Perion Network (NASDAQ:PERI) Cut to “Sell” at StockNews.com

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

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

Perion Network Stock Performance

Shares of NASDAQ:PERI opened at $8.54 on Thursday. The company’s fifty day moving average is $8.89 and its 200-day moving average is $8.55. Perion Network has a 52 week low of $7.47 and a 52 week high of $23.74. The company has a market capitalization of $382.85 million, a PE ratio of 32.85, a P/E/G ratio of 0.76 and a beta of 1.48.

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

Hedge Funds Weigh In On Perion Network

Several large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. acquired a new stake in Perion Network during the 4th quarter worth $41,000. SBI Securities Co. Ltd. acquired a new position in shares of Perion Network during the 4th quarter worth about $45,000. Perritt Capital Management Inc bought a new stake in shares of Perion Network in the 4th quarter valued at about $127,000. Point72 Asset Management L.P. bought a new stake in Perion Network in the third quarter valued at approximately $134,000. Finally, XTX Topco Ltd acquired a new stake in Perion Network during the 3rd quarter worth $150,000. 68.12% of the stock is currently owned by institutional investors and hedge funds.

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.