Perion Network Ltd. (NASDAQ:PERI) Receives Average Rating of “Hold” from Brokerages

Perion Network Ltd. (NASDAQ:PERI) has received an average rating of “Hold” from the six brokerages that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $13.67.

PERI has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a report on Thursday, August 1st. Oppenheimer cut Perion Network from an “outperform” rating to a “market perform” rating in a report on Monday, June 10th. StockNews.com cut Perion Network from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Finally, Lake Street Capital raised Perion Network from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Wednesday, July 31st.

Hedge Funds Weigh In On Perion Network

Institutional investors and hedge funds have recently bought and sold shares of the stock. 1492 Capital Management LLC grew its position in Perion Network by 0.9% during the 4th quarter. 1492 Capital Management LLC now owns 188,185 shares of the technology company’s stock worth $5,809,000 after acquiring an additional 1,751 shares during the last quarter. ARK Investment Management LLC grew its position in Perion Network by 156.9% during the 2nd quarter. ARK Investment Management LLC now owns 192,002 shares of the technology company’s stock worth $1,603,000 after acquiring an additional 117,253 shares during the last quarter. BNP Paribas Financial Markets grew its position in Perion Network by 75.3% during the 4th quarter. BNP Paribas Financial Markets now owns 142,569 shares of the technology company’s stock worth $4,401,000 after acquiring an additional 61,249 shares during the last quarter. GSA Capital Partners LLP bought a new position in Perion Network during the 1st quarter worth approximately $820,000. Finally, Vanguard Group Inc. grew its position in Perion Network by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 1,485,179 shares of the technology company’s stock worth $33,387,000 after acquiring an additional 35,476 shares during the last quarter. 68.12% of the stock is currently owned by institutional investors.

Perion Network Stock Up 1.1 %

NASDAQ:PERI opened at $8.38 on Thursday. The business’s 50-day moving average price is $8.48 and its two-hundred day moving average price is $13.08. Perion Network has a twelve month low of $7.47 and a twelve month high of $36.07. The stock has a market cap of $402.16 million, a P/E ratio of 3.99, a PEG ratio of 0.43 and a beta of 1.41.

Perion Network (NASDAQ:PERI) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. Perion Network had a return on equity of 15.65% and a net margin of 11.34%. The firm had revenue of $108.69 million for the quarter, compared to analysts’ expectations of $106.98 million. On average, equities research analysts expect that Perion Network will post 0.91 EPS for the current fiscal year.

Perion Network Company Profile

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.