Brokerages Set Perion Network Ltd. (NASDAQ:PERI) Target Price at $12.25

Perion Network Ltd. (NASDAQ:PERI) has earned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $12.25.

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

Institutional Trading of Perion Network

Institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. bought a new stake in Perion Network during the 4th quarter valued at $41,000. SBI Securities Co. Ltd. bought a new stake in shares of Perion Network during the 4th quarter valued at $45,000. Perritt Capital Management Inc purchased a new stake in Perion Network during the 4th quarter worth about $127,000. Point72 Asset Management L.P. bought a new position in Perion Network in the 3rd quarter worth about $134,000. Finally, XTX Topco Ltd purchased a new position in Perion Network during the 3rd quarter valued at about $150,000. 68.12% of the stock is currently owned by hedge funds and other institutional investors.

Perion Network Price Performance

Shares of PERI stock opened at $8.07 on Monday. The firm has a 50-day moving average of $8.78 and a 200-day moving average of $8.52. Perion Network has a one year low of $7.47 and a one year high of $22.69. The company has a market cap of $361.74 million, a P/E ratio of 31.04, a P/E/G ratio of 0.76 and a beta of 1.53.

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 the consensus estimate of $0.34 by ($0.15). Perion Network had a net margin of 2.53% and a return on equity of 5.55%. The firm had revenue of $129.58 million during the quarter, compared to analysts’ expectations of $130.44 million. As a group, research analysts expect 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.