Perion Network (NASDAQ:PERI) Raised to Buy at Roth Capital

Perion Network (NASDAQ:PERI - Get Free Report) was upgraded by Roth Capital from a "neutral" rating to a "buy" rating in a research report issued on Wednesday,Finviz reports. The firm presently has a $15.00 target price on the technology company's stock. Roth Capital's price target indicates a potential upside of 38.25% from the stock's current price.

PERI has been the subject of several other research reports. 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 note on Wednesday, February 19th. Needham & Company LLC restated a "hold" rating on shares of Perion Network in a research report on Wednesday. Finally, StockNews.com cut shares of Perion Network from a "hold" rating to a "sell" rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $11.00.

Perion Network Stock Up 13.4%

Shares of NASDAQ PERI opened at $10.85 on Wednesday. The stock's 50-day simple moving average is $8.55 and its two-hundred day simple moving average is $8.68. Perion Network has a twelve month low of $7.00 and a twelve month high of $12.74. The firm has a market capitalization of $486.35 million, a P/E ratio of 41.73, a P/E/G ratio of 0.76 and a beta of 1.47.

Perion Network (NASDAQ:PERI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.19 EPS for the quarter, missing the consensus estimate 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 anticipate that Perion Network will post 0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Perion Network

Several institutional investors have recently bought and sold shares of PERI. Russell Investments Group Ltd. purchased a new position in Perion Network in the 4th quarter worth approximately $41,000. SBI Securities Co. Ltd. purchased a new position in shares of Perion Network in the fourth quarter worth $45,000. Perritt Capital Management Inc purchased a new position in shares of Perion Network in the fourth quarter worth $127,000. State of Wyoming raised its holdings in Perion Network by 217.2% during the 4th quarter. State of Wyoming now owns 19,676 shares of the technology company's stock valued at $167,000 after buying an additional 13,472 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its position in Perion Network by 56.4% during the 4th quarter. Point72 Asset Management L.P. now owns 26,600 shares of the technology company's stock valued at $225,000 after buying an additional 9,589 shares during the period. 68.12% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.