StockNews.com Downgrades Perion Network (NASDAQ:PERI) to Hold

Perion Network (NASDAQ:PERI) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

A number of other equities analysts also recently commented on the stock. Roth Mkm reissued a “neutral” rating and issued a $13.00 price objective (down previously from $35.00) on shares of Perion Network in a research note on Tuesday, April 9th. Lake Street Capital reiterated a “hold” rating and issued a $16.00 target price on shares of Perion Network in a report on Monday, April 8th. Needham & Company LLC reissued a “buy” rating and set a $18.00 price target on shares of Perion Network in a research report on Thursday, May 9th. Finally, Roth Capital downgraded shares of Perion Network from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 9th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Perion Network currently has a consensus rating of “Hold” and a consensus target price of $25.80.

Perion Network Stock Performance

NASDAQ PERI opened at $12.25 on Tuesday. Perion Network has a one year low of $10.77 and a one year high of $36.86. The company has a market capitalization of $587.88 million, a price-to-earnings ratio of 5.83, a price-to-earnings-growth ratio of 0.39 and a beta of 1.37. The company’s 50-day simple moving average is $16.59 and its two-hundred day simple moving average is $23.84.

Hedge Funds Weigh In On Perion Network

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in Perion Network by 12.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 7,353 shares of the technology company’s stock valued at $225,000 after purchasing an additional 786 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Perion Network by 17.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,945 shares of the technology company’s stock valued at $397,000 after acquiring an additional 1,893 shares during the period. Allworth Financial LP raised its stake in Perion Network by 65.5% in the 3rd quarter. Allworth Financial LP now owns 60,212 shares of the technology company’s stock worth $1,844,000 after acquiring an additional 23,820 shares during the last quarter. Origin Asset Management LLP lifted its position in Perion Network by 69.5% during the 3rd quarter. Origin Asset Management LLP now owns 117,032 shares of the technology company’s stock worth $3,585,000 after acquiring an additional 48,000 shares during the period. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD purchased a new stake in Perion Network during the 3rd quarter valued at about $2,036,000. Institutional investors and hedge funds own 68.12% of the company’s stock.

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.