Perion Network (NASDAQ:PERI) Given “Hold” Rating at Needham & Company LLC

Perion Network (NASDAQ:PERI)‘s stock had its “hold” rating reaffirmed by Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports.

Perion Network Price Performance

Shares of PERI stock opened at $8.55 on Thursday. Perion Network has a 1 year low of $7.47 and a 1 year high of $24.50. The stock has a market capitalization of $383.30 million, a price-to-earnings ratio of 9.19, a PEG ratio of 0.87 and a beta of 1.48. The company’s fifty day simple moving average is $8.89 and its two-hundred day simple moving average is $8.55.

Perion Network (NASDAQ:PERI) last announced its earnings results on Wednesday, February 19th. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). Perion Network had a net margin of 7.81% and a return on equity of 10.93%. Equities research analysts anticipate that Perion Network will post 0.87 EPS for the current year.

Hedge Funds Weigh In On Perion Network

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

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.