Perion Network (NASDAQ:PERI) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Perion Network (NASDAQ:PERI) from a hold rating to a buy rating in a report published on Monday.

Several other research analysts have also recently commented on the stock. Roth Capital cut shares of Perion Network from a buy rating to a neutral rating in a report on Tuesday, April 9th. Roth Mkm reissued a neutral rating and issued a $13.00 target price (down previously from $35.00) on shares of Perion Network in a report on Tuesday, April 9th. Needham & Company LLC lowered their price objective on Perion Network from $35.00 to $18.00 and set a buy rating for the company in a research report on Monday, April 8th. Finally, Lake Street Capital reissued a hold rating and set a $16.00 target price on shares of Perion Network in a research report on Monday, April 8th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Perion Network has a consensus rating of Hold and a consensus price target of $25.80.

Perion Network Trading Down 3.4 %

Shares of NASDAQ PERI opened at $12.22 on Monday. The stock has a market cap of $586.45 million, a P/E ratio of 5.22, a PEG ratio of 0.40 and a beta of 1.37. The business’s fifty day simple moving average is $17.44 and its 200-day simple moving average is $24.21. Perion Network has a 12-month low of $10.77 and a 12-month high of $36.86.

Perion Network (NASDAQ:PERI) last announced its quarterly earnings data on Wednesday, February 7th. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.11. Perion Network had a return on equity of 23.06% and a net margin of 15.80%. The business had revenue of $234.23 million during the quarter, compared to analysts’ expectations of $233.09 million. During the same quarter last year, the business posted $0.84 EPS. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities analysts forecast that Perion Network will post 1.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Perion Network in the 3rd quarter valued at $2,573,000. Blue Trust Inc. raised its holdings in shares of Perion Network by 42.3% in the fourth quarter. Blue Trust Inc. now owns 1,658 shares of the technology company’s stock valued at $51,000 after buying an additional 493 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Perion Network by 1.9% in the third quarter. Vanguard Group Inc. now owns 1,435,197 shares of the technology company’s stock valued at $43,960,000 after buying an additional 26,181 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Perion Network during the third quarter worth about $365,000. Finally, Origin Asset Management LLP grew its holdings in shares of Perion Network by 69.5% during the third quarter. Origin Asset Management LLP now owns 117,032 shares of the technology company’s stock worth $3,585,000 after buying an additional 48,000 shares during the last quarter. 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.