Perion Network (NASDAQ:PERI) Lifted to Buy at StockNews.com

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

Several other equities research analysts also recently issued reports on the company. Lake Street Capital reissued a hold rating and issued a $16.00 price objective on shares of Perion Network in a research note on Monday, April 8th. Needham & Company LLC reduced their price target on shares of Perion Network from $35.00 to $18.00 and set a buy rating for the company in a research report on Monday, April 8th. Roth Capital downgraded shares of Perion Network from a buy rating to a neutral rating in a research report on Tuesday, April 9th. Finally, Roth Mkm reiterated a neutral rating and issued a $13.00 target price (down previously from $35.00) on shares of Perion Network in a research report on Tuesday, April 9th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $25.80.

Perion Network Price Performance

PERI stock opened at $12.65 on Monday. The company’s 50 day simple moving average is $17.65 and its 200-day simple moving average is $24.29. Perion Network has a 52-week low of $10.77 and a 52-week high of $36.86. The firm has a market capitalization of $607.09 million, a P/E ratio of 5.41, a P/E/G ratio of 0.40 and a beta of 1.37.

Perion Network (NASDAQ:PERI) last announced its earnings results on Wednesday, February 7th. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.11. The company had revenue of $234.23 million for the quarter, compared to the consensus estimate of $233.09 million. Perion Network had a net margin of 15.80% and a return on equity of 23.06%. The company’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.84 EPS. Sell-side analysts predict that Perion Network will post 1.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PERI. Naples Money Management LLC acquired a new position in Perion Network during the fourth quarter worth $29,000. Principal Securities Inc. acquired a new position in shares of Perion Network during the 4th quarter valued at about $49,000. Blue Trust Inc. raised its stake in shares of Perion Network by 42.3% in the 4th quarter. Blue Trust Inc. now owns 1,658 shares of the technology company’s stock valued at $51,000 after acquiring an additional 493 shares in the last quarter. AllSquare Wealth Management LLC lifted its holdings in Perion Network by 154.5% in 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 during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Perion Network by 16.1% in 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 during the last quarter. Institutional investors and hedge funds 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.