Perion Network (NASDAQ:PERI) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Perion Network (NASDAQ:PERI) from a sell rating to a hold rating in a research report released on Thursday morning.

Other analysts have also issued reports about the stock. Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a research note on Thursday, February 20th. Lake Street Capital restated a “buy” rating and issued a $10.50 target price (down from $11.00) on shares of Perion Network in a research note on Wednesday, February 19th. Six 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 an average rating of “Hold” and an average price target of $12.25.

Perion Network Stock Up 0.9 %

Shares of PERI opened at $8.14 on Thursday. Perion Network has a 52-week low of $7.47 and a 52-week high of $22.69. The company has a market cap of $364.88 million, a PE ratio of 31.31, a P/E/G ratio of 0.76 and a beta of 1.53. The business has a fifty day moving average of $8.76 and a 200 day moving average of $8.52.

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

Institutional Investors Weigh In On Perion Network

Large investors have recently modified their holdings of the business. Private Capital Management LLC grew its stake 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 valued at $18,816,000 after purchasing an additional 598,228 shares during the last quarter. Clearline Capital LP purchased a new position in shares of Perion Network in the 3rd quarter worth approximately $2,221,000. Systematic Financial Management LP raised its stake in shares of Perion Network by 38.3% during the 4th quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company’s stock worth $5,489,000 after acquiring an additional 179,557 shares in the last quarter. Sphera Management Technology Funds Ltd purchased a new stake in Perion Network during the fourth quarter valued at approximately $995,000. Finally, JPMorgan Chase & Co. boosted its stake in Perion Network by 39.5% in the third 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 in the last quarter. Institutional investors 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.