Perion Network Ltd. (NASDAQ:PERI) Receives $13.67 Consensus Target Price from Analysts

Shares of Perion Network Ltd. (NASDAQ:PERI) have been assigned an average rating of “Hold” from the five research firms that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $13.67.

Several research firms recently weighed in on PERI. Lake Street Capital upgraded shares of Perion Network from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Wednesday, July 31st. Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a research report on Thursday, August 1st. Finally, Oppenheimer downgraded Perion Network from an “outperform” rating to a “market perform” rating in a research note on Monday, June 10th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its holdings in shares of Perion Network by 16.1% during the fourth 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 period. Virtu Financial LLC bought a new position in Perion Network in the 4th quarter valued at $220,000. B. Riley Wealth Advisors Inc. bought a new position in Perion Network in the 1st quarter valued at $204,000. BigSur Wealth Management LLC purchased a new stake in shares of Perion Network during the 2nd quarter valued at $84,000. Finally, Lifestyle Asset Management Inc. purchased a new position in Perion Network in the 1st quarter worth $230,000. 68.12% of the stock is currently owned by institutional investors and hedge funds.

Perion Network Stock Down 1.0 %

Shares of NASDAQ PERI opened at $7.84 on Monday. Perion Network has a 52-week low of $7.47 and a 52-week high of $32.99. The firm has a fifty day moving average of $8.31 and a 200-day moving average of $11.00. The stock has a market capitalization of $376.25 million, a PE ratio of 3.73, a P/E/G ratio of 0.40 and a beta of 1.48.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The firm had revenue of $108.69 million for the quarter, compared to analyst estimates of $106.98 million. Perion Network had a net margin of 11.34% and a return on equity of 15.65%. Equities research analysts expect that Perion Network will post 0.91 EPS for the current fiscal year.

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.