Perion Network (NASDAQ:PERI) Earns "Hold" Rating from Needham & Company LLC

Perion Network (NASDAQ:PERI - Get Free Report)'s stock had its "hold" rating restated by equities research analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports.

A number of other equities research analysts have also issued reports on PERI. StockNews.com lowered shares of Perion Network from a "hold" rating to a "sell" rating in a report on Tuesday. Lake Street Capital reaffirmed a "buy" rating and set a $10.50 target price (down previously from $11.00) on shares of Perion Network in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Perion Network currently has an average rating of "Hold" and a consensus price target of $12.13.

Perion Network Stock Down 0.8%

Shares of Perion Network stock traded down $0.09 during trading hours on Wednesday, reaching $10.72. 626,975 shares of the company's stock were exchanged, compared to its average volume of 494,419. Perion Network has a 1 year low of $7.00 and a 1 year high of $12.74. The company has a market capitalization of $480.52 million, a P/E ratio of 41.23, a price-to-earnings-growth ratio of 0.76 and a beta of 1.47. The business has a fifty day moving average of $8.71 and a two-hundred day moving average of $8.73.

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

Institutional Trading of Perion Network

Several hedge funds have recently added to or reduced their stakes in the company. Private Capital Management LLC raised its holdings in Perion Network by 33.4% in the third quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company's stock valued at $18,816,000 after acquiring an additional 598,228 shares in the last quarter. Value Base Ltd. acquired a new stake in Perion Network in the first quarter valued at approximately $18,799,000. Phoenix Financial Ltd. raised its holdings in Perion Network by 2.5% in the first quarter. Phoenix Financial Ltd. now owns 2,279,380 shares of the technology company's stock valued at $18,554,000 after acquiring an additional 54,909 shares in the last quarter. Systematic Financial Management LP raised its holdings in Perion Network by 10.0% in the first quarter. Systematic Financial Management LP now owns 713,177 shares of the technology company's stock valued at $5,805,000 after acquiring an additional 65,092 shares in the last quarter. Finally, Y.D. More Investments Ltd raised its holdings in Perion Network by 10.3% in the fourth quarter. Y.D. More Investments Ltd now owns 391,332 shares of the technology company's stock valued at $3,346,000 after acquiring an additional 36,624 shares in the last quarter. Institutional investors and hedge funds 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.