Brokerages Set Perion Network Ltd. (NASDAQ:PERI) PT at $13.67

Perion Network Ltd. (NASDAQ:PERI) has been assigned an average recommendation of “Hold” from the five analysts that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $13.67.

A number of brokerages recently issued reports on PERI. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a report on Thursday, August 1st. Oppenheimer lowered shares of Perion Network from an “outperform” rating to a “market perform” rating in a report on Monday, June 10th. Finally, Lake Street Capital raised Perion Network from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Wednesday, July 31st.

Institutional Investors Weigh In On Perion Network

Several large investors have recently made changes to their positions in PERI. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Perion Network by 18.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,943,795 shares of the technology company’s stock worth $88,657,000 after purchasing an additional 624,441 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Perion Network by 43.5% during the second quarter. Acadian Asset Management LLC now owns 1,722,676 shares of the technology company’s stock worth $14,367,000 after buying an additional 522,424 shares in the last quarter. Y.D. More Investments Ltd raised its position in Perion Network by 580.4% in the 2nd quarter. Y.D. More Investments Ltd now owns 264,379 shares of the technology company’s stock valued at $2,191,000 after buying an additional 225,520 shares during the last quarter. Squarepoint Ops LLC lifted its stake in Perion Network by 997.5% in the 2nd quarter. Squarepoint Ops LLC now owns 133,815 shares of the technology company’s stock valued at $1,117,000 after acquiring an additional 121,622 shares in the last quarter. Finally, ARK Investment Management LLC lifted its stake in Perion Network by 156.9% in the 2nd quarter. ARK Investment Management LLC now owns 192,002 shares of the technology company’s stock valued at $1,603,000 after acquiring an additional 117,253 shares in the last quarter. Institutional investors own 68.12% of the company’s stock.

Perion Network Stock Performance

Shares of Perion Network stock opened at $7.77 on Monday. Perion Network has a 52 week low of $7.47 and a 52 week high of $32.99. The stock has a market capitalization of $372.89 million, a price-to-earnings ratio of 3.70, a PEG ratio of 0.40 and a beta of 1.48. The firm has a fifty day moving average of $8.32 and a two-hundred day moving average of $11.03.

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

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.