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

Perion Network (NASDAQ:PERI - Get Free Report) was upgraded by investment analysts at Roth Capital from a "neutral" rating to a "buy" rating in a note issued to investors on Wednesday, MarketBeat reports. The firm presently has a $15.00 target price on the technology company's stock. Roth Capital's price objective points to a potential upside of 37.49% from the company's previous close.

Other equities analysts also recently issued research reports about the company. Needham & Company LLC reissued a "hold" rating on shares of Perion Network in a research report on Wednesday, May 14th. Lake Street Capital reissued a "buy" rating and issued a $10.50 price objective (down from $11.00) on shares of Perion Network in a research report on Wednesday, February 19th. Finally, StockNews.com downgraded Perion Network from a "hold" rating to a "sell" rating in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $12.13.

Perion Network Trading Up 1.8%

PERI traded up $0.19 on Wednesday, hitting $10.91. 329,302 shares of the company were exchanged, compared to its average volume of 494,537. The firm has a 50-day moving average price of $8.71 and a two-hundred day moving average price of $8.74. The company has a market cap of $489.04 million, a price-to-earnings ratio of 41.92, a price-to-earnings-growth ratio of 0.76 and a beta of 1.47. Perion Network has a twelve month low of $7.00 and a twelve month high of $12.74.

Perion Network (NASDAQ:PERI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.19 earnings per share 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 firm had revenue of $129.58 million during the quarter, compared to analyst estimates of $130.44 million. Equities analysts expect that Perion Network will post 0.51 EPS for the current year.

Hedge Funds Weigh In On Perion Network

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Perion Network by 39.5% during the third quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company's stock valued at $2,984,000 after purchasing an additional 107,278 shares during the period. Y.D. More Investments Ltd increased its holdings in Perion Network by 10.3% in the 4th quarter. Y.D. More Investments Ltd now owns 391,332 shares of the technology company's stock valued at $3,346,000 after buying an additional 36,624 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Perion Network in the 4th quarter valued at $489,000. New York State Common Retirement Fund lifted its holdings in shares of Perion Network by 23.2% during the 4th quarter. New York State Common Retirement Fund now owns 82,480 shares of the technology company's stock worth $699,000 after acquiring an additional 15,509 shares during the period. Finally, Private Capital Management LLC boosted its position in shares of Perion Network by 33.4% during the 3rd 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. 68.12% of the stock is currently owned by institutional investors.

Perion Network Company Profile

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.