Needham & Company LLC Reiterates “Hold” Rating for Perion Network (NASDAQ:PERI)

Perion Network (NASDAQ:PERI)‘s stock had its “hold” rating reissued by equities research analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports.

PERI has been the topic of a number of other reports. StockNews.com lowered shares of Perion Network from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Roth Capital lowered shares of Perion Network from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 9th. Oppenheimer lowered shares of Perion Network from an “outperform” rating to a “market perform” rating in a research note on Monday, June 10th. Roth Mkm reiterated a “neutral” rating and issued a $13.00 price target (down from $35.00) on shares of Perion Network in a research note on Tuesday, April 9th. Finally, Lake Street Capital upgraded shares of Perion Network from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Perion Network presently has an average rating of “Hold” and a consensus target price of $21.50.

Perion Network Stock Performance

Shares of PERI opened at $8.77 on Thursday. The stock has a market capitalization of $420.87 million, a PE ratio of 4.18, a P/E/G ratio of 0.45 and a beta of 1.41. Perion Network has a 1 year low of $7.84 and a 1 year high of $36.86. The company’s 50-day simple moving average is $9.49 and its 200-day simple moving average is $16.47.

Perion Network (NASDAQ:PERI) last released its earnings results on Wednesday, May 8th. The technology company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Perion Network had a return on equity of 20.70% and a net margin of 13.94%. The firm had revenue of $157.82 million for the quarter, compared to analysts’ expectations of $156.96 million. On average, sell-side analysts predict that Perion Network will post 0.86 earnings per share for the current year.

Institutional Investors Weigh In On Perion Network

Large investors have recently modified their holdings of the company. Naples Money Management LLC acquired a new stake in shares of Perion Network in the fourth quarter valued at approximately $29,000. Principal Securities Inc. acquired a new stake in shares of Perion Network during the fourth quarter worth $49,000. Blue Trust Inc. lifted its holdings in shares of Perion Network by 42.3% during the fourth quarter. Blue Trust Inc. now owns 1,658 shares of the technology company’s stock worth $51,000 after purchasing an additional 493 shares during the period. PNC Financial Services Group Inc. lifted 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 worth $188,000 after purchasing an additional 847 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Perion Network during the fourth quarter worth $220,000. 68.12% of the stock is 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.