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

Canaccord Genuity Group assumed coverage on shares of Perion Network (NASDAQ:PERI) in a research note issued to investors on Friday. The brokerage set a “buy” rating and a $14.00 price target on the technology company’s stock. Canaccord Genuity Group’s price target indicates a potential upside of 55.56% from the stock’s current price.

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

Perion Network Price Performance

NASDAQ:PERI opened at $9.00 on Friday. Perion Network has a fifty-two week low of $6.99 and a fifty-two week high of $11.79. The stock has a market capitalization of $351.27 million, a PE ratio of -50.00, a price-to-earnings-growth ratio of 0.79 and a beta of 1.45. The business’s 50-day simple moving average is $8.86 and its 200-day simple moving average is $9.36.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings data on Wednesday, February 18th. The technology company reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. The business had revenue of $137.14 million during the quarter, compared to analyst estimates of $136.53 million. Perion Network had a positive return on equity of 3.38% and a negative net margin of 1.80%. On average, research analysts expect that Perion Network will post 0.51 earnings per share for the current year.

Hedge Funds Weigh In On Perion Network

A number of large investors have recently modified their holdings of PERI. Private Capital Management LLC grew its holdings in shares of Perion Network by 16.8% in 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 acquiring an additional 538,375 shares in the last quarter. Vanguard Group Inc. raised its holdings in Perion Network by 0.9% during the third quarter. Vanguard Group Inc. now owns 1,713,232 shares of the technology company’s stock worth $16,558,000 after acquiring an additional 14,563 shares in the last quarter. Systematic Financial Management LP boosted its position in Perion Network by 1.7% during the second quarter. Systematic Financial Management LP now owns 725,071 shares of the technology company’s stock valued at $7,359,000 after purchasing an additional 11,894 shares during the last quarter. CastleKnight Management LP grew its stake in Perion Network by 13.8% in the fourth quarter. CastleKnight Management LP now owns 479,020 shares of the technology company’s stock valued at $4,589,000 after purchasing an additional 58,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Perion Network by 23.1% during 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. 68.12% of the stock is currently owned by institutional investors and hedge funds.

About Perion Network

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.