Perion Network (NASDAQ:PERI) Shares Gap Up to $12.71

Perion Network Ltd. (NASDAQ:PERI - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $12.71, but opened at $13.35. Perion Network shares last traded at $12.49, with a volume of 508,484 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Roth Mkm restated a "neutral" rating and issued a $13.00 price target (down from $35.00) on shares of Perion Network in a report on Tuesday, April 9th. Roth Capital cut shares of Perion Network from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 9th. Needham & Company LLC cut their price objective on shares of Perion Network from $35.00 to $18.00 and set a "buy" rating for the company in a research note on Monday, April 8th. StockNews.com raised shares of Perion Network from a "hold" rating to a "buy" rating in a research report on Monday. Finally, Lake Street Capital restated a "hold" rating and set a $16.00 price objective on shares of Perion Network in a research note on Monday, April 8th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Perion Network has a consensus rating of "Hold" and an average target price of $25.80.

Perion Network Stock Down 0.5 %

The firm has a market cap of $607.09 million, a PE ratio of 5.41, a P/E/G ratio of 0.40 and a beta of 1.37. The firm's fifty day simple moving average is $17.85 and its two-hundred day simple moving average is $24.37.

Perion Network (NASDAQ:PERI - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $234.23 million for the quarter, compared to analysts' expectations of $233.09 million. During the same quarter last year, the business 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, analysts anticipate that Perion Network Ltd. will post 1.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Perion Network

Several large investors have recently bought and sold shares of the business. Naples Money Management LLC bought a new position in Perion Network during the fourth quarter valued at $29,000. Principal Securities Inc. purchased a new position in Perion Network in the fourth quarter valued at about $49,000. Blue Trust Inc. raised its holdings in Perion Network by 42.3% in the fourth quarter. Blue Trust Inc. now owns 1,658 shares of the technology company's stock worth $51,000 after purchasing an additional 493 shares in the last quarter. AllSquare Wealth Management LLC boosted its holdings in shares of Perion Network by 154.5% in the 3rd quarter. AllSquare Wealth Management LLC now owns 5,600 shares of the technology company's stock valued at $172,000 after buying an additional 3,400 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Perion Network by 16.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,105 shares of the technology company's stock worth $188,000 after buying an additional 847 shares during the last quarter. Institutional investors own 68.12% of the company's stock.

Perion Network Company Profile

Perion 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.