Perion Network (NASDAQ:PERI) Stock Moved Up to Strong-Buy by Zacks Research

Zacks Research upgraded shares of Perion Network (NASDAQ:PERI) from a hold rating to a strong-buy rating in a research report report published on Monday,Zacks reports.

Separately, Weiss Ratings downgraded Perion Network from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $13.88.

Perion Network Stock Up 0.5%

Perion Network stock opened at $8.55 on Monday. Perion Network has a 52 week low of $7.63 and a 52 week high of $11.27. The company’s 50 day moving average price is $9.26 and its two-hundred day moving average price is $9.42. The stock has a market cap of $333.66 million, a P/E ratio of -24.43, a P/E/G ratio of 1.00 and a beta of 1.13.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings results on Tuesday, August 11th. The technology company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $98.24 million during the quarter, compared to the consensus estimate of $96.72 million. Perion Network had a positive return on equity of 2.43% and a negative net margin of 2.95%. On average, equities analysts anticipate that Perion Network will post 0.45 EPS for the current year.

Insider Buying and Selling at Perion Network

In other Perion Network news, Director Eyal Kaplan sold 2,916 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $8.72, for a total value of $25,427.52. Following the completion of the sale, the director owned 51,226 shares in the company, valued at approximately $446,690.72. The trade was a 5.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 6,767 shares of company stock valued at $58,970. Insiders own 2.78% of the company’s stock.

Hedge Funds Weigh In On Perion Network

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC purchased a new position in shares of Perion Network during the 1st quarter worth approximately $1,568,000. Sei Investments Co. lifted its stake in shares of Perion Network by 100.2% in the 1st quarter. Sei Investments Co. now owns 166,538 shares of the technology company’s stock valued at $1,664,000 after purchasing an additional 83,359 shares during the period. North Star Investment Management Corp. purchased a new position in shares of Perion Network in the 1st quarter valued at approximately $649,000. Headlands Technologies LLC boosted its position in shares of Perion Network by 282.5% during the second quarter. Headlands Technologies LLC now owns 39,577 shares of the technology company’s stock valued at $384,000 after purchasing an additional 29,231 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Perion Network during the second quarter valued at approximately $532,000. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Perion Network Company Profile

Perion Network Ltd. is a global advertising technology company that develops and operates digital advertising solutions for brands, agencies, publishers and retailers. Its technology supports campaign planning, audience targeting, media buying, creative delivery and performance measurement across multiple digital channels, including search, social, display, video, connected television and retail media.

The company’s businesses have included Undertone, which provides digital advertising and creative solutions; Hivestack, a platform for programmatic digital out-of-home advertising; and other technology and media offerings designed to help advertisers reach audiences and help publishers monetize their content.