Perion Network Ltd. (NASDAQ:PERI) Given Average Recommendation of “Hold” by Analysts

Perion Network Ltd. (NASDAQ:PERI) has been given a consensus rating of “Hold” by the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $12.25.

A number of equities analysts have issued reports on PERI shares. Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a research report on Thursday, February 20th. Lake Street Capital reaffirmed a “buy” rating and set a $10.50 target price (down from $11.00) on shares of Perion Network in a report on Wednesday, February 19th. Finally, StockNews.com lowered shares of Perion Network from a “hold” rating to a “sell” rating in a report on Thursday, February 20th.

Institutional Trading of Perion Network

Large investors have recently made changes to their positions in the company. Sphera Management Technology Funds Ltd acquired a new stake in shares of Perion Network in the fourth quarter valued at approximately $995,000. Two Sigma Advisers LP raised its position in Perion Network by 2.2% in the fourth quarter. Two Sigma Advisers LP now owns 116,600 shares of the technology company’s stock worth $988,000 after acquiring an additional 2,500 shares in the last quarter. Two Sigma Investments LP raised its position in Perion Network by 5.0% in the fourth quarter. Two Sigma Investments LP now owns 200,862 shares of the technology company’s stock worth $1,701,000 after acquiring an additional 9,592 shares in the last quarter. State of Wyoming raised its position in Perion Network by 217.2% in the fourth quarter. State of Wyoming now owns 19,676 shares of the technology company’s stock worth $167,000 after acquiring an additional 13,472 shares in the last quarter. Finally, 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. 68.12% of the stock is currently owned by hedge funds and other institutional investors.

Perion Network Price Performance

PERI stock opened at $8.14 on Monday. The company has a market capitalization of $364.88 million, a PE ratio of 31.31, a P/E/G ratio of 0.76 and a beta of 1.53. Perion Network has a 12 month low of $7.47 and a 12 month high of $23.03. The firm’s 50-day moving average is $8.82 and its 200 day moving average is $8.53.

Perion Network (NASDAQ:PERI) last issued its earnings results on Wednesday, February 19th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.15). Perion Network had a return on equity of 5.55% and a net margin of 2.53%. The business had revenue of $129.58 million for the quarter, compared to the consensus estimate of $130.44 million. Sell-side analysts forecast that Perion Network will post 0.51 EPS for the current fiscal year.

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.