Needham & Company LLC Reaffirms Hold Rating for Perion Network (NASDAQ:PERI)

Perion Network (NASDAQ:PERI)‘s stock had its “hold” rating reissued by equities researchers at Needham & Company LLC in a research note issued on Thursday,Benzinga reports.

Several other equities analysts have also recently issued reports on the company. StockNews.com downgraded Perion Network from a “hold” rating to a “sell” rating in a research report on Friday, April 4th. Lake Street Capital reiterated a “buy” rating and set a $10.50 price target (down previously from $11.00) on shares of Perion Network in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Perion Network has an average rating of “Hold” and a consensus price target of $12.00.

Perion Network Stock Up 2.3 %

Shares of PERI opened at $8.88 on Thursday. The company has a market cap of $398.05 million, a P/E ratio of 34.16, a PEG ratio of 0.76 and a beta of 1.35. Perion Network has a fifty-two week low of $7.00 and a fifty-two week high of $13.49. The firm’s 50 day moving average price is $8.35 and its 200 day moving average price is $8.51.

Perion Network (NASDAQ:PERI) last posted its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The company had revenue of $129.58 million for the quarter, compared to analysts’ expectations of $130.44 million. Perion Network had a return on equity of 5.55% and a net margin of 2.53%. Research analysts forecast that Perion Network will post 0.51 earnings per share for the current year.

Hedge Funds Weigh In On Perion Network

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PERI. Private Capital Management LLC grew its position in shares of Perion Network by 33.4% in the 3rd quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company’s stock valued at $18,816,000 after buying an additional 598,228 shares during the last quarter. Systematic Financial Management LP lifted its holdings in shares of Perion Network by 38.3% in the 4th quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company’s stock valued at $5,489,000 after purchasing an additional 179,557 shares during the last quarter. Y.D. More Investments Ltd grew its stake in Perion Network by 10.3% during the 4th quarter. Y.D. More Investments Ltd now owns 391,332 shares of the technology company’s stock worth $3,346,000 after buying an additional 36,624 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Perion Network by 39.5% in the third quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company’s stock valued at $2,984,000 after buying an additional 107,278 shares during the last quarter. Finally, Clearline Capital LP grew its position in shares of Perion Network by 20.5% during the fourth quarter. Clearline Capital LP now owns 339,705 shares of the technology company’s stock worth $2,877,000 after acquiring an additional 57,880 shares during the last quarter. 68.12% of the stock is 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 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.