Perion Network’s (PERI) Buy Rating Reiterated at Lake Street Capital

Perion Network (NASDAQ:PERI)‘s stock had its “buy” rating reiterated by investment analysts at Lake Street Capital in a report released on Wednesday,Benzinga reports. They presently have a $10.50 price target on the technology company’s stock. Lake Street Capital’s price target suggests a potential upside of 22.81% from the company’s current price.

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

Perion Network Price Performance

Shares of NASDAQ:PERI opened at $8.55 on Wednesday. The business’s 50-day moving average is $8.89 and its 200-day moving average is $8.55. Perion Network has a 1 year low of $7.47 and a 1 year high of $24.50. The company has a market capitalization of $383.30 million, a price-to-earnings ratio of 9.19, a P/E/G ratio of 0.87 and a beta of 1.48.

Perion Network (NASDAQ:PERI) last posted its quarterly earnings results on Wednesday, February 19th. The technology company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). Perion Network had a return on equity of 10.93% and a net margin of 7.81%. Analysts anticipate that Perion Network will post 0.87 EPS for the current year.

Hedge Funds Weigh In On Perion Network

Hedge funds and other institutional investors have recently modified their holdings of the business. Tidal Investments LLC lifted its holdings in Perion Network by 4.6% during the third quarter. Tidal Investments LLC now owns 50,338 shares of the technology company’s stock worth $397,000 after acquiring an additional 2,225 shares during the period. Perkins Capital Management Inc. increased its position in shares of Perion Network by 4.2% during the 4th quarter. Perkins Capital Management Inc. now owns 55,450 shares of the technology company’s stock valued at $470,000 after purchasing an additional 2,240 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of Perion Network by 2.2% during the 4th quarter. Two Sigma Advisers LP now owns 116,600 shares of the technology company’s stock valued at $988,000 after acquiring an additional 2,500 shares during the period. Orion Portfolio Solutions LLC increased its position in Perion Network by 8.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 34,707 shares of the technology company’s stock worth $294,000 after buying an additional 2,711 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in Perion Network in the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 68.12% of the company’s stock.

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.