Perion Network Ltd (PERI) – What Are Researchers Saying About This Stock?

Shares of Perion Network Ltd (NASDAQ:PERI) have received an average rating of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $13.83.

PERI has been the topic of several recent research reports. Zacks Research upgraded shares of Perion Network from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Weiss Ratings lowered shares of Perion Network from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 25th.

Insiders Place Their Bets

In other news, Director Eyal Kaplan sold 2,916 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $8.72, for a total value of $25,427.52. Following the sale, the director directly owned 51,226 shares in the company, valued at approximately $446,690.72. This represents a 5.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 6,767 shares of company stock worth $58,970 over the last 90 days. 2.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Perion Network

Hedge funds and other institutional investors have recently modified their holdings of the stock. Systematic Financial Management LP grew its position in Perion Network by 5.9% in the first quarter. Systematic Financial Management LP now owns 869,066 shares of the technology company’s stock valued at $8,689,000 after acquiring an additional 48,246 shares during the period. Sei Investments Co. lifted its holdings in shares of Perion Network by 100.2% during the first quarter. Sei Investments Co. now owns 166,538 shares of the technology company’s stock valued at $1,664,000 after acquiring an additional 83,359 shares during the period. Lazard Asset Management LLC bought a new position in shares of Perion Network during the first quarter valued at $1,568,000. Perkins Capital Management Inc. lifted its holdings in shares of Perion Network by 13.4% during the first quarter. Perkins Capital Management Inc. now owns 156,865 shares of the technology company’s stock valued at $1,567,000 after acquiring an additional 18,490 shares during the period. Finally, Equitable Trust Co. boosted its stake in shares of Perion Network by 35.6% in the 1st quarter. Equitable Trust Co. now owns 138,880 shares of the technology company’s stock valued at $1,387,000 after purchasing an additional 36,485 shares in the last quarter. Institutional investors own 68.12% of the company’s stock.

Perion Network Stock Up 0.8%

Shares of PERI stock opened at $8.67 on Friday. Perion Network has a one year low of $7.63 and a one year high of $11.27. The stock has a fifty day moving average price of $9.00 and a 200 day moving average price of $9.24.

Perion Network (NASDAQ:PERI) last posted its quarterly earnings results on Tuesday, August 11th. The technology company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $98.24 million for the quarter, compared to analyst estimates of $96.72 million. On average, research analysts forecast that Perion Network will post 0.45 EPS for the current fiscal year.

About Perion Network

Perion Network Ltd. (NASDAQ: PERI) is an Israel-based global advertising technology company that develops solutions for advertisers, publishers and commerce platforms. Its business is focused on helping clients plan, deliver, manage and measure digital advertising campaigns across search, social media, display, video, connected television and digital out-of-home channels.

The company operates through several technology and advertising platforms. These include Undertone, which provides digital media and creative advertising solutions; CodeFuel, which focuses on search monetization and website publishing tools; and Hivestack, a programmatic platform for digital out-of-home advertising.