Perion Network (NASDAQ:PERI) Upgraded by StockNews.com to “Hold” Rating

Perion Network (NASDAQ:PERI) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Several other equities research analysts have also commented on PERI. Lake Street Capital restated a “buy” rating and issued a $10.50 price target (down previously from $11.00) on shares of Perion Network in a report on Wednesday, February 19th. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $12.25.

Perion Network Price Performance

Shares of PERI opened at $8.16 on Thursday. Perion Network has a 1 year low of $7.47 and a 1 year high of $22.65. The business’s 50 day simple moving average is $8.75 and its 200-day simple moving average is $8.52. The stock has a market capitalization of $365.77 million, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 0.76 and a beta of 1.53.

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 the consensus estimate of $0.34 by ($0.15). Perion Network had a net margin of 2.53% and a return on equity of 5.55%. The company had revenue of $129.58 million for the quarter, compared to the consensus estimate of $130.44 million. On average, sell-side analysts expect that Perion Network will post 0.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PERI. Sanctuary Advisors LLC purchased a new stake in Perion Network in the fourth quarter valued at approximately $489,000. Y.D. More Investments Ltd boosted its holdings in shares of Perion Network by 10.3% in the 4th quarter. Y.D. More Investments Ltd now owns 391,332 shares of the technology company’s stock valued at $3,346,000 after acquiring an additional 36,624 shares during the last quarter. JPMorgan Chase & Co. increased its stake 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 worth $2,984,000 after acquiring an additional 107,278 shares during the period. PDT Partners LLC raised its holdings in shares of Perion Network by 58.8% during the third quarter. PDT Partners LLC now owns 175,345 shares of the technology company’s stock worth $1,382,000 after purchasing an additional 64,936 shares during the last quarter. Finally, Private Capital Management LLC boosted 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 purchasing an additional 598,228 shares during the last quarter. 68.12% of the stock is owned by institutional investors and hedge funds.

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.