Perion Network’s (PERI) “Buy” Rating Reaffirmed at Lake Street Capital

Lake Street Capital reaffirmed their buy rating on shares of Perion Network (NASDAQ:PERI) in a report published on Wednesday,Benzinga reports. The firm currently has a $10.50 price target on the technology company’s stock.

Separately, Needham & Company LLC restated a “hold” rating on shares of Perion Network in a research note on Thursday. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Perion Network presently has an average rating of “Hold” and an average target price of $12.25.

Perion Network Stock Down 12.3 %

PERI stock opened at $8.55 on Wednesday. The stock has a market cap of $383.30 million, a price-to-earnings ratio of 9.19, a price-to-earnings-growth ratio of 0.87 and a beta of 1.48. Perion Network has a 52-week low of $7.47 and a 52-week high of $24.50. The business has a fifty day moving average of $8.89 and a two-hundred day moving average of $8.55.

Perion Network (NASDAQ:PERI) last announced its quarterly 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%. As a group, sell-side analysts anticipate that Perion Network will post 0.87 EPS for the current year.

Institutional Investors Weigh In On Perion Network

Hedge funds have recently added to or reduced their stakes in the business. ARK Investment Management LLC increased its position in shares of Perion Network by 24.2% during the third quarter. ARK Investment Management LLC now owns 238,544 shares of the technology company’s stock worth $1,880,000 after acquiring an additional 46,542 shares during the period. Equitable Trust Co. grew its stake in Perion Network by 19.1% during the 3rd quarter. Equitable Trust Co. now owns 65,770 shares of the technology company’s stock worth $518,000 after purchasing an additional 10,535 shares in the last quarter. GSA Capital Partners LLP increased its holdings in Perion Network by 436.2% during the 3rd quarter. GSA Capital Partners LLP now owns 76,463 shares of the technology company’s stock worth $603,000 after purchasing an additional 62,204 shares during the period. Captrust Financial Advisors raised its position in Perion Network by 55.4% in the 3rd quarter. Captrust Financial Advisors now owns 103,765 shares of the technology company’s stock valued at $818,000 after purchasing an additional 37,005 shares in the last quarter. Finally, PDT Partners LLC boosted its stake in shares of Perion Network by 58.8% in the 3rd quarter. PDT Partners LLC now owns 175,345 shares of the technology company’s stock valued at $1,382,000 after buying an additional 64,936 shares during the period. 68.12% of the stock is currently owned by institutional investors and hedge funds.

Perion Network Company Profile

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.