Brokerages Set Perion Network Ltd. (NASDAQ:PERI) Target Price at $13.67

Shares of Perion Network Ltd. (NASDAQ:PERI) have been given an average rating of “Hold” by the five research firms that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $13.67.

Several research firms have recently commented on PERI. Oppenheimer downgraded Perion Network from an “outperform” rating to a “market perform” rating in a report on Monday, June 10th. Lake Street Capital raised shares of Perion Network from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Wednesday, July 31st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a research report on Thursday, August 1st.

Perion Network Price Performance

Shares of NASDAQ:PERI opened at $7.77 on Monday. The company’s 50-day moving average price is $8.32 and its two-hundred day moving average price is $11.03. Perion Network has a one year low of $7.47 and a one year high of $32.99. The stock has a market capitalization of $372.89 million, a PE ratio of 3.70, a price-to-earnings-growth ratio of 0.40 and a beta of 1.48.

Perion Network (NASDAQ:PERI) last released its earnings results on Wednesday, July 31st. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.03. The business had revenue of $108.69 million for the quarter, compared to analyst estimates of $106.98 million. Perion Network had a return on equity of 15.65% and a net margin of 11.34%. On average, analysts anticipate that Perion Network will post 0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PERI. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Perion Network by 18.8% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,943,795 shares of the technology company’s stock worth $88,657,000 after buying an additional 624,441 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Perion Network by 43.5% during the second quarter. Acadian Asset Management LLC now owns 1,722,676 shares of the technology company’s stock worth $14,367,000 after acquiring an additional 522,424 shares during the period. Vanguard Group Inc. grew its position 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 valued at $33,387,000 after purchasing an additional 35,476 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Perion Network by 4.4% in the second quarter. Renaissance Technologies LLC now owns 1,333,615 shares of the technology company’s stock valued at $11,136,000 after purchasing an additional 55,745 shares during the last quarter. Finally, Congress Asset Management Co. MA increased its stake in shares of Perion Network by 9.0% during the fourth quarter. Congress Asset Management Co. MA now owns 841,948 shares of the technology company’s stock worth $25,991,000 after purchasing an additional 69,342 shares during the period. 68.12% of the stock is owned by institutional investors and hedge funds.

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.