Perion Network Ltd. (NASDAQ:PERI) Receives $12.25 Average PT from Analysts

Perion Network Ltd. (NASDAQ:PERI) has been assigned a consensus recommendation of “Hold” from the six analysts that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and one has assigned 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 $12.25.

PERI has been the subject of a number of research analyst reports. Lake Street Capital reiterated a “buy” rating and issued a $10.50 target price (down from $11.00) on shares of Perion Network in a report on Wednesday, February 19th. StockNews.com downgraded Perion Network from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a research note on Thursday, February 20th.

Institutional Investors Weigh In On Perion Network

Several large investors have recently added to or reduced their stakes in the company. Y.D. More Investments Ltd boosted its position in shares of Perion Network by 10.3% in the fourth 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 period. GSA Capital Partners LLP increased its holdings in Perion Network by 436.2% during the 3rd quarter. GSA Capital Partners LLP now owns 76,463 shares of the technology company’s stock valued at $603,000 after purchasing an additional 62,204 shares during the period. JPMorgan Chase & Co. raised its holdings in Perion Network by 39.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company’s stock worth $2,984,000 after purchasing an additional 107,278 shares in the last quarter. PDT Partners LLC raised its position in shares of Perion Network by 58.8% in the 3rd quarter. PDT Partners LLC now owns 175,345 shares of the technology company’s stock worth $1,382,000 after acquiring an additional 64,936 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Perion Network during the 3rd quarter valued at about $658,000. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Perion Network Price Performance

Shares of NASDAQ PERI opened at $7.97 on Thursday. The firm has a market cap of $357.26 million, a PE ratio of 30.66, a price-to-earnings-growth ratio of 0.76 and a beta of 1.48. The company has a 50 day simple moving average of $8.89 and a 200 day simple moving average of $8.56. Perion Network has a 1 year low of $7.47 and a 1 year high of $23.49.

Perion Network (NASDAQ:PERI) last posted its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). Perion Network had a return on equity of 5.55% and a net margin of 2.53%. The company had revenue of $129.58 million during the quarter, compared to analyst estimates of $130.44 million. As a group, research analysts anticipate that Perion Network will post 0.51 earnings per share 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.