Perion Network Ltd. (NASDAQ:PERI) Receives $12.25 Consensus PT from Analysts

Perion Network Ltd. (NASDAQ:PERI) has been assigned a consensus rating of “Hold” from the six brokerages that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $12.25.

PERI has been the topic of several research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a report on Thursday, February 20th. StockNews.com downgraded shares of Perion Network from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Finally, Lake Street Capital reiterated 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.

Perion Network Stock Performance

Shares of PERI stock opened at $7.97 on Thursday. The stock has a market cap of $357.26 million, a price-to-earnings ratio of 30.66, a P/E/G ratio of 0.76 and a beta of 1.48. Perion Network has a 52-week low of $7.47 and a 52-week high of $23.49. The firm has a fifty day moving average of $8.89 and a 200-day moving average of $8.56.

Perion Network (NASDAQ:PERI) last issued 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 company had revenue of $129.58 million for the quarter, compared to the consensus estimate of $130.44 million. Perion Network had a net margin of 2.53% and a return on equity of 5.55%. On average, sell-side analysts predict that Perion Network will post 0.51 earnings per share for the current year.

Hedge Funds Weigh In On Perion Network

Several hedge funds have recently made changes to their positions in PERI. Russell Investments Group Ltd. acquired a new position in shares of Perion Network during the 4th quarter worth approximately $41,000. SBI Securities Co. Ltd. bought a new stake in Perion Network in the 4th quarter valued at about $45,000. Perritt Capital Management Inc acquired a new stake in Perion Network during the fourth quarter worth approximately $127,000. Point72 Asset Management L.P. acquired a new stake in shares of Perion Network during the 3rd quarter worth $134,000. Finally, XTX Topco Ltd bought a new position in Perion Network in the 3rd quarter valued at about $150,000. 68.12% of the stock is owned by institutional investors.

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.