Perion Network (NASDAQ:PERI) Upgraded at StockNews.com

StockNews.com upgraded shares of Perion Network (NASDAQ:PERI) from a sell rating to a hold rating in a report released on Thursday morning.

Several other analysts have also issued reports on PERI. Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a research report on Thursday, February 20th. Lake Street Capital restated a “buy” rating and issued a $10.50 target price (down previously from $11.00) on shares of Perion Network in a research report on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $12.25.

Perion Network Trading Up 0.2 %

NASDAQ:PERI opened at $8.16 on Thursday. The company has a market capitalization of $365.77 million, a P/E ratio of 31.39, a P/E/G ratio of 0.76 and a beta of 1.53. The business’s 50-day moving average is $8.75 and its 200 day moving average is $8.52. Perion Network has a 12 month low of $7.47 and a 12 month high of $22.65.

Perion Network (NASDAQ:PERI) last released its quarterly earnings results on Wednesday, February 19th. The technology company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.15). Perion Network had a net margin of 2.53% and a return on equity of 5.55%. The firm had revenue of $129.58 million for the quarter, compared to analyst estimates of $130.44 million. On average, research analysts forecast that Perion Network will post 0.51 earnings per share for the current year.

Institutional Trading of Perion Network

Several large investors have recently added to or reduced their stakes in PERI. Captrust Financial Advisors raised its stake in Perion Network by 55.4% during the third quarter. Captrust Financial Advisors now owns 103,765 shares of the technology company’s stock worth $818,000 after purchasing an additional 37,005 shares during the period. PDT Partners LLC increased its position in shares of Perion Network by 58.8% during 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. Clearline Capital LP purchased a new stake in Perion Network in the 3rd quarter valued at about $2,221,000. Point72 Asset Management L.P. purchased a new stake in Perion Network in the 3rd quarter valued at about $134,000. Finally, Petrus Trust Company LTA lifted its position in Perion Network by 363.0% in the third quarter. Petrus Trust Company LTA now owns 100,324 shares of the technology company’s stock valued at $791,000 after buying an additional 78,656 shares during the last quarter. 68.12% of the stock is currently owned by hedge funds and other institutional investors.

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.