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

Shares of Perion Network Ltd. (NASDAQ:PERI) have been assigned a consensus rating of “Hold” from the six research firms that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $12.13.

Several research analysts recently weighed in on PERI shares. Lake Street Capital upgraded shares of Perion Network from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Wednesday, July 31st. Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a research note on Thursday, August 1st. Finally, Stifel Nicolaus lowered their price target on Perion Network from $9.00 to $7.50 and set a “hold” rating on the stock in a research report on Monday, October 14th.

Perion Network Trading Down 0.1 %

NASDAQ PERI opened at $8.28 on Friday. The company has a market capitalization of $397.37 million, a PE ratio of 3.94, a price-to-earnings-growth ratio of 0.41 and a beta of 1.48. The firm’s fifty day simple moving average is $8.14 and its 200-day simple moving average is $9.39. Perion Network has a 1-year low of $7.47 and a 1-year high of $32.99.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. increased its position in Perion Network by 18.8% during the 1st 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 period. Acadian Asset Management LLC increased its stake in Perion Network by 43.5% during the 2nd 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 in the last quarter. Vanguard Group Inc. lifted its stake in shares of Perion Network by 2.4% in the first quarter. Vanguard Group Inc. now owns 1,485,179 shares of the technology company’s stock valued at $33,387,000 after buying an additional 35,476 shares in the last quarter. Renaissance Technologies LLC lifted its position in Perion Network by 4.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,333,615 shares of the technology company’s stock valued at $11,136,000 after acquiring an additional 55,745 shares in the last quarter. Finally, Y.D. More Investments Ltd increased its holdings in Perion Network by 580.4% during the 2nd quarter. Y.D. More Investments Ltd now owns 264,379 shares of the technology company’s stock worth $2,191,000 after purchasing an additional 225,520 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.