Canaccord Genuity Group Initiates Coverage on Perion Network (NASDAQ:PERI)

Investment analysts at Canaccord Genuity Group assumed coverage on shares of Perion Network (NASDAQ:PERI) in a research note issued on Friday, Marketbeat Ratings reports. The firm set a “buy” rating and a $14.00 price target on the technology company’s stock. Canaccord Genuity Group’s price objective suggests a potential upside of 45.38% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Perion Network in a research note on Thursday, January 22nd. Wall Street Zen cut shares of Perion Network from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Lake Street Capital set a $14.00 price objective on shares of Perion Network in a research report on Thursday, February 19th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Perion Network presently has a consensus rating of “Moderate Buy” and an average target price of $14.13.

Perion Network Stock Performance

PERI stock opened at $9.63 on Friday. The firm has a 50 day moving average price of $8.86 and a 200-day moving average price of $9.37. Perion Network has a 52-week low of $6.99 and a 52-week high of $11.79. The firm has a market capitalization of $375.86 million, a price-to-earnings ratio of -53.50, a PEG ratio of 0.87 and a beta of 1.45.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings results on Wednesday, February 18th. The technology company reported $0.49 EPS for the quarter, hitting analysts’ consensus estimates of $0.49. Perion Network had a positive return on equity of 3.38% and a negative net margin of 1.80%.The firm had revenue of $137.14 million for the quarter, compared to analysts’ expectations of $136.53 million. As a group, sell-side analysts forecast that Perion Network will post 0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Perion Network

Several institutional investors and hedge funds have recently added to or reduced their stakes in PERI. Private Capital Management LLC raised its stake in Perion Network by 16.8% during the 3rd quarter. Private Capital Management LLC now owns 3,751,278 shares of the technology company’s stock valued at $36,012,000 after buying an additional 538,375 shares during the last quarter. Stableford Capital II LLC boosted its stake in shares of Perion Network by 173.5% in the 4th quarter. Stableford Capital II LLC now owns 215,960 shares of the technology company’s stock worth $2,069,000 after buying an additional 136,999 shares during the last quarter. Tripletail Wealth Management LLC boosted its stake in shares of Perion Network by 1,066.7% in the 4th quarter. Tripletail Wealth Management LLC now owns 113,520 shares of the technology company’s stock worth $1,088,000 after buying an additional 103,790 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Perion Network by 165.8% in the second quarter. JPMorgan Chase & Co. now owns 162,617 shares of the technology company’s stock worth $1,651,000 after acquiring an additional 101,446 shares during the period. Finally, Millennium Management LLC bought a new stake in shares of Perion Network in the third quarter worth $837,000. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Perion Network Company Profile

Perion Network Ltd. (NASDAQ: PERI) is a digital advertising technology company that offers a suite of solutions designed for both brand marketers and performance-driven advertisers. The firm’s platform integrates search monetization, programmatic display, video and connected TV (CTV) advertising to help clients reach and engage audiences across desktop, mobile and television environments. Through proprietary algorithms and AI-driven tools, Perion’s technology optimizes ad placements in real time, aiming to boost campaign efficiency and return on investment for publishers and advertisers alike.

Key offerings include search engine marketing services that cover major platforms such as Google and Bing, native and display advertising solutions under its Undertone brand, as well as social and video ad formats.