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

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

Perion Network Trading Down 0.2 %

NASDAQ PERI opened at $8.52 on Thursday. The company has a market cap of $381.95 million, a PE ratio of 32.77, a PEG ratio of 0.76 and a beta of 1.48. Perion Network has a 12 month low of $7.47 and a 12 month high of $23.74. The stock has a 50 day moving average of $8.88 and a 200-day moving average of $8.55.

Perion Network (NASDAQ:PERI) last posted its quarterly earnings results on Wednesday, February 19th. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). Perion Network had a net margin of 2.53% and a return on equity of 5.54%. The business had revenue of $129.58 million during the quarter, compared to the consensus estimate of $130.44 million. As a group, sell-side analysts predict that Perion Network will post 0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Perion Network

A number of large investors have recently added to or reduced their stakes in PERI. Private Capital Management LLC raised its stake in Perion Network by 33.4% in the 3rd quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company’s stock valued at $18,816,000 after acquiring an additional 598,228 shares during the period. Clearline Capital LP bought a new stake in Perion Network in the 3rd quarter valued at $2,221,000. Systematic Financial Management LP raised its stake in Perion Network by 38.3% in the 4th quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company’s stock valued at $5,489,000 after acquiring an additional 179,557 shares during the period. Sphera Management Technology Funds Ltd bought a new stake in Perion Network in the 4th quarter valued at $995,000. Finally, JPMorgan Chase & Co. raised its stake in Perion Network by 39.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company’s stock valued at $2,984,000 after acquiring an additional 107,278 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.