Analysts Set Perion Network Ltd. (NASDAQ:PERI) Price Target at $25.80

Perion Network Ltd. (NASDAQ:PERI) has been given an average rating of “Hold” by the six brokerages that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $25.80.

A number of research firms have recently commented on PERI. Roth Mkm reissued a “neutral” rating and issued a $13.00 target price (down from $35.00) on shares of Perion Network in a research note on Tuesday, April 9th. Needham & Company LLC reduced their price objective on shares of Perion Network from $35.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, April 8th. Lake Street Capital reiterated a “hold” rating and issued a $16.00 target price on shares of Perion Network in a research note on Monday, April 8th. Roth Capital lowered shares of Perion Network from a “buy” rating to a “neutral” rating in a report on Tuesday, April 9th. Finally, StockNews.com upgraded Perion Network from a “hold” rating to a “buy” rating in a research note on Monday.

Institutional Investors Weigh In On Perion Network

A number of large investors have recently made changes to their positions in PERI. Naples Money Management LLC purchased a new position in Perion Network during the fourth quarter valued at approximately $29,000. Principal Securities Inc. purchased a new stake in shares of Perion Network in the fourth quarter worth $49,000. Blue Trust Inc. raised its position in shares of Perion Network by 42.3% during the 4th quarter. Blue Trust Inc. now owns 1,658 shares of the technology company’s stock valued at $51,000 after purchasing an additional 493 shares during the period. AllSquare Wealth Management LLC lifted its stake in shares of Perion Network by 154.5% during the 3rd quarter. AllSquare Wealth Management LLC now owns 5,600 shares of the technology company’s stock valued at $172,000 after buying an additional 3,400 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Perion Network by 16.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,105 shares of the technology company’s stock worth $188,000 after buying an additional 847 shares during the period. 68.12% of the stock is currently owned by institutional investors.

Perion Network Stock Performance

Shares of PERI opened at $12.71 on Friday. Perion Network has a fifty-two week low of $10.77 and a fifty-two week high of $36.86. The firm’s 50-day simple moving average is $17.85 and its two-hundred day simple moving average is $24.37. The stock has a market cap of $609.95 million, a PE ratio of 5.43, a price-to-earnings-growth ratio of 0.40 and a beta of 1.37.

Perion Network (NASDAQ:PERI) last posted its quarterly earnings results on Wednesday, February 7th. The technology company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.11. Perion Network had a return on equity of 23.06% and a net margin of 15.80%. The company had revenue of $234.23 million for the quarter, compared to the consensus estimate of $233.09 million. During the same quarter in the prior year, the business posted $0.84 EPS. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities research analysts predict that Perion Network will post 1.45 EPS for the current year.

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.