Analysts Set Perion Network Ltd. (NASDAQ:PERI) Target Price at $12.25

Perion Network Ltd. (NASDAQ:PERI) has received a consensus rating of “Hold” from the six brokerages that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $12.25.

A number of brokerages recently weighed in on PERI. StockNews.com downgraded shares of Perion Network from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a report on Thursday, February 20th. Finally, Lake Street Capital reissued a “buy” rating and issued a $10.50 target price (down previously from $11.00) on shares of Perion Network in a research note on Wednesday, February 19th.

Perion Network Price Performance

PERI opened at $8.07 on Monday. Perion Network has a one year low of $7.47 and a one year high of $22.69. The firm has a market capitalization of $361.74 million, a P/E ratio of 31.04, a price-to-earnings-growth ratio of 0.76 and a beta of 1.53. The company has a fifty day moving average price of $8.78 and a 200-day moving average price of $8.52.

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 return on equity of 5.55% and a net margin of 2.53%. The business had revenue of $129.58 million during the quarter, compared to the consensus estimate of $130.44 million. On average, analysts expect that Perion Network will post 0.51 earnings per share for the current year.

Hedge Funds Weigh In On Perion Network

Large investors have recently added to or reduced their stakes in the business. Sphera Management Technology Funds Ltd purchased a new stake in Perion Network during the fourth quarter valued at about $995,000. Two Sigma Advisers LP boosted its holdings in Perion Network by 2.2% during the 4th quarter. Two Sigma Advisers LP now owns 116,600 shares of the technology company’s stock valued at $988,000 after acquiring an additional 2,500 shares during the period. Two Sigma Investments LP grew its position in Perion Network by 5.0% during the 4th quarter. Two Sigma Investments LP now owns 200,862 shares of the technology company’s stock worth $1,701,000 after acquiring an additional 9,592 shares during the last quarter. State of Wyoming increased its stake in Perion Network by 217.2% in the 4th quarter. State of Wyoming now owns 19,676 shares of the technology company’s stock worth $167,000 after purchasing an additional 13,472 shares during the period. Finally, Systematic Financial Management LP lifted its position in Perion Network by 38.3% in the fourth quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company’s stock valued at $5,489,000 after purchasing an additional 179,557 shares during the last quarter. Hedge funds and other institutional investors 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.