion Network currently has an average rating of “Hold” and an average target price of $25.80.

Perion Network Price Performance

PERI stock opened at $12.86 on Monday. Perion Network has a twelve month low of $10.77 and a twelve month high of $36.86. The stock 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. The firm’s fifty day simple moving average is $18.07 and its two-hundred day simple moving average is $24.46.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings results on Wednesday, February 7th. The technology company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.93 by $0.11. The company 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 in the prior year, the firm posted $0.84 EPS. As a group, equities research analysts expect that Perion Network will post 1.45 EPS for the current year.

Institutional Trading of Perion Network

A number of hedge funds have recently added to or reduced their stakes in PERI. Naples Money Management LLC bought a new stake in shares of Perion Network in the 4th quarter valued at about $29,000. Principal Securities Inc. bought a new position in Perion Network in the fourth quarter worth approximately $49,000. Blue Trust Inc. lifted its holdings in Perion Network by 42.3% during the fourth quarter. Blue Trust Inc. now owns 1,658 shares of the technology company’s stock worth $51,000 after buying an additional 493 shares during the period. AllSquare Wealth Management LLC boosted its position in Perion Network by 154.5% during the 3rd quarter. AllSquare Wealth Management LLC now owns 5,600 shares of the technology company’s stock valued at $172,000 after acquiring an additional 3,400 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Perion Network by 16.1% in the 4th 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 owned by hedge funds and other institutional investors.

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.