Perion Network (NASDAQ:PERI) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Perion Network (NASDAQ:PERI) from a hold rating to a buy rating in a research report released on Monday morning.

Several other brokerages have also issued reports on PERI. Roth Capital lowered shares of Perion Network from a buy rating to a neutral rating in a research report on Tuesday, April 9th. Lake Street Capital reiterated a hold rating and set a $16.00 price objective on shares of Perion Network in a research note on Monday, April 8th. Roth Mkm reaffirmed a neutral rating and issued a $13.00 price target (down from $35.00) on shares of Perion Network in a research note on Tuesday, April 9th. Finally, Needham & Company LLC reduced their price objective on Perion Network from $35.00 to $18.00 and set a buy rating for the company in a research note on Monday, April 8th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $25.80.

Perion Network Price Performance

Shares of Perion Network stock opened at $12.86 on Monday. The firm has a market cap of $617.15 million, a PE ratio of 5.50, a P/E/G ratio of 0.40 and a beta of 1.37. Perion Network has a twelve month low of $10.77 and a twelve month high of $36.86. The business has a 50-day moving average price of $18.07 and a 200 day moving average price of $24.46.

Perion Network (NASDAQ:PERI) last posted its quarterly earnings data on Wednesday, February 7th. The technology company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. Perion Network had a return on equity of 23.06% and a net margin of 15.80%. The business had revenue of $234.23 million during the quarter, compared to analysts’ expectations of $233.09 million. During the same period in the previous year, the business earned $0.84 earnings per share. The business’s revenue was up 11.7% compared to the same quarter last year. On average, sell-side analysts expect that Perion Network will post 1.45 EPS for the current year.

Hedge Funds Weigh In On Perion Network

A number of institutional investors have recently added to or reduced their stakes in PERI. Naples Money Management LLC acquired a new stake in shares of Perion Network in the 4th quarter worth $29,000. Principal Securities Inc. purchased a new position in Perion Network during the fourth quarter worth about $49,000. Blue Trust Inc. boosted 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 valued at $51,000 after purchasing an additional 493 shares during the last quarter. AllSquare Wealth Management LLC grew its stake in shares of Perion Network by 154.5% in the 3rd quarter. AllSquare Wealth Management LLC now owns 5,600 shares of the technology company’s stock valued at $172,000 after buying an additional 3,400 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Perion Network by 16.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,105 shares of the technology company’s stock worth $188,000 after buying an additional 847 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.