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

Perion Network Ltd. (NASDAQ:PERI) has received an average recommendation of “Hold” from the six analysts that are presently covering the stock, Marketbeat.com reports. Five investment 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 brokers that have covered the stock in the last year is $12.25.

Several equities research analysts recently weighed in on PERI shares. StockNews.com upgraded shares of Perion Network from a “sell” rating to a “hold” rating in a research note on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a research report on Thursday, February 20th. Finally, Lake Street Capital restated a “buy” rating and set a $10.50 price objective (down previously from $11.00) on shares of Perion Network in a research report on Wednesday, February 19th.

Perion Network Stock Up 0.2 %

Shares of NASDAQ PERI opened at $8.16 on Monday. The stock’s 50 day moving average price is $8.75 and its two-hundred day moving average price is $8.52. Perion Network has a 52-week low of $7.47 and a 52-week high of $22.65. The stock has a market capitalization of $365.77 million, a P/E ratio of 31.39, a PEG ratio of 0.76 and a beta of 1.53.

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

Hedge Funds Weigh In On Perion Network

Several hedge funds and other institutional investors have recently made changes to their positions in PERI. Sanctuary Advisors LLC acquired a new stake in Perion Network in the 4th quarter valued at approximately $489,000. Y.D. More Investments Ltd increased its holdings in shares of Perion Network by 10.3% during 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 purchasing an additional 36,624 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Perion Network by 39.5% during the third quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company’s stock valued at $2,984,000 after purchasing an additional 107,278 shares during the period. PDT Partners LLC raised its stake in shares of Perion Network by 58.8% during the third quarter. PDT Partners LLC now owns 175,345 shares of the technology company’s stock valued at $1,382,000 after purchasing an additional 64,936 shares in the last quarter. Finally, Private Capital Management LLC lifted its holdings in Perion Network by 33.4% in the third quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company’s stock worth $18,816,000 after purchasing an additional 598,228 shares during the period. 68.12% of the stock is currently owned by institutional investors and hedge funds.

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.