Perion Network Ltd. (NASDAQ:PERI) Receives $25.80 Consensus Price Target from Brokerages

Perion Network Ltd. (NASDAQ:PERI) has been given a consensus rating of “Hold” by the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $25.80.

A number of brokerages recently weighed in on PERI. Needham & Company LLC lowered their price objective on Perion Network from $35.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. Lake Street Capital reiterated a “hold” rating and issued a $16.00 price target on shares of Perion Network in a research note on Monday, April 8th. StockNews.com downgraded shares of Perion Network from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Roth Capital downgraded shares of Perion Network from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 9th. Finally, Roth Mkm reissued a “neutral” rating and set a $13.00 price target (down from $35.00) on shares of Perion Network in a report on Tuesday, April 9th.

Perion Network Trading Up 0.2 %

NASDAQ PERI opened at $12.86 on Friday. Perion Network has a 12 month low of $10.77 and a 12 month high of $36.86. The stock’s fifty day moving average price is $18.26 and its 200-day moving average price is $24.56. The stock has a market cap of $617.15 million, a P/E ratio of 5.50, a P/E/G ratio of 0.40 and a beta of 1.37.

Perion Network (NASDAQ:PERI) last announced its quarterly earnings data on Wednesday, February 7th. The technology company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.93 by $0.11. The company had revenue of $234.23 million for the quarter, compared to the consensus estimate of $233.09 million. Perion Network had a net margin of 15.80% and a return on equity of 23.06%. Perion Network’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 EPS. As a group, analysts forecast that Perion Network will post 1.45 earnings per share for the current fiscal year.

Institutional Trading of Perion Network

A number of hedge funds and other institutional investors have recently bought and sold shares of PERI. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Perion Network in the third quarter worth approximately $2,573,000. Blue Trust Inc. lifted its holdings in Perion Network by 42.3% in the 4th quarter. Blue Trust Inc. now owns 1,658 shares of the technology company’s stock worth $51,000 after purchasing an additional 493 shares in the last quarter. Vanguard Group Inc. boosted its stake in Perion Network by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,435,197 shares of the technology company’s stock worth $43,960,000 after purchasing an additional 26,181 shares during the period. Tower Research Capital LLC TRC purchased a new stake in Perion Network during the 3rd quarter valued at approximately $365,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in Perion Network by 4.1% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,039,039 shares of the technology company’s stock valued at $62,456,000 after acquiring an additional 80,000 shares during the last quarter. Hedge funds and other institutional investors own 68.12% of the company’s stock.

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.