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

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

A number of other analysts have also recently commented on PERI. Lake Street Capital reiterated a "buy" rating and set a $10.50 target price (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 report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $12.13.

Perion Network Stock Performance

Shares of PERI traded up $0.22 during midday trading on Wednesday, hitting $10.94. 307,914 shares of the stock were exchanged, compared to its average volume of 496,416. Perion Network has a 52-week low of $6.99 and a 52-week high of $12.73. The stock has a fifty day simple moving average of $8.71 and a 200 day simple moving average of $8.74. The firm has a market cap of $490.16 million, a P/E ratio of 42.19, a P/E/G ratio of 0.76 and a beta of 1.47.

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

Hedge Funds Weigh In On Perion Network

Several institutional investors have recently added to or reduced their stakes in PERI. Perkins Capital Management Inc. boosted its stake in shares of Perion Network by 4.2% during the 4th quarter. Perkins Capital Management Inc. now owns 55,450 shares of the technology company's stock worth $470,000 after acquiring an additional 2,240 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Perion Network by 2.2% in the 4th quarter. Two Sigma Advisers LP now owns 116,600 shares of the technology company's stock valued at $988,000 after acquiring an additional 2,500 shares during the last quarter. Orion Portfolio Solutions LLC raised its holdings in Perion Network by 8.5% in the 4th quarter. Orion Portfolio Solutions LLC now owns 34,707 shares of the technology company's stock valued at $294,000 after acquiring an additional 2,711 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Perion Network during the 4th quarter worth $41,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Perion Network during the 4th quarter worth $45,000. 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.