Perion Network (NASDAQ:PERI) Downgraded to Sell Rating by StockNews.com

StockNews.com cut shares of Perion Network (NASDAQ:PERI) from a hold rating to a sell rating in a report issued on Thursday.

Several other brokerages also recently commented on PERI. Lake Street Capital reiterated a “buy” rating and set a $10.50 price target (down previously from $11.00) on shares of Perion Network in a report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a research note on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.25.

Perion Network Trading Down 0.1 %

PERI stock opened at $8.54 on Thursday. The firm has a market cap of $382.85 million, a PE ratio of 32.85, a PEG ratio of 0.76 and a beta of 1.48. Perion Network has a 1 year low of $7.47 and a 1 year high of $23.74. The company has a fifty day simple moving average of $8.89 and a 200 day simple moving average of $8.55.

Perion Network (NASDAQ:PERI) last released its quarterly earnings results on Wednesday, February 19th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.15). The company had revenue of $129.58 million for the quarter, compared to the consensus estimate of $130.44 million. Perion Network had a return on equity of 5.54% and a net margin of 2.53%. As a group, analysts forecast that Perion Network will post 0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Perion Network

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Private Capital Management LLC raised its holdings in 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 valued at $18,816,000 after acquiring an additional 598,228 shares in the last quarter. Clearline Capital LP acquired a new position in shares of Perion Network in the third quarter valued at $2,221,000. Systematic Financial Management LP lifted its position in Perion Network by 38.3% in the fourth quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company’s stock worth $5,489,000 after purchasing an additional 179,557 shares during the period. Sphera Management Technology Funds Ltd bought a new position in Perion Network in the fourth quarter worth $995,000. Finally, JPMorgan Chase & Co. boosted its stake in Perion Network by 39.5% during the third quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company’s stock worth $2,984,000 after buying an additional 107,278 shares in the last quarter. Institutional investors and hedge funds 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.