Brokerages Set Perion Network Ltd. (NASDAQ:PERI) Target Price at $12.13

Perion Network Ltd. (NASDAQ:PERI) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $12.13.

PERI has been the subject of several recent research reports. Lake Street Capital upgraded Perion Network from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Wednesday, July 31st. Stifel Nicolaus cut their target price on Perion Network from $9.00 to $7.50 and set a “hold” rating on the stock in a report on Monday, October 14th. Finally, Needham & Company LLC restated a “hold” rating on shares of Perion Network in a report on Thursday, August 1st.

Perion Network Trading Down 2.2 %

Shares of NASDAQ:PERI opened at $8.15 on Friday. Perion Network has a 1 year low of $7.47 and a 1 year high of $32.99. The business has a fifty day simple moving average of $8.13 and a 200 day simple moving average of $9.38. The firm has a market cap of $385.55 million, a price-to-earnings ratio of 5.29, a P/E/G ratio of 0.41 and a beta of 1.48.

Perion Network (NASDAQ:PERI) last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.03. Perion Network had a return on equity of 15.65% and a net margin of 11.34%. The business had revenue of $108.69 million during the quarter, compared to analyst estimates of $106.98 million. On average, sell-side analysts forecast that Perion Network will post 0.91 EPS for the current year.

Institutional Investors Weigh In On Perion Network

Several hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its position in shares of Perion Network by 16.1% in 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 last quarter. Pitcairn Co. grew its position in shares of Perion Network by 9.0% in the first quarter. Pitcairn Co. now owns 12,406 shares of the technology company’s stock valued at $279,000 after purchasing an additional 1,027 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Perion Network by 9.7% in the second quarter. Van ECK Associates Corp now owns 16,540 shares of the technology company’s stock valued at $138,000 after purchasing an additional 1,468 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Perion Network by 17.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,244 shares of the technology company’s stock valued at $128,000 after purchasing an additional 2,299 shares during the last quarter. Finally, Atomi Financial Group Inc. grew its position in shares of Perion Network by 29.7% in the first quarter. Atomi Financial Group Inc. now owns 12,640 shares of the technology company’s stock valued at $284,000 after purchasing an additional 2,896 shares during the last quarter. 68.12% of the stock is owned by institutional investors and hedge funds.

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.