Perion Network (NASDAQ:PERI) Shares Gap Up to $12.71

Perion Network Ltd. (NASDAQ:PERI)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $12.71, but opened at $13.35. Perion Network shares last traded at $12.49, with a volume of 508,484 shares changing hands.

Wall Street Analyst Weigh In

PERI has been the subject of several research analyst reports. Lake Street Capital reiterated a “hold” rating and issued a $16.00 price objective on shares of Perion Network in a report on Monday, April 8th. StockNews.com raised shares of Perion Network from a “hold” rating to a “buy” rating in a research report on Monday. Roth Capital cut shares of Perion Network from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 9th. Needham & Company LLC cut their target price on shares of Perion Network from $35.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. Finally, Roth Mkm reissued a “neutral” rating and issued a $13.00 price target (down from $35.00) on shares of Perion Network in a research note on Tuesday, April 9th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $25.80.

Perion Network Stock Down 0.7 %

The company’s 50 day moving average price is $17.85 and its two-hundred day moving average price is $24.37. The firm has a market cap of $605.63 million, a PE ratio of 5.43, a P/E/G ratio of 0.40 and a beta of 1.37.

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

Institutional Trading of Perion Network

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Naples Money Management LLC acquired a new position in Perion Network in the fourth quarter valued at approximately $29,000. Principal Securities Inc. purchased a new stake in shares of Perion Network in the fourth quarter valued at about $49,000. Blue Trust Inc. grew its stake in shares of Perion Network by 42.3% in 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 last quarter. AllSquare Wealth Management LLC raised its position in Perion Network by 154.5% during the 3rd quarter. AllSquare Wealth Management LLC now owns 5,600 shares of the technology company’s stock worth $172,000 after buying an additional 3,400 shares during 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 valued at $188,000 after purchasing an additional 847 shares in 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.