Perion Network Ltd. (NASDAQ:PERI) Given Consensus Rating of “Buy” by Analysts

Shares of Perion Network Ltd. (NASDAQ:PERIGet Rating) have been assigned an average recommendation of “Buy” from the seven research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $30.83.

A number of brokerages have recently commented on PERI. Needham & Company LLC began coverage on Perion Network in a report on Friday, June 3rd. They issued a “buy” rating and a $32.00 price target on the stock. StockNews.com raised Perion Network from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 17th.

Shares of NASDAQ:PERI opened at $18.57 on Friday. The business has a 50 day moving average price of $20.06 and a 200 day moving average price of $21.38. Perion Network has a twelve month low of $16.41 and a twelve month high of $33.09. The company has a market cap of $824.90 million, a price-to-earnings ratio of 14.98, a PEG ratio of 0.46 and a beta of 1.29.

Perion Network (NASDAQ:PERIGet Rating) last released its quarterly earnings results on Thursday, April 28th. The technology company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.13. Perion Network had a return on equity of 13.67% and a net margin of 9.90%. The firm had revenue of $125.30 million during the quarter, compared to analysts’ expectations of $122.02 million. Perion Network’s quarterly revenue was up 39.5% compared to the same quarter last year. On average, research analysts predict that Perion Network will post 1.59 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of PERI. Bank of America Corp DE boosted its stake in shares of Perion Network by 983.0% in the first quarter. Bank of America Corp DE now owns 30,347 shares of the technology company’s stock valued at $682,000 after buying an additional 27,545 shares during the period. Advisory Services Network LLC increased its holdings in Perion Network by 6.9% in the first quarter. Advisory Services Network LLC now owns 31,264 shares of the technology company’s stock valued at $703,000 after purchasing an additional 2,010 shares during the period. Sawtooth Solutions LLC acquired a new stake in Perion Network during the 1st quarter worth about $296,000. Private Capital Management LLC grew its holdings in Perion Network by 3.2% during the 1st quarter. Private Capital Management LLC now owns 1,630,540 shares of the technology company’s stock worth $36,671,000 after acquiring an additional 50,935 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of Perion Network during the 1st quarter worth about $267,000. 46.52% of the stock is currently owned by institutional investors.

About Perion Network (Get Rating)

Perion Network Ltd. provides digital advertising solutions to brands, agencies, and publishers in North America, Europe, and internationally. It provides 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.

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Analyst Recommendations for Perion Network (NASDAQ:PERI)

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