Perion Network (NASDAQ:PERI) Rating Lowered to Sell at StockNews.com

Perion Network (NASDAQ:PERI) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.

PERI has been the subject of several other reports. Needham & Company LLC reissued a “hold” rating on shares of Perion Network in a research note on Thursday, February 20th. Lake Street Capital reaffirmed a “buy” rating and issued a $10.50 target price (down from $11.00) on shares of Perion Network in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $12.25.

Perion Network Price Performance

PERI stock opened at $7.36 on Friday. The stock has a market capitalization of $329.91 million, a P/E ratio of 28.31, a P/E/G ratio of 0.76 and a beta of 1.53. Perion Network has a fifty-two week low of $7.34 and a fifty-two week high of $13.98. The business has a 50-day moving average of $8.66 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The business had revenue of $129.58 million during the quarter, compared to analyst estimates of $130.44 million. Perion Network had a net margin of 2.53% and a return on equity of 5.55%. Equities analysts expect that Perion Network will post 0.51 EPS for the current year.

Institutional Investors Weigh In On Perion Network

Several institutional investors and hedge funds have recently bought and sold shares of PERI. Captrust Financial Advisors boosted its position in shares of Perion Network by 55.4% during the 3rd quarter. Captrust Financial Advisors now owns 103,765 shares of the technology company’s stock worth $818,000 after acquiring an additional 37,005 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Perion Network during the 3rd quarter worth $134,000. XTX Topco Ltd acquired a new stake in Perion Network in the third quarter valued at about $150,000. Public Employees Retirement System of Ohio bought a new position in Perion Network in the third quarter valued at about $658,000. Finally, Geode Capital Management LLC raised its stake in Perion Network by 67.8% during the third quarter. Geode Capital Management LLC now owns 57,975 shares of the technology company’s stock worth $457,000 after acquiring an additional 23,423 shares in the last quarter. 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.