Perion Network Ltd. (NASDAQ:PERI) Receives $25.80 Average Price Target from Brokerages

Shares of Perion Network Ltd. (NASDAQ:PERI) have earned a consensus recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $25.80.

Several equities research analysts have recently weighed in on the stock. Roth Capital downgraded shares of Perion Network from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 9th. Roth Mkm reiterated a “neutral” rating and issued a $13.00 target price (down from $35.00) on shares of Perion Network in a research note on Tuesday, April 9th. Lake Street Capital restated a “hold” rating and set a $16.00 price target on shares of Perion Network in a research note on Monday, April 8th. StockNews.com lowered shares of Perion Network from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Finally, Needham & Company LLC cut their price objective on shares of Perion Network from $35.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, April 8th.

Institutional Investors Weigh In On Perion Network

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its position in shares of Perion Network by 12.0% in the third quarter. Bank of New York Mellon Corp now owns 7,353 shares of the technology company’s stock valued at $225,000 after purchasing an additional 786 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Perion Network by 4.1% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,039,039 shares of the technology company’s stock valued at $62,456,000 after acquiring an additional 80,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Perion Network by 17.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,945 shares of the technology company’s stock valued at $397,000 after acquiring an additional 1,893 shares during the last quarter. Inspire Investing LLC purchased a new stake in Perion Network during the 3rd quarter worth about $632,000. Finally, Meitav Investment House Ltd. raised its stake in Perion Network by 62.7% in the 3rd quarter. Meitav Investment House Ltd. now owns 998,854 shares of the technology company’s stock valued at $30,644,000 after purchasing an additional 385,010 shares during the last quarter. 68.12% of the stock is currently owned by hedge funds and other institutional investors.

Perion Network Stock Performance

Shares of NASDAQ PERI opened at $12.86 on Friday. The stock’s 50-day simple moving average is $18.26 and its 200-day simple moving average is $24.56. The firm has a market capitalization of $617.15 million, a PE ratio of 5.50, a price-to-earnings-growth ratio of 0.40 and a beta of 1.37. Perion Network has a fifty-two week low of $10.77 and a fifty-two week high of $36.86.

Perion Network (NASDAQ:PERI) last released its quarterly earnings data on Wednesday, February 7th. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 15.80% and a return on equity of 23.06%. Perion Network’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 earnings per share. On average, sell-side analysts forecast that Perion Network will post 1.45 earnings per share for the current fiscal year.

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.