Perion Network (NASDAQ:PERI) Director Michael Vorhaus Sells 2,160 Shares of Stock

Perion Network Ltd (NASDAQ:PERI) Director Michael Vorhaus sold 2,160 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $9.70, for a total value of $20,952.00. Following the completion of the sale, the director owned 24,613 shares of the company’s stock, valued at $238,746.10. This represents a 8.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Perion Network Trading Down 1.9%

PERI opened at $9.40 on Friday. The company has a market capitalization of $366.88 million, a price-to-earnings ratio of -37.60, a PEG ratio of 1.33 and a beta of 1.17. Perion Network Ltd has a 12-month low of $7.63 and a 12-month high of $11.44. The business’s fifty day simple moving average is $9.31 and its 200-day simple moving average is $9.32.

Perion Network (NASDAQ:PERI) last released its quarterly earnings data on Thursday, May 21st. The technology company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.05. Perion Network had a positive return on equity of 3.34% and a negative net margin of 2.17%.The firm had revenue of $90.40 million during the quarter, compared to the consensus estimate of $91.74 million. On average, equities research analysts predict that Perion Network Ltd will post 0.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Lake Street Capital set a $13.00 price target on shares of Perion Network and gave the company a “buy” rating in a report on Thursday, May 21st. Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a research note on Tuesday, May 26th. Finally, Canaccord Genuity Group initiated coverage on shares of Perion Network in a report on Friday, March 20th. They set a “buy” rating and a $14.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Perion Network currently has an average rating of “Moderate Buy” and an average price target of $13.88.

Institutional Trading of Perion Network

Several hedge funds have recently modified their holdings of PERI. Bank of America Corp DE boosted its holdings in shares of Perion Network by 101.3% in the 1st quarter. Bank of America Corp DE now owns 24,480 shares of the technology company’s stock valued at $245,000 after buying an additional 12,317 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Perion Network by 698.9% during the 1st quarter. Royal Bank of Canada now owns 10,170 shares of the technology company’s stock worth $102,000 after acquiring an additional 8,897 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Perion Network during the 1st quarter worth approximately $1,568,000. Systematic Financial Management LP lifted its position in Perion Network by 5.9% during the first quarter. Systematic Financial Management LP now owns 869,066 shares of the technology company’s stock valued at $8,689,000 after acquiring an additional 48,246 shares during the last quarter. Finally, Sei Investments Co. lifted its position in Perion Network by 100.2% during the first quarter. Sei Investments Co. now owns 166,538 shares of the technology company’s stock valued at $1,664,000 after acquiring an additional 83,359 shares during the last quarter. 68.12% of the stock is owned by hedge funds and other institutional investors.

Perion Network Company Profile

Perion Network Ltd. (NASDAQ: PERI) is a digital advertising technology company that offers a suite of solutions designed for both brand marketers and performance-driven advertisers. The firm’s platform integrates search monetization, programmatic display, video and connected TV (CTV) advertising to help clients reach and engage audiences across desktop, mobile and television environments. Through proprietary algorithms and AI-driven tools, Perion’s technology optimizes ad placements in real time, aiming to boost campaign efficiency and return on investment for publishers and advertisers alike.

Key offerings include search engine marketing services that cover major platforms such as Google and Bing, native and display advertising solutions under its Undertone brand, as well as social and video ad formats.