Perion Network Ltd. (NASDAQ:PERI) Receives $24.60 Average PT from Analysts

Shares of Perion Network Ltd. (NASDAQ:PERI) have been assigned an average recommendation of “Hold” from the six analysts that are presently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation. The average twelve-month target price among analysts that have covered the stock in the last year is $24.60.

A number of research analysts recently weighed in on PERI shares. Roth Mkm reaffirmed a “neutral” rating and set a $13.00 price objective (down previously from $35.00) on shares of Perion Network in a research report on Tuesday, April 9th. Oppenheimer lowered Perion Network from an “outperform” rating to a “market perform” rating in a research report on Monday, June 10th. Roth Capital lowered Perion Network from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 9th. Lake Street Capital reduced their target price on Perion Network from $16.00 to $10.00 and set a “hold” rating for the company in a report on Tuesday, June 11th. Finally, Needham & Company LLC lowered Perion Network from a “buy” rating to a “hold” rating in a report on Monday, June 10th.

Perion Network Stock Performance

Shares of NASDAQ:PERI opened at $8.37 on Friday. Perion Network has a 52-week low of $8.14 and a 52-week high of $36.86. The firm has a market capitalization of $401.68 million, a P/E ratio of 3.99, a P/E/G ratio of 0.44 and a beta of 1.40. The stock has a 50 day moving average price of $11.23 and a 200-day moving average price of $20.19.

Perion Network (NASDAQ:PERI) last posted its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Perion Network had a net margin of 13.94% and a return on equity of 20.70%. The company had revenue of $157.82 million for the quarter, compared to the consensus estimate of $156.96 million. On average, equities analysts forecast that Perion Network will post 0.86 EPS for the current fiscal year.

Institutional Trading of Perion Network

Institutional investors and hedge funds have recently modified their holdings of the business. Naples Money Management LLC purchased a new position in shares of Perion Network in the 4th quarter worth $29,000. Principal Securities Inc. purchased a new position in shares of Perion Network in the 4th quarter worth $49,000. Blue Trust Inc. boosted its stake in shares of Perion Network by 42.3% in the 4th quarter. Blue Trust Inc. now owns 1,658 shares of the technology company’s stock worth $51,000 after buying an additional 493 shares during the last quarter. AllSquare Wealth Management LLC boosted its stake in shares of Perion Network by 154.5% in the 3rd quarter. AllSquare Wealth Management LLC now owns 5,600 shares of the technology company’s stock worth $172,000 after buying an additional 3,400 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Perion Network by 16.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,105 shares of the technology company’s stock worth $188,000 after buying an additional 847 shares during the last quarter. Institutional investors own 68.12% of the company’s stock.

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.