Lake Street Capital Reiterates Buy Rating for Perion Network (NASDAQ:PERI)

Lake Street Capital restated their buy rating on shares of Perion Network (NASDAQ:PERI) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $10.50 price objective on the technology company’s stock, down from their previous price objective of $11.00.

Separately, Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.25.

Perion Network Stock Performance

NASDAQ PERI opened at $8.52 on Wednesday. Perion Network has a one year low of $7.47 and a one year high of $23.74. The company’s 50 day moving average price is $8.88 and its 200 day moving average price is $8.55. The firm has a market capitalization of $381.95 million, a price-to-earnings ratio of 32.77, a PEG ratio of 0.76 and a beta of 1.48.

Perion Network (NASDAQ:PERI) last posted its earnings results on Wednesday, February 19th. The technology company reported $0.19 earnings per share 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 5.54%. The business had revenue of $129.58 million for the quarter, compared to analyst estimates of $130.44 million. Sell-side analysts forecast that Perion Network will post 0.51 EPS for the current fiscal year.

Institutional Trading of Perion Network

Hedge funds and other institutional investors have recently modified their holdings of the business. Y.D. More Investments Ltd boosted its holdings 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 valued at $3,346,000 after purchasing an additional 36,624 shares during the last quarter. GSA Capital Partners LLP raised its position in shares of Perion Network by 436.2% in the 3rd quarter. GSA Capital Partners LLP now owns 76,463 shares of the technology company’s stock valued at $603,000 after purchasing an additional 62,204 shares in the last quarter. 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 valued at $2,984,000 after buying 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 third quarter. PDT Partners LLC now owns 175,345 shares of the technology company’s stock worth $1,382,000 after buying an additional 64,936 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Perion Network in the third quarter worth $658,000. 68.12% of the stock is owned by hedge funds and other institutional investors.

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.