Altshuler Shaham Ltd Buys Shares of 84,000 Perion Network Ltd. (NASDAQ:PERI)

Altshuler Shaham Ltd purchased a new stake in Perion Network Ltd. (NASDAQ:PERI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 84,000 shares of the technology company’s stock, valued at approximately $696,000.

Other hedge funds have also modified their holdings of the company. Principal Securities Inc. bought a new stake in Perion Network in the fourth quarter valued at approximately $49,000. BigSur Wealth Management LLC acquired a new position in Perion Network in the second quarter valued at about $84,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Perion Network by 17.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,244 shares of the technology company’s stock valued at $128,000 after purchasing an additional 2,299 shares in the last quarter. Van ECK Associates Corp increased its stake in Perion Network by 9.7% during the 2nd quarter. Van ECK Associates Corp now owns 16,540 shares of the technology company’s stock worth $138,000 after purchasing an additional 1,468 shares in the last quarter. Finally, Riverwater Partners LLC acquired a new stake in Perion Network during the 2nd quarter worth approximately $157,000. 68.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PERI shares. Oppenheimer lowered shares of Perion Network from an “outperform” rating to a “market perform” rating in a research note on Monday, June 10th. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a report on Thursday, August 1st. Finally, Lake Street Capital raised Perion Network from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $13.67.

Perion Network Trading Down 4.4 %

Perion Network stock opened at $8.00 on Monday. The stock’s 50 day moving average is $8.42 and its 200-day moving average is $11.76. Perion Network Ltd. has a 12 month low of $7.47 and a 12 month high of $32.99. The company has a market capitalization of $383.93 million, a price-to-earnings ratio of 3.81, a PEG ratio of 0.42 and a beta of 1.48.

Perion Network (NASDAQ:PERI) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The company had revenue of $108.69 million during the quarter, compared to the consensus estimate of $106.98 million. Perion Network had a net margin of 11.34% and a return on equity of 15.65%. As a group, equities research analysts predict that Perion Network Ltd. will post 0.91 earnings per share for the current fiscal year.

Perion Network 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.