Perion Network Ltd. (NASDAQ:PERI) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Perion Network Ltd. (NASDAQ:PERI) have received an average recommendation of “Moderate Buy” from the six analysts that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $12.13.

A number of equities research analysts have recently issued reports on PERI shares. StockNews.com raised shares of Perion Network from a “sell” rating to a “hold” rating in a report on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a report on Wednesday, May 14th. Roth Capital set a $14.00 target price on shares of Perion Network in a report on Wednesday, May 14th. Lake Street Capital upped their target price on shares of Perion Network from $10.50 to $13.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Finally, Roth Mkm upgraded shares of Perion Network from a “neutral” rating to a “buy” rating and upped their price target for the company from $9.00 to $14.00 in a research note on Wednesday, May 14th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new position in Perion Network in the 4th quarter valued at about $489,000. Y.D. More Investments Ltd grew its position in shares of Perion Network by 10.3% during the 4th quarter. Y.D. More Investments Ltd now owns 391,332 shares of the technology company’s stock worth $3,346,000 after purchasing an additional 36,624 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Perion Network by 39.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company’s stock worth $2,984,000 after purchasing an additional 107,278 shares in the last quarter. Private Capital Management LLC grew its position in shares of Perion Network by 33.4% during the 3rd quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company’s stock worth $18,816,000 after purchasing an additional 598,228 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Perion Network during the 4th quarter worth approximately $755,000. Institutional investors and hedge funds own 68.12% of the company’s stock.

Perion Network Stock Performance

Shares of PERI stock opened at $10.50 on Wednesday. The firm’s 50-day moving average is $8.79 and its 200-day moving average is $8.77. The stock has a market cap of $470.66 million, a price-to-earnings ratio of 40.39, a PEG ratio of 0.76 and a beta of 1.47. Perion Network has a 52-week low of $7.00 and a 52-week high of $12.74.

Perion Network (NASDAQ:PERI) last issued its earnings results on Wednesday, February 19th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The firm had revenue of $129.58 million during the quarter, compared to the consensus estimate of $130.44 million. Perion Network had a net margin of 2.53% and a return on equity of 5.55%. Sell-side analysts predict that Perion Network will post 0.51 EPS for the current fiscal year.

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.