Brokerages Set Perion Network Ltd. (NASDAQ:PERI) Price Target at $25.80

Perion Network Ltd. (NASDAQ:PERI) has been given a consensus recommendation of “Hold” by the six brokerages that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $25.80.

A number of research analysts have weighed in on the stock. Roth Mkm reaffirmed a “neutral” rating and set a $13.00 price target (down from $35.00) on shares of Perion Network in a research report on Tuesday, April 9th. StockNews.com cut shares of Perion Network from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of Perion Network in a research report on Thursday, May 9th. Lake Street Capital reiterated a “hold” rating and set a $16.00 price objective on shares of Perion Network in a research note on Monday, April 8th. Finally, Roth Capital lowered shares of Perion Network from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 9th.

Institutional Trading of Perion Network

A number of hedge funds and other institutional investors have recently made changes to their positions in PERI. Cetera Advisors LLC bought a new stake in Perion Network during the first quarter valued at $394,000. Tidal Investments LLC bought a new stake in Perion Network during the first quarter valued at $851,000. B. Riley Wealth Advisors Inc. bought a new stake in Perion Network during the first quarter valued at $204,000. Pitcairn Co. increased its stake in 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 last quarter. Finally, Vanguard Group Inc. increased 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 valued at $33,387,000 after purchasing an additional 35,476 shares during the last quarter. Institutional investors own 68.12% of the company’s stock.

Perion Network Price Performance

Shares of NASDAQ PERI opened at $12.50 on Tuesday. The company has a 50-day simple moving average of $14.10 and a 200-day simple moving average of $22.53. Perion Network has a 12 month low of $10.77 and a 12 month high of $36.86. The company has a market cap of $599.89 million, a PE ratio of 5.95, a price-to-earnings-growth ratio of 0.42 and a beta of 1.37.

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