Perion Network (NASDAQ:PERI) Announces Earnings Results

Perion Network (NASDAQ:PERI) released its quarterly earnings results on Wednesday. The technology company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.22), Zacks reports. Perion Network had a negative net margin of 1.12% and a positive return on equity of 2.68%. Perion Network updated its FY 2025 guidance to EPS.

Perion Network Stock Performance

NASDAQ:PERI traded up $1.60 during mid-day trading on Wednesday, hitting $11.10. 1,041,694 shares of the company’s stock traded hands, compared to its average volume of 383,146. The company has a fifty day moving average of $9.46 and a 200 day moving average of $9.93. The company has a market capitalization of $497.60 million, a P/E ratio of -93.38, a P/E/G ratio of 0.83 and a beta of 1.55. Perion Network has a twelve month low of $6.99 and a twelve month high of $11.79.

Institutional Investors Weigh In On Perion Network

Several hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. grew its holdings in Perion Network by 209.9% in the second quarter. Osaic Holdings Inc. now owns 2,721 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,843 shares during the period. NewEdge Advisors LLC purchased a new position in shares of Perion Network during the 1st quarter valued at approximately $160,000. State of Wyoming grew its stake in Perion Network by 11.0% in the 2nd quarter. State of Wyoming now owns 22,147 shares of the technology company’s stock valued at $225,000 after acquiring an additional 2,196 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Perion Network in the 2nd quarter worth $370,000. Finally, Balyasny Asset Management L.P. raised its position in Perion Network by 20.0% during the second quarter. Balyasny Asset Management L.P. now owns 42,115 shares of the technology company’s stock worth $427,000 after acquiring an additional 7,028 shares during the period. 68.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of Perion Network from a “hold” rating to a “buy” rating in a research report on Saturday, August 16th. Weiss Ratings reissued a “sell (d+)” rating on shares of Perion Network in a report on Wednesday, October 8th. Finally, Craig Hallum set a $14.00 target price on shares of Perion Network and gave the company a “buy” rating in a report on Monday, October 13th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Perion Network presently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

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.