Perion Network Ltd (NASDAQ:PERI) Stock Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Analysts rate Perion Network “Moderate Buy”: Four of six analysts recommend buying the stock, while one rates it a hold and one a sell. The average 12-month price target is $13.88.
• Perion’s latest quarterly results exceeded expectations, with adjusted EPS of $0.09 versus the $0.08 consensus estimate and revenue of $98.24 million compared with $96.72 million expected.
• Shares recently traded at $8.44, near the lower end of their 12-month range of $7.63 to $11.27. Institutional investors own 68.12% of the stock, while insiders sold 6,765 shares worth about $65,943 during the last quarter.

Shares of Perion Network Ltd (NASDAQ:PERI - Get Free Report) have earned an average rating of "Moderate Buy" from the six analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $13.88.

Separately, Weiss Ratings downgraded shares of Perion Network from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday.

Insiders Place Their Bets

In related news, Director Eyal Kaplan sold 2,916 shares of the company's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $9.77, for a total transaction of $28,489.32. Following the transaction, the director directly owned 54,142 shares of the company's stock, valued at $528,967.34. This represents a 5.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 6,765 shares of company stock worth $65,943. 2.78% of the stock is owned by insiders.

Institutional Investors Weigh In On Perion Network

A number of large investors have recently modified their holdings of the business. Lazard Asset Management LLC purchased a new position in Perion Network in the 1st quarter worth $1,568,000. Sei Investments Co. lifted its stake in shares of Perion Network by 100.2% in the 1st quarter. Sei Investments Co. now owns 166,538 shares of the technology company's stock valued at $1,664,000 after purchasing an additional 83,359 shares during the period. North Star Investment Management Corp. purchased a new stake in shares of Perion Network during the 1st quarter worth about $649,000. Public Employees Retirement System of Ohio acquired a new stake in Perion Network in the second quarter valued at approximately $532,000. Finally, Bank of America Corp DE increased its holdings in Perion Network by 101.3% in the 1st quarter. Bank of America Corp DE now owns 24,480 shares of the technology company's stock worth $245,000 after acquiring an additional 12,317 shares in the last quarter. Hedge funds and other institutional investors own 68.12% of the company's stock.

Perion Network Stock Performance

PERI traded down $0.15 on Monday, hitting $8.44. The company had a trading volume of 310,257 shares, compared to its average volume of 423,625. The stock has a market capitalization of $329.37 million, a price-to-earnings ratio of -24.11, a P/E/G ratio of 1.00 and a beta of 1.17. The stock has a fifty day moving average price of $9.38 and a 200-day moving average price of $9.42. Perion Network has a 12-month low of $7.63 and a 12-month high of $11.27.

Perion Network (NASDAQ:PERI - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The technology company reported $0.09 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $96.72 million. Analysts forecast that Perion Network will post 0.45 EPS for the current fiscal year.

About Perion Network

Perion Network Ltd. NASDAQ: PERI is a global digital advertising technology company headquartered in Israel. The company provides solutions that help advertisers, brands, agencies, publishers and commerce platforms reach audiences across digital channels, including connected television, online video, display, social media, retail media and search.

Perion's portfolio includes Undertone, which develops high-impact digital advertising campaigns; Hivestack, a programmatic platform for digital out-of-home advertising; and CodeFuel, which provides search monetization and related technology for publishers and developers.

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