Perion Network Ltd. (NASDAQ:PERI) Given Average Recommendation of “Hold” by Brokerages

Perion Network Ltd. (NASDAQ:PERI) has received a consensus rating of “Hold” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $12.13.

Several equities analysts have issued reports on PERI shares. Stifel Nicolaus dropped their target price on Perion Network from $9.00 to $7.50 and set a “hold” rating on the stock in a research report on Monday, October 14th. Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a research report on Thursday, August 1st. Finally, Lake Street Capital upgraded Perion Network from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Wednesday, July 31st.

Perion Network Stock Performance

Shares of PERI stock opened at $7.89 on Friday. The stock’s 50-day moving average is $8.18 and its two-hundred day moving average is $9.54. The firm has a market cap of $378.65 million, a price-to-earnings ratio of 3.76, a PEG ratio of 0.39 and a beta of 1.48. Perion Network has a 1 year low of $7.47 and a 1 year high of $32.99.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.03. The firm had revenue of $108.69 million for the quarter, compared to analysts’ expectations of $106.98 million. Perion Network had a return on equity of 15.65% and a net margin of 11.34%. As a group, research analysts predict that Perion Network will post 0.91 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. BigSur Wealth Management LLC purchased a new position in shares of Perion Network during the 2nd quarter worth $84,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Perion Network by 17.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,244 shares of the technology company’s stock worth $128,000 after purchasing an additional 2,299 shares during the period. Van ECK Associates Corp lifted its stake in shares of Perion Network by 9.7% during the 2nd quarter. Van ECK Associates Corp now owns 16,540 shares of the technology company’s stock worth $138,000 after purchasing an additional 1,468 shares during the period. Riverwater Partners LLC acquired a new stake in shares of Perion Network during the 2nd quarter worth $157,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Perion Network during the 2nd quarter worth $157,000. Hedge funds and other institutional investors own 68.12% of the company’s stock.

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.