Perion Network Ltd. (NASDAQ:PERI) Receives $12.25 Average Target Price from Brokerages

Shares of Perion Network Ltd. (NASDAQ:PERI) have received an average rating of “Hold” from the six ratings firms that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $12.25.

A number of equities research analysts have issued reports on PERI shares. Lake Street Capital reaffirmed a “buy” rating and set a $10.50 price objective (down from $11.00) on shares of Perion Network in a report on Wednesday, February 19th. StockNews.com upgraded shares of Perion Network from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a report on Thursday, February 20th.

Institutional Investors Weigh In On Perion Network

A number of hedge funds have recently bought and sold shares of PERI. Private Capital Management LLC increased its holdings in shares of Perion Network by 33.4% in the 3rd quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company’s stock worth $18,816,000 after buying an additional 598,228 shares during the last quarter. Clearline Capital LP purchased a new stake in Perion Network during the third quarter valued at approximately $2,221,000. Systematic Financial Management LP lifted its stake in shares of Perion Network by 38.3% in the 4th quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company’s stock valued at $5,489,000 after purchasing an additional 179,557 shares during the last quarter. Sphera Management Technology Funds Ltd purchased a new position in shares of Perion Network in the 4th quarter worth approximately $995,000. Finally, JPMorgan Chase & Co. increased its position in shares of Perion Network by 39.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company’s stock valued at $2,984,000 after purchasing an additional 107,278 shares during the last quarter. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Perion Network Price Performance

Shares of NASDAQ PERI opened at $8.16 on Monday. Perion Network has a 1 year low of $7.47 and a 1 year high of $22.65. The firm has a fifty day moving average price of $8.75 and a 200-day moving average price of $8.53. The stock has a market cap of $365.77 million, a PE ratio of 31.39, a price-to-earnings-growth ratio of 0.76 and a beta of 1.53.

Perion Network (NASDAQ:PERI) last posted its quarterly earnings results on Wednesday, February 19th. The technology company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The business had revenue of $129.58 million for the quarter, compared to the consensus estimate of $130.44 million. Perion Network had a net margin of 2.53% and a return on equity of 5.55%. On average, research analysts expect that Perion Network will post 0.51 EPS for the current year.

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.