Perion Network (NASDAQ:PERI) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Perion Network (NASDAQ:PERI) in a report issued on Thursday morning,Benzinga reports.

A number of other research firms have also recently weighed in on PERI. Lake Street Capital raised shares of Perion Network from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Wednesday, July 31st. Stifel Nicolaus decreased their target price on Perion Network from $9.00 to $7.50 and set a “hold” rating for the company in a report on Monday, October 14th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $12.13.

Perion Network Trading Down 1.6 %

Shares of PERI stock traded down $0.14 during trading hours on Thursday, reaching $8.89. 361,036 shares of the company’s stock were exchanged, compared to its average volume of 673,321. The stock has a market cap of $420.59 million, a PE ratio of 5.76, a PEG ratio of 0.42 and a beta of 1.47. The stock’s fifty day moving average price is $8.12 and its two-hundred day moving average price is $9.28. Perion Network has a 1 year low of $7.47 and a 1 year high of $32.99.

Perion Network (NASDAQ:PERI) last announced its earnings results on Wednesday, November 6th. The technology company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. The firm had revenue of $102.20 million for the quarter, compared to analyst estimates of $99.93 million. Perion Network had a return on equity of 15.65% and a net margin of 11.34%. On average, equities analysts expect that Perion Network will post 0.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Perion Network

Several institutional investors have recently bought and sold shares of the company. Pitcairn Co. raised its position in Perion Network by 9.0% in the first quarter. Pitcairn Co. now owns 12,406 shares of the technology company’s stock worth $279,000 after acquiring an additional 1,027 shares in the last quarter. Van ECK Associates Corp increased its position in Perion Network by 9.7% during the second quarter. Van ECK Associates Corp now owns 16,540 shares of the technology company’s stock worth $138,000 after buying an additional 1,468 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Perion Network by 17.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,244 shares of the technology company’s stock valued at $128,000 after acquiring an additional 2,299 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in Perion Network by 29.7% in the 1st quarter. Atomi Financial Group Inc. now owns 12,640 shares of the technology company’s stock valued at $284,000 after purchasing an additional 2,896 shares in the last quarter. Finally, Sei Investments Co. grew its stake in Perion Network by 9.4% in the 2nd quarter. Sei Investments Co. now owns 59,343 shares of the technology company’s stock worth $496,000 after acquiring an additional 5,078 shares during the period. 68.12% of the stock is owned by institutional investors and hedge funds.

About Perion Network

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.