Stifel Nicolaus Cuts Perion Network (NASDAQ:PERI) Price Target to $7.50

Perion Network (NASDAQ:PERI) had its target price reduced by Stifel Nicolaus from $9.00 to $7.50 in a report released on Monday morning, Benzinga reports. They currently have a hold rating on the technology company’s stock.

PERI has been the subject of a number of other research reports. Lake Street Capital upgraded Perion Network from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Wednesday, July 31st. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a research report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Perion Network currently has an average rating of “Hold” and a consensus target price of $12.13.

Perion Network Stock Performance

Shares of PERI opened at $7.95 on Monday. The stock has a fifty day moving average price of $8.23 and a two-hundred day moving average price of $10.02. Perion Network has a 52-week low of $7.47 and a 52-week high of $32.99. The company has a market cap of $381.53 million, a price-to-earnings ratio of 3.79, a PEG ratio of 0.39 and a beta of 1.48.

Perion Network (NASDAQ:PERI) last released its earnings results on Wednesday, July 31st. The technology company reported $0.15 earnings per share for the quarter, topping 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 return on equity of 15.65% and a net margin of 11.34%. As a group, research analysts predict that Perion Network will post 0.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Perion Network

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PERI. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Perion Network by 18.8% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,943,795 shares of the technology company’s stock valued at $88,657,000 after purchasing an additional 624,441 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Perion Network by 43.5% in the second quarter. Acadian Asset Management LLC now owns 1,722,676 shares of the technology company’s stock valued at $14,367,000 after purchasing an additional 522,424 shares during the last quarter. Y.D. More Investments Ltd grew its stake in Perion Network by 580.4% in the second quarter. Y.D. More Investments Ltd now owns 264,379 shares of the technology company’s stock valued at $2,191,000 after acquiring an additional 225,520 shares during the period. Squarepoint Ops LLC grew its stake in Perion Network by 997.5% in the second 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 during the period. Finally, ARK Investment Management LLC grew its stake in Perion Network by 156.9% in the second 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 during the period. Institutional investors 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.