Perion Network Ltd. (NASDAQ:PERI) Receives $25.80 Consensus PT from Brokerages

Perion Network Ltd. (NASDAQ:PERI) has earned a consensus rating of “Hold” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $25.80.

Several analysts have issued reports on PERI shares. Lake Street Capital restated a “hold” rating and issued a $16.00 price objective on shares of Perion Network in a research note on Monday, April 8th. Needham & Company LLC dropped their price objective on Perion Network from $35.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. StockNews.com raised Perion Network from a “hold” rating to a “buy” rating in a report on Monday. Roth Capital downgraded Perion Network from a “buy” rating to a “neutral” rating in a report on Tuesday, April 9th. Finally, Roth Mkm reaffirmed a “neutral” rating and issued a $13.00 target price (down previously from $35.00) on shares of Perion Network in a report on Tuesday, April 9th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Atomi Financial Group Inc. raised its position in Perion Network by 29.7% during the 1st quarter. Atomi Financial Group Inc. now owns 12,640 shares of the technology company’s stock worth $284,000 after purchasing an additional 2,896 shares during the last quarter. GSA Capital Partners LLP bought a new position in Perion Network during the 1st quarter worth $820,000. Wakefield Asset Management LLLP raised its position in Perion Network by 39.0% during the 1st quarter. Wakefield Asset Management LLLP now owns 40,087 shares of the technology company’s stock worth $901,000 after purchasing an additional 11,254 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in Perion Network during the 1st quarter worth $812,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Perion Network by 18.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,943,795 shares of the technology company’s stock worth $88,657,000 after acquiring an additional 624,441 shares in the last quarter. 68.12% of the stock is currently owned by institutional investors.

Perion Network Stock Performance

PERI opened at $12.71 on Friday. Perion Network has a 52-week low of $10.77 and a 52-week high of $36.86. The firm has a market capitalization of $609.95 million, a PE ratio of 5.43, a PEG ratio of 0.40 and a beta of 1.37. The business’s 50-day simple moving average is $17.85 and its 200 day simple moving average is $24.37.

Perion Network (NASDAQ:PERI) last released its earnings results on Wednesday, February 7th. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.11. The business had revenue of $234.23 million for the quarter, compared to analyst estimates of $233.09 million. Perion Network had a return on equity of 23.06% and a net margin of 15.80%. Perion Network’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.84 earnings per share. On average, research analysts forecast that Perion Network will post 1.45 earnings per share for the current year.

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.