Brokerages Set Perion Network Ltd. (NASDAQ:PERI) PT at $12.13

Perion Network Ltd. (NASDAQ:PERI) has been given an average recommendation of “Hold” by the six brokerages that are covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $12.13.

Several brokerages have weighed in on PERI. Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a research report on Thursday, August 1st. Lake Street Capital raised shares of Perion Network from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus dropped their price target on shares of Perion Network from $9.00 to $7.50 and set a “hold” rating for the company in a research report on Monday, October 14th.

Institutional Investors Weigh In On Perion Network

Institutional investors and hedge funds have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. lifted its position in 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 valued at $88,657,000 after acquiring an additional 624,441 shares during the period. Acadian Asset Management LLC boosted its stake in 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 in the last quarter. Vanguard Group Inc. boosted its stake in Perion Network by 2.4% during the first quarter. Vanguard Group Inc. now owns 1,485,179 shares of the technology company’s stock worth $33,387,000 after acquiring an additional 35,476 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Perion Network by 4.4% during the second quarter. Renaissance Technologies LLC now owns 1,333,615 shares of the technology company’s stock worth $11,136,000 after acquiring an additional 55,745 shares in the last quarter. Finally, Y.D. More Investments Ltd boosted its stake in Perion Network by 580.4% during the second quarter. Y.D. More Investments Ltd now owns 264,379 shares of the technology company’s stock worth $2,191,000 after acquiring an additional 225,520 shares in the last quarter. 68.12% of the stock is owned by hedge funds and other institutional investors.

Perion Network Stock Performance

PERI stock opened at $8.02 on Friday. Perion Network has a 52 week low of $7.47 and a 52 week high of $32.99. The firm’s fifty day moving average is $8.16 and its 200 day moving average is $9.45. The firm has a market cap of $379.43 million, a P/E ratio of 5.21, a P/E/G ratio of 0.41 and a beta of 1.48.

Perion Network (NASDAQ:PERI) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. The business had revenue of $108.69 million during the quarter, compared to analysts’ expectations of $106.98 million. Perion Network had a net margin of 11.34% and a return on equity of 15.65%. As a group, analysts forecast that Perion Network will post 0.91 EPS for the current year.

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.