Victory Capital Management Inc. boosted its stake in shares of Perion Network Ltd. (NASDAQ:PERI - Free Report) by 8.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,188,634 shares of the technology company's stock after purchasing an additional 92,665 shares during the period. Victory Capital Management Inc. owned about 2.57% of Perion Network worth $36,693,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of PERI. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Perion Network by 11.7% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,319,354 shares of the technology company's stock valued at $102,468,000 after acquiring an additional 346,610 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Perion Network by 14.2% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,651,441 shares of the technology company's stock valued at $81,199,000 after acquiring an additional 330,000 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Perion Network by 12.8% in the fourth 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 in the last quarter. Vanguard Group Inc. lifted its position in shares of Perion Network by 1.9% in the third quarter. Vanguard Group Inc. now owns 1,435,197 shares of the technology company's stock worth $43,960,000 after buying an additional 26,181 shares in the last quarter. Finally, Meitav Investment House Ltd. lifted its position in shares of Perion Network by 6.1% in the fourth quarter. Meitav Investment House Ltd. now owns 1,059,894 shares of the technology company's stock worth $32,684,000 after buying an additional 61,040 shares in the last quarter. 68.12% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
PERI has been the topic of a number of research analyst reports. 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 research report on Monday, April 8th. Roth Capital downgraded Perion Network from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 9th. Roth Mkm reiterated a "neutral" rating and issued a $13.00 target price (down from $35.00) on shares of Perion Network in a research report on Tuesday, April 9th. Lake Street Capital reiterated a "hold" rating and issued a $16.00 target price on shares of Perion Network in a research report on Monday, April 8th. Finally, StockNews.com raised Perion Network from a "hold" rating to a "buy" rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $25.80.
Get Our Latest Stock Analysis on PERI
Perion Network Price Performance
Shares of PERI traded down $0.15 during mid-day trading on Tuesday, reaching $12.71. 642,035 shares of the company's stock traded hands, compared to its average volume of 845,039. The stock has a market cap of $609.95 million, a P/E ratio of 5.50, a P/E/G ratio of 0.40 and a beta of 1.37. The stock's 50-day moving average is $18.07 and its two-hundred day moving average is $24.46. Perion Network Ltd. has a 12 month low of $10.77 and a 12 month high of $36.86.
Perion Network (NASDAQ:PERI - Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.93 by $0.11. The company 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%. Perion Network's quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the business posted $0.84 EPS. Research analysts predict that Perion Network Ltd. will post 1.45 earnings per share for the current year.
Perion Network Company Profile
(
Free Report)
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.
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