Perion Network (NASDAQ:PERI) Sets New 1-Year Low at $10.86

Perion Network Ltd. (NASDAQ:PERI)’s stock price reached a new 52-week low on Monday . The stock traded as low as $10.86 and last traded at $10.87, with a volume of 313357 shares traded. The stock had previously closed at $10.98.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PERI shares. Needham & Company LLC decreased their price target on shares of Perion Network from $35.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. Roth Mkm reaffirmed a “neutral” rating and set a $13.00 target price (down from $35.00) on shares of Perion Network in a research note on Tuesday, April 9th. Roth Capital downgraded shares of Perion Network from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 9th. StockNews.com downgraded shares of Perion Network from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Finally, Lake Street Capital reiterated a “hold” rating and set a $16.00 price target on shares of Perion Network in a research report on Monday, April 8th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $25.80.

Perion Network Trading Up 4.4 %

The company has a market cap of $544.69 million, a price-to-earnings ratio of 4.85, a PEG ratio of 0.34 and a beta of 1.24. The firm’s fifty day simple moving average is $19.97 and its 200 day simple moving average is $25.41.

Perion Network (NASDAQ:PERI) last posted its quarterly earnings results on Wednesday, February 7th. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.93 by $0.11. Perion Network had a net margin of 15.80% and a return on equity of 23.06%. The company had revenue of $234.23 million during the quarter, compared to analysts’ expectations of $233.09 million. During the same quarter in the previous year, the business posted $0.84 EPS. The firm’s revenue was up 11.7% on a year-over-year basis. As a group, sell-side analysts expect that Perion Network Ltd. will post 1.45 EPS for the current year.

Institutional Trading of Perion Network

Several institutional investors have recently modified their holdings of the stock. Allworth Financial LP lifted its position in shares of Perion Network by 0.8% during the 4th quarter. Allworth Financial LP now owns 60,676 shares of the technology company’s stock worth $1,873,000 after buying an additional 464 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Perion Network by 42.3% during the 4th quarter. Blue Trust Inc. now owns 1,658 shares of the technology company’s stock worth $51,000 after buying an additional 493 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Perion Network by 12.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 7,353 shares of the technology company’s stock worth $225,000 after buying an additional 786 shares during the last quarter. Ronald Blue Trust Inc. raised its position in Perion Network by 227.2% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,165 shares of the technology company’s stock valued at $36,000 after purchasing an additional 809 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Perion Network by 16.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,105 shares of the technology company’s stock valued at $188,000 after purchasing an additional 847 shares during the last quarter. 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 provides 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.