StockNews.com Upgrades Perion Network (NASDAQ:PERI) to "Hold"

Perion Network (NASDAQ:PERI - Get Free Report) was upgraded by stock analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Wednesday.

PERI has been the subject of several other reports. Needham & Company LLC reiterated a "hold" rating on shares of Perion Network in a research report on Wednesday, May 14th. Roth Capital set a $14.00 target price on shares of Perion Network in a research report on Wednesday, May 14th. Lake Street Capital upped their target price on shares of Perion Network from $10.50 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Finally, Roth Mkm upgraded shares of Perion Network from a "neutral" rating to a "buy" rating and upped their target price for the stock from $9.00 to $14.00 in a research report on Wednesday, May 14th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $12.13.

Perion Network Price Performance

PERI opened at $10.50 on Wednesday. Perion Network has a one year low of $7.00 and a one year high of $12.74. The company has a fifty day moving average price of $8.79 and a 200-day moving average price of $8.77. The firm has a market capitalization of $470.66 million, a P/E ratio of 40.39, a price-to-earnings-growth ratio of 0.76 and a beta of 1.47.

Perion Network (NASDAQ:PERI - Get Free Report) last announced its earnings results 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 return on equity of 5.55% and a net margin of 2.53%. The company had revenue of $129.58 million during the quarter, compared to analysts' expectations of $130.44 million. On average, analysts expect that Perion Network will post 0.51 earnings per share for the current year.

Institutional Trading of Perion Network

Several hedge funds have recently added to or reduced their stakes in PERI. Value Base Ltd. bought a new stake in Perion Network in the first quarter worth $18,799,000. Private Capital Management LLC raised its stake in shares of Perion Network by 33.4% during 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 during the last quarter. Murchinson Ltd. bought a new position in shares of Perion Network during the first quarter valued at about $2,274,000. Systematic Financial Management LP raised its stake in shares of Perion Network by 38.3% during the fourth quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company's stock valued at $5,489,000 after acquiring an additional 179,557 shares during the last quarter. Finally, Sphera Management Technology Funds Ltd bought a new position in shares of Perion Network during the fourth quarter valued at about $995,000. 68.12% of the stock is owned by 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.

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