Perion Network (NASDAQ:PERI) Upgraded at Roth Mkm

Roth Mkm upgraded shares of Perion Network (NASDAQ:PERI) from a neutral rating to a buy rating in a research note released on Wednesday,Benzinga reports. Roth Mkm currently has $14.00 price target on the technology company’s stock, up from their previous price target of $9.00.

Other equities research analysts also recently issued research reports about the company. Lake Street Capital reaffirmed a “buy” rating and issued a $10.50 price objective (down previously from $11.00) on shares of Perion Network in a research report on Wednesday, February 19th. StockNews.com downgraded Perion Network from a “hold” rating to a “sell” rating in a research report on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a research report on Wednesday. Finally, Roth Capital set a $14.00 price objective on Perion Network in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $12.13.

Perion Network Stock Performance

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

Perion Network (NASDAQ:PERI) last released its quarterly earnings results on Wednesday, February 19th. The technology company reported $0.19 earnings per share for the quarter, missing the consensus estimate 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%. On average, analysts forecast that Perion Network will post 0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Perion Network

A number of institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its position in Perion Network by 23.1% during the first 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 during the period. Murchinson Ltd. purchased a new stake in Perion Network during the first quarter valued at about $2,274,000. NewEdge Advisors LLC purchased a new stake in Perion Network during the first quarter valued at about $160,000. PDT Partners LLC grew its position in Perion Network by 23.9% during the first 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 during the period. Finally, Caption Management LLC purchased a new stake in Perion Network during the first quarter valued at about $60,000. Hedge funds and other institutional investors own 68.12% of the company’s stock.

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.