Perion Network (NASDAQ:PERI) PT Lowered to $7.50

Perion Network (NASDAQ:PERI) had its price target lowered by Stifel Nicolaus from $9.00 to $7.50 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price target would indicate a potential downside of 4.46% from the company’s current price.

A number of other analysts have also issued reports on PERI. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a report on Thursday, August 1st. Lake Street Capital upgraded Perion Network from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Wednesday, July 31st. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Perion Network currently has a consensus rating of “Hold” and a consensus target price of $12.13.

Perion Network Stock Performance

NASDAQ PERI opened at $7.85 on Monday. The stock has a market capitalization of $376.73 million, a P/E ratio of 3.74, a P/E/G ratio of 0.39 and a beta of 1.48. Perion Network has a 1 year low of $7.47 and a 1 year high of $32.99. The business’s fifty day moving average is $8.23 and its two-hundred day moving average is $10.03.

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, beating analysts’ consensus estimates of $0.12 by $0.03. The company had revenue of $108.69 million during 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, research analysts forecast that Perion Network will post 0.91 earnings per share for the current year.

Institutional Trading of Perion Network

Hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its holdings in shares of Perion Network by 16.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,105 shares of the technology company’s stock worth $188,000 after acquiring an additional 847 shares in the last quarter. Virtu Financial LLC acquired a new position in Perion Network during the fourth quarter worth $220,000. B. Riley Wealth Advisors Inc. acquired a new position in Perion Network during the first quarter worth $204,000. BigSur Wealth Management LLC acquired a new position in Perion Network during the second quarter worth $84,000. Finally, Lifestyle Asset Management Inc. acquired a new position in Perion Network during the first quarter worth $230,000. 68.12% of the stock is currently owned by hedge funds and other institutional investors.

About Perion Network

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.