Perion Network (NASDAQ:PERI) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Perion Network (NASDAQ:PERI) in a research report report published on Thursday morning,Benzinga reports.

Perion Network Trading Down 0.1 %

NASDAQ:PERI opened at $8.54 on Thursday. Perion Network has a twelve month low of $7.47 and a twelve month high of $23.74. The firm has a market capitalization of $382.85 million, a price-to-earnings ratio of 32.85, a PEG ratio of 0.76 and a beta of 1.48. The firm’s fifty day simple moving average is $8.89 and its 200 day simple moving average is $8.55.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings data 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 5.54% and a net margin of 2.53%. The firm had revenue of $129.58 million during the quarter, compared to analyst estimates of $130.44 million. On average, analysts predict that Perion Network will post 0.51 earnings per share for the current year.

Hedge Funds Weigh In On Perion Network

A number of institutional investors have recently added to or reduced their stakes in the company. Y.D. More Investments Ltd increased its position in shares of Perion Network by 10.3% in the 4th quarter. Y.D. More Investments Ltd now owns 391,332 shares of the technology company’s stock worth $3,346,000 after purchasing an additional 36,624 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of Perion Network by 436.2% in the 3rd quarter. GSA Capital Partners LLP now owns 76,463 shares of the technology company’s stock worth $603,000 after purchasing an additional 62,204 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Perion Network by 39.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company’s stock worth $2,984,000 after purchasing an additional 107,278 shares during the last quarter. PDT Partners LLC increased its position in shares of Perion Network by 58.8% in the 3rd quarter. PDT Partners LLC now owns 175,345 shares of the technology company’s stock worth $1,382,000 after purchasing an additional 64,936 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Perion Network in the 3rd quarter worth about $658,000. 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.