Roth Mkm Reiterates Neutral Rating for Perion Network (NASDAQ:PERI)

Perion Network (NASDAQ:PERI - Get Free Report)'s stock had its "neutral" rating reiterated by equities research analysts at Roth Mkm in a research report issued on Tuesday, Marketbeat.com reports. They currently have a $13.00 price objective on the technology company's stock, down from their prior price objective of $35.00. Roth Mkm's target price would indicate a potential downside of 1.37% from the company's previous close.

PERI has been the subject of several other research reports. Lake Street Capital restated a "hold" rating and issued a $16.00 price objective on shares of Perion Network in a report on Monday. Needham & Company LLC reduced their price target on Perion Network from $35.00 to $18.00 and set a "buy" rating for the company in a report on Monday. Finally, StockNews.com cut Perion Network from a "buy" rating to a "hold" rating in a report on Thursday, February 8th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $25.80.

Perion Network Price Performance

Shares of PERI traded up $0.68 during midday trading on Tuesday, hitting $13.18. The stock had a trading volume of 5,737,101 shares, compared to its average volume of 785,089. The company has a 50 day simple moving average of $23.25 and a two-hundred day simple moving average of $26.83. Perion Network has a twelve month low of $12.10 and a twelve month high of $42.75. The firm has a market cap of $608.52 million, a price-to-earnings ratio of 5.63, a price-to-earnings-growth ratio of 0.32 and a beta of 1.24.

Perion Network (NASDAQ:PERI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The technology company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.11. The company had revenue of $234.23 million during the quarter, compared to analysts' expectations of $233.09 million. Perion Network had a return on equity of 23.06% and a net margin of 15.80%. Perion Network's revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 EPS. Analysts forecast that Perion Network will post 3.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Perion Network

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Allworth Financial LP raised its position in shares of Perion Network by 0.8% in the fourth quarter. Allworth Financial LP now owns 60,676 shares of the technology company's stock valued at $1,873,000 after buying an additional 464 shares in the last quarter. State Street Corp raised its position in shares of Perion Network by 1.8% in the third quarter. State Street Corp now owns 27,138 shares of the technology company's stock valued at $523,000 after buying an additional 480 shares in the last quarter. Blue Trust Inc. raised its position in shares of Perion Network by 42.3% in the fourth quarter. Blue Trust Inc. now owns 1,658 shares of the technology company's stock valued at $51,000 after buying an additional 493 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Perion Network by 8.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,300 shares of the technology company's stock valued at $159,000 after buying an additional 500 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of Perion Network by 13.2% in the fourth quarter. Royal Bank of Canada now owns 4,643 shares of the technology company's stock valued at $144,000 after buying an additional 541 shares in the last quarter. 68.12% of the stock is currently 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 provides 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.