Perion Network (NASDAQ:PERI) Upgraded at StockNews.com

Perion Network (NASDAQ:PERI) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Several other research analysts have also recently issued reports on PERI. Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a report on Thursday, February 20th. Lake Street Capital reiterated a “buy” rating and set a $10.50 target price (down previously from $11.00) on shares of Perion Network in a research report on Wednesday, February 19th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Perion Network currently has a consensus rating of “Hold” and a consensus target price of $12.25.

Perion Network Price Performance

Shares of PERI stock traded up $0.07 during midday trading on Thursday, hitting $8.14. The company had a trading volume of 364,528 shares, compared to its average volume of 582,690. The stock has a market cap of $364.88 million, a price-to-earnings ratio of 31.31, a PEG ratio of 0.76 and a beta of 1.53. The company’s 50 day simple moving average is $8.76 and its 200 day simple moving average is $8.52. Perion Network has a 52-week low of $7.47 and a 52-week high of $22.69.

Perion Network (NASDAQ:PERI) last posted its quarterly earnings data 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). The firm had revenue of $129.58 million during the quarter, compared to analysts’ expectations of $130.44 million. Perion Network had a net margin of 2.53% and a return on equity of 5.55%. Analysts anticipate that Perion Network will post 0.51 EPS for the current year.

Institutional Trading of Perion Network

Several hedge funds and other institutional investors have recently made changes to their positions in PERI. Sphera Management Technology Funds Ltd purchased a new position in Perion Network in the fourth quarter valued at about $995,000. Two Sigma Advisers LP increased its stake in Perion Network by 2.2% in the 4th quarter. Two Sigma Advisers LP now owns 116,600 shares of the technology company’s stock valued at $988,000 after purchasing an additional 2,500 shares in the last quarter. Two Sigma Investments LP raised its holdings in Perion Network by 5.0% during the fourth quarter. Two Sigma Investments LP now owns 200,862 shares of the technology company’s stock worth $1,701,000 after purchasing an additional 9,592 shares during the last quarter. State of Wyoming boosted its position in Perion Network by 217.2% during the fourth quarter. State of Wyoming now owns 19,676 shares of the technology company’s stock worth $167,000 after purchasing an additional 13,472 shares in the last quarter. Finally, Systematic Financial Management LP grew its holdings in Perion Network by 38.3% in the fourth quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company’s stock valued at $5,489,000 after purchasing an additional 179,557 shares during the last quarter. Institutional investors and hedge funds own 68.12% of the company’s stock.

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.