Perion Network Ltd (NASDAQ:PERI) Stock Has Average Price Target of $13.83

Key Points

• Analysts give Perion Network a “Moderate Buy” consensus, with three buy ratings, one strong-buy, one hold and one sell. The average 12-month price target is $13.83, compared with the reported share price of $8.75.
• Perion’s latest quarterly results exceeded expectations: the company reported EPS of $0.09 versus a $0.08 estimate and revenue of $98.24 million versus the $96.72 million consensus forecast.
• Institutional investors own 68.12% of Perion’s shares, while insiders own 2.78%; several institutions recently increased or initiated positions, although insiders sold shares largely to cover tax obligations related to equity awards.

Shares of Perion Network Ltd (NASDAQ:PERI - Get Free Report) have been given an average rating of "Moderate Buy" by the six analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $13.83.

Several equities research analysts recently commented on PERI shares. 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 downgraded shares of Perion Network from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, September 25th.

Perion Network Stock Performance

PERI opened at $8.75 on Friday. Perion Network has a one year low of $7.63 and a one year high of $11.27. The stock's fifty day moving average is $9.06 and its 200-day moving average is $9.33. The company has a market capitalization of $341.51 million, a PE ratio of -25.00, a P/E/G ratio of 1.02 and a beta of 1.13.

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

Insider Buying and Selling

In other Perion Network news, Director Eyal Kaplan sold 2,916 shares of Perion Network stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $8.72, for a total transaction of $25,427.52. Following the transaction, the director owned 51,226 shares of the company's stock, valued at $446,690.72. The trade was a 5.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 6,767 shares of company stock worth $58,970. Company insiders own 2.78% of the company's stock.

Institutional Trading of Perion Network

A number of institutional investors have recently bought and sold shares of PERI. Lazard Asset Management LLC bought a new stake in shares of Perion Network in the 1st quarter valued at approximately $1,568,000. Sei Investments Co. raised its holdings in Perion Network by 100.2% in the 1st quarter. Sei Investments Co. now owns 166,538 shares of the technology company's stock worth $1,664,000 after acquiring an additional 83,359 shares during the period. North Star Investment Management Corp. acquired a new position in shares of Perion Network during the 1st quarter worth about $649,000. SG Americas Securities LLC boosted its stake in Perion Network by 21.9% during the 1st quarter. SG Americas Securities LLC now owns 12,190 shares of the technology company's stock valued at $122,000 after purchasing an additional 2,186 shares during the period. Finally, Y.D. More Investments Ltd boosted its stake in Perion Network by 29.6% during the 1st quarter. Y.D. More Investments Ltd now owns 50,002 shares of the technology company's stock valued at $503,000 after purchasing an additional 11,435 shares during the period. Institutional investors and hedge funds own 68.12% of the company's stock.

Perion Network Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.