Perion Network’s (PERI) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Perion Network (NASDAQ:PERI) in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a $18.00 price target on the technology company’s stock.

Several other equities research analysts have also commented on the stock. StockNews.com upgraded shares of Perion Network from a hold rating to a buy rating in a research note on Monday, May 6th. Roth Capital lowered Perion Network from a buy rating to a neutral rating in a research report on Tuesday, April 9th. Lake Street Capital reissued a hold rating and set a $16.00 price target on shares of Perion Network in a report on Monday, April 8th. Finally, Roth Mkm reaffirmed a neutral rating and issued a $13.00 price objective (down previously from $35.00) on shares of Perion Network in a report on Tuesday, April 9th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Perion Network currently has a consensus rating of Hold and a consensus target price of $25.80.

Perion Network Price Performance

NASDAQ:PERI opened at $11.81 on Thursday. Perion Network has a 12-month low of $10.77 and a 12-month high of $36.86. The business has a 50 day simple moving average of $17.21 and a 200 day simple moving average of $24.10. The firm has a market capitalization of $566.76 million, a P/E ratio of 5.62, a P/E/G ratio of 0.37 and a beta of 1.37.

Perion Network (NASDAQ:PERI) last released its quarterly earnings results on Wednesday, February 7th. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.93 by $0.11. The business had revenue of $234.23 million during the quarter, compared to analyst estimates of $233.09 million. Perion Network had a net margin of 13.94% and a return on equity of 20.70%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 earnings per share. Research analysts anticipate that Perion Network will post 1.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Naples Money Management LLC acquired a new stake in Perion Network in the 4th quarter valued at about $29,000. Principal Securities Inc. bought a new stake in shares of Perion Network in the 4th quarter worth approximately $49,000. Blue Trust Inc. lifted its stake in Perion Network by 42.3% during the fourth 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 boosted its holdings in Perion Network by 154.5% during the third 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 in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Perion Network by 16.1% in the fourth 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 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.