Perion Network (NASDAQ:PERI) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Perion Network from “hold” to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $13.88.
• Perion Network opened at $8.55, with a market capitalization of approximately $333.7 million; its shares remain below both the 50-day and 200-day moving averages.
• The company exceeded quarterly expectations, reporting $0.09 in earnings per share versus a $0.08 consensus estimate and revenue of $98.24 million versus the $96.72 million forecast.

Perion Network (NASDAQ:PERI - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Monday, Zacks reports.

Separately, Weiss Ratings lowered shares of Perion Network from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $13.88.

Perion Network Trading Up 0.5%

Perion Network stock opened at $8.55 on Monday. The firm has a market capitalization of $333.66 million, a P/E ratio of -24.43, a PEG ratio of 1.00 and a beta of 1.13. The business has a 50-day moving average of $9.26 and a 200-day moving average of $9.42. Perion Network has a 1 year low of $7.63 and a 1 year high of $11.27.

Perion Network (NASDAQ:PERI - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The technology company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. Perion Network had a negative net margin of 2.95% and a positive return on equity of 2.43%. The business had revenue of $98.24 million for the quarter, compared to analyst estimates of $96.72 million. Research analysts anticipate that Perion Network will post 0.45 EPS for the current fiscal year.

Insider Buying and Selling at Perion Network

In other news, Director Eyal Kaplan sold 2,916 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $8.72, for a total transaction of $25,427.52. Following the completion of the sale, the director owned 51,226 shares of the company's stock, valued at $446,690.72. This represents a 5.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 6,767 shares of company stock valued at $58,970 in the last ninety days. 2.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Perion Network

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC acquired a new stake in Perion Network in the first quarter valued at $1,568,000. Sei Investments Co. increased its stake in shares of Perion Network by 100.2% during the 1st quarter. Sei Investments Co. now owns 166,538 shares of the technology company's stock worth $1,664,000 after purchasing an additional 83,359 shares during the last quarter. North Star Investment Management Corp. bought a new stake in shares of Perion Network in the 1st quarter valued at about $649,000. Headlands Technologies LLC grew its holdings in Perion Network by 282.5% during the second quarter. Headlands Technologies LLC now owns 39,577 shares of the technology company's stock worth $384,000 after purchasing an additional 29,231 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in Perion Network during the second quarter worth approximately $532,000. 68.12% of the stock is owned by institutional investors.

Perion Network Company Profile

Perion Network Ltd. is a global advertising technology company that develops and operates digital advertising solutions for brands, agencies, publishers and retailers. Its technology supports campaign planning, audience targeting, media buying, creative delivery and performance measurement across multiple digital channels, including search, social, display, video, connected television and retail media.

The company's businesses have included Undertone, which provides digital advertising and creative solutions; Hivestack, a platform for programmatic digital out-of-home advertising; and other technology and media offerings designed to help advertisers reach audiences and help publishers monetize their content.

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