Shares of Perion Network Ltd. (NASDAQ:PERI - Get Free Report) have received an average recommendation of "Hold" from the six brokerages that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $25.80.
Several equities research analysts have commented on PERI shares. Lake Street Capital restated a "hold" rating and issued a $16.00 price target on shares of Perion Network in a research note on Monday, April 8th. Roth Capital downgraded Perion Network from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 9th. Needham & Company LLC decreased their price target on Perion Network from $35.00 to $18.00 and set a "buy" rating for the company in a research note on Monday, April 8th. Roth Mkm reiterated a "neutral" rating and set a $13.00 price objective (down previously from $35.00) on shares of Perion Network in a research note on Tuesday, April 9th. Finally, StockNews.com downgraded Perion Network from a "buy" rating to a "hold" rating in a research report on Thursday, February 8th.
Read Our Latest Report on Perion Network
Institutional Trading of Perion Network
Several institutional investors and hedge funds have recently added to or reduced their stakes in PERI. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Perion Network by 46.6% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,972,744 shares of the technology company's stock valued at $91,055,000 after purchasing an additional 945,194 shares during the last quarter. Meitav Investment House Ltd. boosted its position in shares of Perion Network by 62.7% in the 3rd quarter. Meitav Investment House Ltd. now owns 998,854 shares of the technology company's stock valued at $30,644,000 after purchasing an additional 385,010 shares during the period. Clal Insurance Enterprises Holdings Ltd increased its stake in Perion Network by 14.2% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,651,441 shares of the technology company's stock worth $81,199,000 after purchasing an additional 330,000 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Perion Network by 12.8% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,299,039 shares of the technology company's stock worth $70,971,000 after buying an additional 260,000 shares during the period. Finally, Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD purchased a new stake in Perion Network during the third quarter valued at about $5,771,000. 68.12% of the stock is owned by institutional investors and hedge funds.
Perion Network Stock Performance
Shares of Perion Network stock traded up $0.02 on Friday, reaching $12.86. 638,218 shares of the company were exchanged, compared to its average volume of 851,044. Perion Network has a 1-year low of $10.77 and a 1-year high of $36.86. The firm has a market cap of $617.16 million, a price-to-earnings ratio of 5.43, a P/E/G ratio of 0.40 and a beta of 1.37. The company's 50-day moving average is $18.46 and its two-hundred day moving average is $24.69.
Perion Network (NASDAQ:PERI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.11. Perion Network had a net margin of 15.80% and a return on equity of 23.06%. The company had revenue of $234.23 million during the quarter, compared to the consensus estimate of $233.09 million. During the same quarter in the previous year, the company posted $0.84 earnings per share. The company's revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Perion Network will post 1.45 earnings per share for the current year.
Perion Network Company Profile
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Get Free ReportPerion 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.
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