StockNews.com Upgrades Perion Network (NASDAQ:PERI) to “Hold”

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

PERI has been the topic of a number of other reports. Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a report on Thursday, February 20th. Lake Street Capital reaffirmed a “buy” rating and set a $10.50 target price (down from $11.00) on shares of Perion Network in a report on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.25.

Perion Network Stock Up 0.9 %

PERI stock opened at $8.14 on Thursday. The stock has a market capitalization of $364.88 million, a PE ratio of 31.31, a price-to-earnings-growth ratio of 0.76 and a beta of 1.53. Perion Network has a 52 week low of $7.47 and a 52 week high of $22.69. The firm has a 50 day moving average of $8.76 and a 200 day moving average of $8.52.

Perion Network (NASDAQ:PERI) last posted its quarterly earnings data 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 return on equity of 5.55% and a net margin of 2.53%. The company had revenue of $129.58 million for the quarter, compared to analyst estimates of $130.44 million. On average, equities research analysts expect that Perion Network will post 0.51 earnings per share for the current year.

Hedge Funds Weigh In On Perion Network

Hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. purchased a new position in Perion Network during the fourth quarter valued at $41,000. SBI Securities Co. Ltd. purchased a new position in Perion Network in the 4th quarter valued at about $45,000. Perritt Capital Management Inc purchased a new position in Perion Network in the 4th quarter valued at about $127,000. Point72 Asset Management L.P. acquired a new stake in Perion Network in the 3rd quarter worth about $134,000. Finally, XTX Topco Ltd purchased a new stake in Perion Network during the 3rd quarter worth approximately $150,000. Hedge funds and other 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.