Brokerages Set Perion Network Ltd. (NASDAQ:PERI) PT at $12.25

Perion Network Ltd. (NASDAQ:PERI) has been given an average recommendation of “Hold” by the six analysts that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $12.25.

A number of equities research analysts have recently commented on the stock. StockNews.com cut shares of Perion Network from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a report on Thursday, February 20th. Finally, Lake Street Capital reiterated a “buy” rating and set a $10.50 price target (down previously from $11.00) on shares of Perion Network in a report on Wednesday, February 19th.

Institutional Investors Weigh In On Perion Network

Several institutional investors and hedge funds have recently added to or reduced their stakes in PERI. Russell Investments Group Ltd. purchased a new stake in Perion Network in the fourth quarter worth approximately $41,000. SBI Securities Co. Ltd. purchased a new stake in Perion Network in the fourth quarter worth approximately $45,000. Perritt Capital Management Inc purchased a new stake in Perion Network in the fourth quarter worth approximately $127,000. Point72 Asset Management L.P. purchased a new stake in Perion Network in the third quarter worth approximately $134,000. Finally, XTX Topco Ltd purchased a new stake in Perion Network in the third quarter worth approximately $150,000. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Perion Network Stock Performance

Shares of NASDAQ PERI opened at $8.30 on Thursday. Perion Network has a fifty-two week low of $7.47 and a fifty-two week high of $23.08. The company has a 50 day simple moving average of $8.88 and a two-hundred day simple moving average of $8.55. The company has a market capitalization of $372.05 million, a price-to-earnings ratio of 31.92, a P/E/G ratio of 0.76 and a beta of 1.48.

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

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.