Perion Network (NASDAQ:PERI) Upgraded to “Buy” at Lake Street Capital

Lake Street Capital upgraded shares of Perion Network (NASDAQ:PERI) from a hold rating to a buy rating in a report issued on Wednesday, Marketbeat.com reports. Lake Street Capital currently has $10.00 target price on the technology company’s stock.

PERI has been the topic of several other research reports. StockNews.com cut shares of Perion Network from a buy rating to a hold rating in a research note on Tuesday, May 14th. Needham & Company LLC cut shares of Perion Network from a buy rating to a hold rating in a research note on Monday, June 10th. Roth Capital cut shares of Perion Network from a buy rating to a neutral rating in a research note on Tuesday, April 9th. Roth Mkm reaffirmed a neutral rating and set a $13.00 target price (down previously from $35.00) on shares of Perion Network in a research note on Tuesday, April 9th. Finally, Oppenheimer cut shares of Perion Network from an outperform rating to a market perform rating in a research note on Monday, June 10th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Perion Network presently has an average rating of Hold and an average target price of $21.50.

Perion Network Stock Performance

Perion Network stock opened at $8.77 on Wednesday. The company’s fifty day moving average price is $9.49 and its 200 day moving average price is $16.47. Perion Network has a 1 year low of $7.84 and a 1 year high of $36.86. The stock has a market capitalization of $420.87 million, a P/E ratio of 4.18, a P/E/G ratio of 0.45 and a beta of 1.41.

Perion Network (NASDAQ:PERI) last released its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.35 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $156.96 million. Sell-side analysts predict that Perion Network will post 0.86 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PERI. Vanguard Group Inc. raised its holdings in Perion Network by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,435,197 shares of the technology company’s stock valued at $43,960,000 after buying an additional 26,181 shares during the period. Blue Trust Inc. raised its holdings in Perion Network by 42.3% in the 4th quarter. Blue Trust Inc. now owns 1,658 shares of the technology company’s stock valued at $51,000 after buying an additional 493 shares during the period. Allworth Financial LP raised its holdings in Perion Network by 0.8% in the 4th quarter. Allworth Financial LP now owns 60,676 shares of the technology company’s stock valued at $1,873,000 after buying an additional 464 shares during the period. Wakefield Asset Management LLLP raised its holdings in Perion Network by 10.6% in the 4th quarter. Wakefield Asset Management LLLP now owns 28,833 shares of the technology company’s stock valued at $890,000 after buying an additional 2,761 shares during the period. Finally, Equitable Trust Co. raised its holdings in Perion Network by 10.1% in the 4th quarter. Equitable Trust Co. now owns 36,429 shares of the technology company’s stock valued at $1,125,000 after buying an additional 3,350 shares during the period. Hedge funds and other 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.