Analysts Set Perion Network Ltd. (NASDAQ:PERI) Target Price at $25.80

Perion Network Ltd. (NASDAQ:PERI) has been given an average rating of “Hold” by the six analysts that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $25.80.

Several brokerages have recently issued reports on PERI. StockNews.com upgraded Perion Network from a “hold” rating to a “buy” rating in a research note on Monday. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Perion Network in a research note on Thursday. Lake Street Capital restated a “hold” rating and set a $16.00 price target on shares of Perion Network in a report on Monday, April 8th. Roth Mkm restated a “neutral” rating and set a $13.00 price target (down previously from $35.00) on shares of Perion Network in a report on Tuesday, April 9th. Finally, Roth Capital lowered Perion Network from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 9th.

Perion Network Stock Performance

PERI opened at $12.22 on Friday. Perion Network has a 52-week low of $10.77 and a 52-week high of $36.86. The firm has a market cap of $586.45 million, a P/E ratio of 5.22, a price-to-earnings-growth ratio of 0.40 and a beta of 1.37. The business’s fifty day moving average is $17.44 and its 200-day moving average is $24.21.

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

Institutional Investors Weigh In On Perion Network

A number of hedge funds have recently made changes to their positions in PERI. Naples Money Management LLC purchased a new position in Perion Network in the fourth quarter valued at about $29,000. Principal Securities Inc. bought a new position in Perion Network during the fourth quarter valued at $49,000. Blue Trust Inc. increased its position in Perion Network by 42.3% in the fourth quarter. Blue Trust Inc. now owns 1,658 shares of the technology company’s stock worth $51,000 after buying an additional 493 shares during the last quarter. AllSquare Wealth Management LLC raised its stake in shares of Perion Network by 154.5% in the third quarter. AllSquare Wealth Management LLC now owns 5,600 shares of the technology company’s stock valued at $172,000 after buying an additional 3,400 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position 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 valued at $188,000 after buying an additional 847 shares during the last quarter. 68.12% of the stock is currently owned by 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.