Perion Network’s (PERI) “Buy” Rating Reaffirmed at Lake Street Capital

Perion Network (NASDAQ:PERI)‘s stock had its “buy” rating reaffirmed by analysts at Lake Street Capital in a research report issued on Wednesday,Benzinga reports. They currently have a $10.50 price objective on the technology company’s stock, down from their prior price objective of $11.00. Lake Street Capital’s target price points to a potential upside of 22.95% from the company’s previous close.

Separately, Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a report on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.25.

Perion Network Stock Performance

PERI stock opened at $8.54 on Wednesday. The company’s 50 day moving average price is $8.89 and its 200 day moving average price is $8.55. Perion Network has a fifty-two week low of $7.47 and a fifty-two week high of $23.74. The firm has a market capitalization of $382.85 million, a price-to-earnings ratio of 9.18, a PEG ratio of 0.87 and a beta of 1.48.

Perion Network (NASDAQ:PERI) last released its earnings results on Wednesday, February 19th. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The firm 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 10.93% and a net margin of 7.81%. Equities analysts forecast that Perion Network will post 0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Perion Network

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Private Capital Management LLC lifted its holdings in Perion Network by 33.4% in the third quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company’s stock valued at $18,816,000 after acquiring an additional 598,228 shares during the period. Systematic Financial Management LP increased its position in shares of Perion Network by 38.3% in the fourth quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company’s stock valued at $5,489,000 after buying an additional 179,557 shares in the last quarter. Y.D. More Investments Ltd increased its position in shares of Perion Network by 10.3% in the fourth quarter. Y.D. More Investments Ltd now owns 391,332 shares of the technology company’s stock valued at $3,346,000 after buying an additional 36,624 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Perion Network by 39.5% in the third quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company’s stock valued at $2,984,000 after buying an additional 107,278 shares in the last quarter. Finally, Clearline Capital LP increased its position in shares of Perion Network by 20.5% in the fourth quarter. Clearline Capital LP now owns 339,705 shares of the technology company’s stock valued at $2,877,000 after buying an additional 57,880 shares in the last quarter. Institutional investors and hedge funds 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.