Perion Network (NASDAQ:PERI - Get Free Report) was downgraded by analysts at Roth Capital from a "buy" rating to a "neutral" rating in a research report issued on Tuesday, Zacks.com reports.
PERI has been the topic of a number of other reports. StockNews.com cut Perion Network from a "buy" rating to a "hold" rating in a report on Thursday, February 8th. Needham & Company LLC decreased their target price on Perion Network from $35.00 to $18.00 and set a "buy" rating on the stock in a report on Monday. Roth Mkm restated a "neutral" rating and issued a $13.00 target price (down from $35.00) on shares of Perion Network in a report on Tuesday. Finally, Lake Street Capital restated a "hold" rating and issued a $16.00 target price on shares of Perion Network in a report on Monday. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Perion Network has a consensus rating of "Hold" and a consensus price target of $25.80.
Read Our Latest Stock Report on Perion Network
Perion Network Price Performance
Shares of NASDAQ PERI traded down $0.08 during mid-day trading on Tuesday, hitting $13.10. The company had a trading volume of 1,991,575 shares, compared to its average volume of 802,017. The firm's 50 day simple moving average is $22.90 and its two-hundred day simple moving average is $26.71. The stock has a market cap of $604.83 million, a price-to-earnings ratio of 5.42, a PEG ratio of 0.19 and a beta of 1.24. Perion Network has a 12 month low of $12.10 and a 12 month high of $42.75.
Perion Network (NASDAQ:PERI - Get Free Report) last announced its earnings results 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 firm had revenue of $234.23 million for the quarter, compared to the consensus estimate of $233.09 million. Perion Network had a return on equity of 23.06% and a net margin of 15.80%. The firm's revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. Equities analysts forecast that Perion Network will post 3.04 earnings per share for the current year.
Institutional Trading of Perion Network
A number of institutional investors and hedge funds have recently made changes to their positions in PERI. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Perion Network by 46.6% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,972,744 shares of the technology company's stock worth $91,055,000 after buying an additional 945,194 shares during the last quarter. Meitav Investment House Ltd. lifted its position in shares of Perion Network by 62.7% in the third quarter. Meitav Investment House Ltd. now owns 998,854 shares of the technology company's stock worth $30,644,000 after buying an additional 385,010 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Perion Network by 718.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 425,102 shares of the technology company's stock worth $16,780,000 after buying an additional 373,145 shares during the last quarter. Millennium Management LLC lifted its position in shares of Perion Network by 1,472.8% during the 4th quarter. Millennium Management LLC now owns 367,338 shares of the technology company's stock worth $9,294,000 after purchasing an additional 343,982 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Perion Network by 14.2% during 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 during the last quarter. Institutional investors and hedge funds own 68.12% of the company's stock.
About Perion Network
(
Get Free Report)
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.
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