Perion Network (NASDAQ:PERI) Upgraded at Roth Capital

Roth Capital upgraded shares of Perion Network (NASDAQ:PERI) from a neutral rating to a buy rating in a report released on Wednesday morning, MarketBeat Ratings reports. The firm currently has $15.00 target price on the technology company’s stock.

PERI has been the subject of a number of other research reports. Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a research note on Wednesday. StockNews.com cut shares of Perion Network from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Lake Street Capital reiterated a “buy” rating and issued a $10.50 target price (down previously from $11.00) on shares of Perion Network in a research note on Wednesday, February 19th. One 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $12.13.

Perion Network Price Performance

Perion Network stock opened at $10.72 on Wednesday. Perion Network has a 52-week low of $7.00 and a 52-week high of $12.74. 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 capitalization of $480.52 million, a P/E ratio of 41.23, a P/E/G ratio of 0.76 and a beta of 1.47.

Perion Network (NASDAQ:PERI) last posted its 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). Perion Network had a net margin of 2.53% and a return on equity of 5.55%. The firm had revenue of $129.58 million during the quarter, compared to the consensus estimate of $130.44 million. On average, equities research analysts predict that Perion Network will post 0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its position in Perion Network by 23.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 343,723 shares of the technology company’s stock worth $2,798,000 after purchasing an additional 64,442 shares during the last quarter. Murchinson Ltd. bought a new position in Perion Network in the 1st quarter worth approximately $2,274,000. NewEdge Advisors LLC bought a new position in Perion Network in the 1st quarter worth approximately $160,000. PDT Partners LLC grew 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 worth $1,161,000 after acquiring an additional 27,543 shares during the period. Finally, Caption Management LLC acquired a new stake in Perion Network during the 1st quarter worth $60,000. Institutional investors 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.