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

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

Several other analysts have also recently commented on the company. Lake Street Capital raised 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 reaffirmed a “hold” rating on shares of Perion Network in a research report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $12.13.

Perion Network Stock Up 2.4 %

PERI opened at $8.14 on Monday. The firm has a market cap of $390.65 million, a PE ratio of 3.88, a P/E/G ratio of 0.39 and a beta of 1.48. The business has a fifty day simple moving average of $8.22 and a 200-day simple moving average of $10.00. Perion Network has a fifty-two week low of $7.47 and a fifty-two week 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. The business had revenue of $108.69 million during the quarter, compared to analysts’ expectations of $106.98 million. Perion Network had a return on equity of 15.65% and a net margin of 11.34%. On average, equities research analysts anticipate that Perion Network will post 0.91 EPS for the current fiscal year.

Institutional Trading of Perion Network

A number of institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its position in Perion Network by 16.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,105 shares of the technology company’s stock valued at $188,000 after purchasing an additional 847 shares during the last quarter. Pitcairn Co. boosted its position in Perion Network by 9.0% during the first quarter. Pitcairn Co. now owns 12,406 shares of the technology company’s stock valued at $279,000 after purchasing an additional 1,027 shares during the last quarter. Van ECK Associates Corp boosted its position in Perion Network by 9.7% during the second quarter. Van ECK Associates Corp now owns 16,540 shares of the technology company’s stock valued at $138,000 after purchasing an additional 1,468 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Perion Network by 17.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,244 shares of the technology company’s stock valued at $128,000 after buying an additional 2,299 shares in the last quarter. Finally, Atomi Financial Group Inc. raised its holdings in Perion Network by 29.7% during the first quarter. Atomi Financial Group Inc. now owns 12,640 shares of the technology company’s stock valued at $284,000 after buying an additional 2,896 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.