Perion Network Ltd. (NASDAQ:PERI) Receives $24.60 Average Target Price from Brokerages

Shares of Perion Network Ltd. (NASDAQ:PERI) have been given an average rating of “Hold” by the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $24.60.

A number of brokerages recently commented on PERI. Roth Capital lowered Perion Network from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 9th. Roth Mkm reiterated a “neutral” rating and issued a $13.00 price objective (down from $35.00) on shares of Perion Network in a research report on Tuesday, April 9th. Needham & Company LLC lowered Perion Network from a “buy” rating to a “hold” rating in a research report on Monday, June 10th. Oppenheimer lowered Perion Network from an “outperform” rating to a “market perform” rating in a research report on Monday, June 10th. Finally, StockNews.com lowered Perion Network from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th.

Hedge Funds Weigh In On Perion Network

Several institutional investors have recently modified their holdings of PERI. Naples Money Management LLC bought a new stake in Perion Network in the 4th quarter valued at approximately $29,000. Principal Securities Inc. bought a new stake in shares of Perion Network during the 4th quarter worth approximately $49,000. Blue Trust Inc. raised its stake in shares of Perion Network by 42.3% during the 4th quarter. Blue Trust Inc. now owns 1,658 shares of the technology company’s stock worth $51,000 after purchasing an additional 493 shares in the last quarter. AllSquare Wealth Management LLC raised its stake in shares of Perion Network by 154.5% during the 3rd quarter. AllSquare Wealth Management LLC now owns 5,600 shares of the technology company’s stock worth $172,000 after purchasing an additional 3,400 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Perion Network by 16.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,105 shares of the technology company’s stock worth $188,000 after purchasing an additional 847 shares in the last quarter. Institutional investors own 68.12% of the company’s stock.

Perion Network Stock Performance

Shares of NASDAQ:PERI opened at $8.37 on Friday. Perion Network has a twelve month low of $8.14 and a twelve month high of $36.86. The firm has a market cap of $401.68 million, a PE ratio of 3.99, a price-to-earnings-growth ratio of 0.44 and a beta of 1.40. The business has a fifty day moving average of $11.23 and a 200-day moving average of $20.19.

Perion Network (NASDAQ:PERI) last announced its earnings results on Wednesday, May 8th. The technology company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Perion Network had a net margin of 13.94% and a return on equity of 20.70%. The business had revenue of $157.82 million during the quarter, compared to analyst estimates of $156.96 million. On average, analysts anticipate that Perion Network will post 0.86 EPS for the current fiscal year.

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.