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

Shares of Perion Network Ltd. (NASDAQ:PERI) have earned a consensus rating of “Hold” from the six brokerages that are currently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $12.25.

PERI has been the topic of a number of research analyst reports. Lake Street Capital reaffirmed a “buy” rating and set a $10.50 price objective (down from $11.00) on shares of Perion Network in a research report on Wednesday, February 19th. StockNews.com upgraded shares of Perion Network from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a research note on Thursday, February 20th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC bought a new position in shares of Perion Network in the 4th quarter worth approximately $489,000. Y.D. More Investments Ltd raised its position in Perion Network by 10.3% in the fourth quarter. Y.D. More Investments Ltd now owns 391,332 shares of the technology company’s stock worth $3,346,000 after acquiring an additional 36,624 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Perion Network by 39.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company’s stock worth $2,984,000 after acquiring an additional 107,278 shares during the last quarter. PDT Partners LLC grew its position in shares of Perion Network by 58.8% during the 3rd quarter. PDT Partners LLC now owns 175,345 shares of the technology company’s stock valued at $1,382,000 after acquiring an additional 64,936 shares during the period. Finally, Private Capital Management LLC increased its stake in shares of Perion Network by 33.4% in the 3rd 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 in the last quarter. 68.12% of the stock is owned by hedge funds and other institutional investors.

Perion Network Stock Performance

Shares of NASDAQ PERI opened at $8.16 on Monday. The firm’s 50 day moving average price is $8.75 and its 200-day moving average price is $8.53. Perion Network has a 52-week low of $7.47 and a 52-week high of $22.65. The company has a market cap of $365.77 million, a PE ratio of 31.39, a P/E/G ratio of 0.76 and a beta of 1.53.

Perion Network (NASDAQ:PERI) last released its quarterly earnings data 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). Perion Network had a net margin of 2.53% and a return on equity of 5.55%. The business had revenue of $129.58 million during the quarter, compared to the consensus estimate of $130.44 million. On average, analysts forecast 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.