Perion Network's (PERI) Hold Rating Reaffirmed at Needham & Company LLC

Perion Network (NASDAQ:PERI - Get Free Report)'s stock had its "hold" rating reiterated by equities researchers at Needham & Company LLC in a report issued on Thursday,Benzinga reports.

A number of other brokerages have also recently commented on PERI. Lake Street Capital reaffirmed a "buy" rating and set a $10.50 price target (down previously from $11.00) on shares of Perion Network in a research report on Wednesday, February 19th. StockNews.com cut Perion Network from a "hold" rating to a "sell" rating in a research note on Friday, April 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Perion Network presently has an average rating of "Hold" and an average price target of $12.00.

Perion Network Trading Down 2.7 %

NASDAQ:PERI traded down $0.24 during trading hours on Thursday, hitting $8.74. 263,983 shares of the company were exchanged, compared to its average volume of 490,305. The company has a fifty day simple moving average of $8.34 and a 200 day simple moving average of $8.53. Perion Network has a one year low of $7.00 and a one year high of $13.49. The stock has a market capitalization of $391.77 million, a price-to-earnings ratio of 33.72, a price-to-earnings-growth ratio of 0.76 and a beta of 1.35.

Perion Network (NASDAQ:PERI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.15). The company had revenue of $129.58 million during the quarter, compared to analyst estimates of $130.44 million. Perion Network had a return on equity of 5.55% and a net margin of 2.53%. Equities research analysts predict that Perion Network will post 0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PERI. Tidal Investments LLC lifted its holdings in shares of Perion Network by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 50,338 shares of the technology company's stock worth $397,000 after purchasing an additional 2,225 shares in the last quarter. Perkins Capital Management Inc. raised its holdings in Perion Network by 4.2% during the fourth quarter. Perkins Capital Management Inc. now owns 55,450 shares of the technology company's stock worth $470,000 after buying an additional 2,240 shares during the last quarter. Two Sigma Advisers LP lifted its stake in shares of Perion Network by 2.2% in the fourth quarter. Two Sigma Advisers LP now owns 116,600 shares of the technology company's stock valued at $988,000 after buying an additional 2,500 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of Perion Network by 8.5% during the fourth quarter. Orion Portfolio Solutions LLC now owns 34,707 shares of the technology company's stock valued at $294,000 after buying an additional 2,711 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in shares of Perion Network during the fourth quarter worth about $41,000. Institutional investors own 68.12% of the company's stock.

About Perion Network

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.