Perion Network (NASDAQ:PERI) Downgraded by StockNews.com to “Sell”

Perion Network (NASDAQ:PERI) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

A number of other equities analysts also recently commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a report on Thursday. Lake Street Capital reaffirmed a “buy” rating and issued a $10.50 price objective (down previously from $11.00) on shares of Perion Network in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $12.25.

Perion Network Stock Performance

NASDAQ PERI opened at $8.52 on Thursday. The company has a market cap of $381.95 million, a PE ratio of 32.77, a P/E/G ratio of 0.76 and a beta of 1.48. The firm’s 50 day moving average price is $8.88 and its 200-day moving average price is $8.55. Perion Network has a 52-week low of $7.47 and a 52-week high of $23.74.

Perion Network (NASDAQ:PERI) last posted 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 5.54% and a net margin of 2.53%. The company had revenue of $129.58 million for the quarter, compared to analysts’ expectations of $130.44 million. On average, analysts forecast that Perion Network will post 0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Perion Network

A number of large investors have recently modified their holdings of PERI. Private Capital Management LLC grew its position in Perion Network by 33.4% during the 3rd quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company’s stock worth $18,816,000 after purchasing an additional 598,228 shares during the last quarter. Clearline Capital LP acquired a new stake in shares of Perion Network during the third quarter worth $2,221,000. Systematic Financial Management LP grew its holdings in shares of Perion Network by 38.3% during the fourth quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company’s stock valued at $5,489,000 after buying an additional 179,557 shares during the last quarter. Sphera Management Technology Funds Ltd acquired a new position in shares of Perion Network in the 4th quarter valued at $995,000. Finally, JPMorgan Chase & Co. raised its stake in Perion Network by 39.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company’s stock worth $2,984,000 after acquiring an additional 107,278 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.