StockNews.com Upgrades Perion Network (NASDAQ:PERI) to Buy

StockNews.com upgraded shares of Perion Network (NASDAQ:PERI) from a hold rating to a buy rating in a research report sent to investors on Monday morning.

Several other equities research analysts have also recently weighed in on PERI. Lake Street Capital reiterated a hold rating and set a $16.00 price objective on shares of Perion Network in a research report on Monday, April 8th. Needham & Company LLC decreased their price target on Perion Network from $35.00 to $18.00 and set a buy rating for the company in a report on Monday, April 8th. Roth Capital downgraded Perion Network from a buy rating to a neutral rating in a research note on Tuesday, April 9th. Finally, Roth Mkm reaffirmed a neutral rating and set a $13.00 target price (down previously from $35.00) on shares of Perion Network in a research note on Tuesday, April 9th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $25.80.

Perion Network Stock Down 0.5 %

Shares of NASDAQ:PERI opened at $12.65 on Monday. The firm has a market cap of $607.09 million, a P/E ratio of 5.41, a P/E/G ratio of 0.40 and a beta of 1.37. Perion Network has a 12-month low of $10.77 and a 12-month high of $36.86. The business has a fifty day simple moving average of $17.65 and a 200 day simple moving average of $24.29.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings data on Wednesday, February 7th. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The company had revenue of $234.23 million during the quarter, compared to the consensus estimate of $233.09 million. Perion Network had a return on equity of 23.06% and a net margin of 15.80%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company earned $0.84 earnings per share. As a group, equities research analysts expect that Perion Network will post 1.45 EPS for the current year.

Institutional Investors Weigh In On Perion Network

Several hedge funds and other institutional investors have recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. grew its position in Perion Network by 18.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,943,795 shares of the technology company’s stock valued at $88,657,000 after purchasing an additional 624,441 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of Perion Network by 14.2% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,651,441 shares of the technology company’s stock valued at $81,199,000 after purchasing an additional 330,000 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Perion Network by 12.8% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,299,039 shares of the technology company’s stock worth $70,971,000 after buying an additional 260,000 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Perion Network by 1.9% during the third quarter. Vanguard Group Inc. now owns 1,435,197 shares of the technology company’s stock worth $43,960,000 after acquiring an additional 26,181 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of Perion Network by 8.5% in the 4th quarter. Victory Capital Management Inc. now owns 1,188,634 shares of the technology company’s stock worth $36,693,000 after buying an additional 92,665 shares during the last quarter. 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.