Perion Network (NASDAQ:PERI) Price Target Raised to $13.00

Perion Network (NASDAQ:PERI) had its price objective raised by Lake Street Capital from $10.50 to $13.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other brokerages have also issued reports on PERI. Roth Capital set a $14.00 price target on Perion Network in a research note on Wednesday. Roth Mkm raised 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 research note on Wednesday. StockNews.com lowered Perion Network from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.13.

Perion Network Stock Performance

Shares of NASDAQ PERI opened at $10.72 on Wednesday. The stock has a fifty day moving average price of $8.71 and a two-hundred day moving average price of $8.73. The firm has a market cap of $480.52 million, a P/E ratio of 41.23, a PEG ratio of 0.76 and a beta of 1.47. Perion Network has a 1 year low of $7.00 and a 1 year high of $12.74.

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

Institutional Investors Weigh In On Perion Network

Institutional investors and hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new stake in shares of Perion Network during the 4th quarter valued at $489,000. Y.D. More Investments Ltd lifted its position in shares of 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 valued at $3,346,000 after acquiring an additional 36,624 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Perion Network by 39.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company’s stock valued at $2,984,000 after acquiring an additional 107,278 shares during the last quarter. Private Capital Management LLC lifted its position in shares of Perion Network by 33.4% during 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 acquiring an additional 598,228 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Perion Network during the 4th quarter valued at $755,000. Institutional investors and hedge funds own 68.12% of the company’s stock.

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.