Perion Network (NASDAQ:PERI) Stock Rating Lowered by StockNews.com

Perion Network (NASDAQ:PERI) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Other equities analysts have also recently issued research reports about the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a research report 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Perion Network has an average rating of “Hold” and an average price target of $12.25.

Perion Network Stock Performance

Shares of NASDAQ PERI opened at $7.36 on Friday. The firm has a 50 day moving average price of $8.66 and a two-hundred day moving average price of $8.52. The stock has a market cap of $329.91 million, a P/E ratio of 28.31, a price-to-earnings-growth ratio of 0.76 and a beta of 1.53. Perion Network has a 52-week low of $7.34 and a 52-week high of $13.98.

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 net margin of 2.53% and a return on equity of 5.55%. The company had revenue of $129.58 million during the quarter, compared to the consensus estimate of $130.44 million. Analysts predict that Perion Network will post 0.51 earnings per share 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. Russell Investments Group Ltd. bought a new stake in shares of Perion Network in the 4th quarter valued at about $41,000. SBI Securities Co. Ltd. bought a new stake in shares of Perion Network in the 4th quarter worth approximately $45,000. Perritt Capital Management Inc purchased a new position in shares of Perion Network during the fourth quarter valued at approximately $127,000. Point72 Asset Management L.P. bought a new position in shares of Perion Network during the third quarter valued at approximately $134,000. Finally, XTX Topco Ltd bought a new stake in Perion Network in the third quarter valued at $150,000. Hedge funds and other 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.