Needham & Company LLC Reaffirms “Hold” Rating for Perion Network (NASDAQ:PERI)

Perion Network (NASDAQ:PERI)‘s stock had its “hold” rating reiterated by research analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports.

Other analysts also recently issued reports about the company. Stifel Nicolaus decreased their target price 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. Lake Street Capital raised Perion Network from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Wednesday, July 31st. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $12.13.

Perion Network Stock Down 1.6 %

Perion Network stock traded down $0.14 during trading on Thursday, reaching $8.89. The stock had a trading volume of 361,136 shares, compared to its average volume of 318,091. Perion Network has a 52-week low of $7.47 and a 52-week high of $32.99. The business has a 50 day moving average price of $8.13 and a 200 day moving average price of $9.26. The stock has a market cap of $420.56 million, a PE ratio of 9.56, a P/E/G ratio of 0.45 and a beta of 1.47.

Perion Network (NASDAQ:PERI) last announced its earnings results on Wednesday, November 6th. The technology company reported $0.11 EPS for the quarter, meeting analysts’ consensus estimates of $0.11. Perion Network had a net margin of 7.81% and a return on equity of 10.91%. The business had revenue of $102.20 million for the quarter, compared to analysts’ expectations of $99.93 million. On average, equities analysts predict that Perion Network will post 0.91 EPS for the current fiscal year.

Institutional Trading of Perion Network

A number of institutional investors and hedge funds have recently made changes to their positions in PERI. Acadian Asset Management LLC lifted its position in shares of 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 worth $14,367,000 after purchasing an additional 522,424 shares during the last quarter. Y.D. More Investments Ltd raised its holdings 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 acquiring an additional 225,520 shares in the last quarter. Squarepoint Ops LLC raised its holdings 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. ARK Investment Management LLC raised its holdings 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. Finally, Altshuler Shaham Ltd acquired a new position in Perion Network in the 2nd quarter valued at approximately $696,000. Institutional investors and hedge funds own 68.12% of the company’s stock.

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.