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

Perion Network Ltd. (NASDAQ:PERIGet Free Report) has been given a consensus recommendation of “Hold” by the six analysts that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $25.80.

PERI has been the topic of several research reports. Roth Mkm restated a “neutral” rating and set a $13.00 price objective (down previously from $35.00) on shares of Perion Network in a report on Tuesday, April 9th. Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective on shares of Perion Network in a report on Thursday, May 9th. Roth Capital lowered Perion Network from a “buy” rating to a “neutral” rating in a report on Tuesday, April 9th. StockNews.com downgraded Perion Network from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Finally, Lake Street Capital restated a “hold” rating and set a $16.00 price objective on shares of Perion Network in a research note on Monday, April 8th.

Check Out Our Latest Report on PERI

Perion Network Price Performance

Perion Network stock opened at $12.34 on Tuesday. The business has a 50 day moving average of $14.30 and a 200-day moving average of $22.67. Perion Network has a 1 year low of $10.77 and a 1 year high of $36.86. The company has a market capitalization of $592.20 million, a P/E ratio of 5.88, a P/E/G ratio of 0.41 and a beta of 1.37.

Perion Network (NASDAQ:PERIGet Free Report) last released its earnings results on Wednesday, May 8th. The technology company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The business had revenue of $157.82 million for the quarter, compared to analyst estimates of $156.96 million. Perion Network had a return on equity of 20.70% and a net margin of 13.94%. Equities analysts anticipate that Perion Network will post 1.34 EPS for the current year.

Institutional Trading of Perion Network

Several institutional investors and hedge funds have recently modified their holdings of the company. Cetera Advisors LLC bought a new position in shares of Perion Network during the 1st quarter valued at approximately $394,000. Tidal Investments LLC bought a new position in Perion Network in the 1st quarter valued at $851,000. B. Riley Wealth Advisors Inc. purchased a new stake in Perion Network in the first quarter worth $204,000. Pitcairn Co. boosted its stake in shares of Perion Network by 9.0% during the first quarter. Pitcairn Co. now owns 12,406 shares of the technology company’s stock valued at $279,000 after purchasing an additional 1,027 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Perion Network by 2.4% in the first quarter. Vanguard Group Inc. now owns 1,485,179 shares of the technology company’s stock worth $33,387,000 after purchasing an additional 35,476 shares during the last quarter. 68.12% of the stock is currently owned by institutional investors.

About Perion Network

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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.

Further Reading

Analyst Recommendations for Perion Network (NASDAQ:PERI)

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