Analysts Set Perion Network Ltd. (NASDAQ:PERI) PT at $11.00

Shares of Perion Network Ltd. (NASDAQ:PERI) have earned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $12.13.

A number of equities analysts have recently issued reports on PERI shares. Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a report on Wednesday. Roth Capital set a $14.00 price target on shares of Perion Network in a report on Wednesday. StockNews.com downgraded shares of Perion Network from a “hold” rating to a “sell” rating in a report on Tuesday. Lake Street Capital increased their price target on shares of Perion Network from $10.50 to $13.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Roth Mkm upgraded shares of Perion Network from a “neutral” rating to a “buy” rating and increased their price target for the company from $9.00 to $14.00 in a report on Wednesday.

Hedge Funds Weigh In On Perion Network

Several hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its holdings in Perion Network by 23.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 343,723 shares of the technology company’s stock valued at $2,798,000 after acquiring an additional 64,442 shares in the last quarter. Murchinson Ltd. purchased a new position in Perion Network during the 1st quarter valued at about $2,274,000. NewEdge Advisors LLC purchased a new position in Perion Network during the 1st quarter valued at about $160,000. PDT Partners LLC increased its holdings in Perion Network by 23.9% during the 1st quarter. PDT Partners LLC now owns 142,640 shares of the technology company’s stock valued at $1,161,000 after acquiring an additional 27,543 shares in the last quarter. Finally, Caption Management LLC purchased a new position in Perion Network during the 1st quarter valued at about $60,000. 68.12% of the stock is currently owned by hedge funds and other institutional investors.

Perion Network Stock Performance

PERI stock opened at $10.72 on Wednesday. Perion Network has a one year low of $7.00 and a one year high of $12.74. The stock has a market capitalization of $480.52 million, a PE ratio of 41.23, a price-to-earnings-growth ratio of 0.76 and a beta of 1.47. The company has a fifty day moving average of $8.71 and a 200-day moving average of $8.73.

Perion Network (NASDAQ:PERI) last released its earnings results on Wednesday, February 19th. The technology company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.15). Perion Network had a return on equity of 5.55% and a net margin of 2.53%. The firm had revenue of $129.58 million during the quarter, compared to analyst estimates of $130.44 million. Equities analysts forecast that Perion Network will post 0.51 earnings per share 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.