Perion Network (NASDAQ:PERI) Upgraded at Zacks Research

Zacks Research upgraded shares of Perion Network (NASDAQ:PERI) from a hold rating to a strong-buy rating in a report released on Monday,Zacks reports.

Separately, Weiss Ratings downgraded Perion Network from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Perion Network has an average rating of “Moderate Buy” and an average price target of $13.88.

Perion Network Trading Up 1.5%

Perion Network stock opened at $8.68 on Monday. Perion Network has a 52 week low of $7.63 and a 52 week high of $11.27. The stock has a market cap of $338.78 million, a P/E ratio of -24.80, a price-to-earnings-growth ratio of 1.00 and a beta of 1.13. The stock has a 50 day moving average of $9.24 and a 200-day moving average of $9.42.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings results on Tuesday, August 11th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Perion Network had a negative net margin of 2.95% and a positive return on equity of 2.43%. The business had revenue of $98.24 million during the quarter, compared to analyst estimates of $96.72 million. As a group, equities analysts predict that Perion Network will post 0.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Perion Network

In other news, Director Eyal Kaplan sold 2,916 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $8.72, for a total value of $25,427.52. Following the transaction, the director directly owned 51,226 shares in the company, valued at approximately $446,690.72. This trade represents a 5.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 6,767 shares of company stock worth $58,970 over the last 90 days. 2.78% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Perion Network

A number of institutional investors have recently modified their holdings of the business. Systematic Financial Management LP lifted its holdings in Perion Network by 5.9% in the first quarter. Systematic Financial Management LP now owns 869,066 shares of the technology company’s stock worth $8,689,000 after acquiring an additional 48,246 shares during the last quarter. CastleKnight Management LP grew its holdings in shares of Perion Network by 13.8% during the fourth quarter. CastleKnight Management LP now owns 479,020 shares of the technology company’s stock valued at $4,589,000 after purchasing an additional 58,000 shares during the last quarter. Sei Investments Co. raised its position in shares of Perion Network by 100.2% during the 1st quarter. Sei Investments Co. now owns 166,538 shares of the technology company’s stock worth $1,664,000 after purchasing an additional 83,359 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Perion Network during the 1st quarter worth approximately $1,568,000. Finally, Perkins Capital Management Inc. lifted its holdings in shares of Perion Network by 13.4% in the 1st quarter. Perkins Capital Management Inc. now owns 156,865 shares of the technology company’s stock worth $1,567,000 after purchasing an additional 18,490 shares during the last quarter. Institutional investors own 68.12% of the company’s stock.

Perion Network Company Profile

Perion Network Ltd. is a global advertising technology company that develops and operates digital advertising solutions for brands, agencies, publishers and retailers. Its technology supports campaign planning, audience targeting, media buying, creative delivery and performance measurement across multiple digital channels, including search, social, display, video, connected television and retail media.

The company’s businesses have included Undertone, which provides digital advertising and creative solutions; Hivestack, a platform for programmatic digital out-of-home advertising; and other technology and media offerings designed to help advertisers reach audiences and help publishers monetize their content.