Perion Network (NASDAQ:PERI) Rating Increased to Buy at StockNews.com

Perion Network (NASDAQ:PERI) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Other analysts have also issued research reports about the company. Lake Street Capital reissued a “hold” rating and set a $16.00 price objective on shares of Perion Network in a report on Monday, April 8th. Roth Mkm reissued a “neutral” rating and issued a $13.00 price objective (down previously from $35.00) on shares of Perion Network in a research note on Tuesday, April 9th. Needham & Company LLC dropped their target price on Perion Network from $35.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, April 8th. Finally, Roth Capital downgraded Perion Network from a “buy” rating to a “neutral” rating in a report on Tuesday, April 9th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $25.80.

Perion Network Stock Performance

Shares of PERI stock opened at $12.71 on Monday. The stock’s 50 day simple moving average is $17.85 and its 200 day simple moving average is $24.37. Perion Network has a twelve month low of $10.77 and a twelve month high of $36.86. The company has a market capitalization of $609.95 million, a price-to-earnings ratio of 5.43, a PEG ratio of 0.40 and a beta of 1.37.

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

Institutional Investors Weigh In On Perion Network

Several large investors have recently modified their holdings of PERI. Harel Insurance Investments & Financial Services Ltd. grew its stake in Perion Network by 46.6% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,972,744 shares of the technology company’s stock valued at $91,055,000 after purchasing an additional 945,194 shares in the last quarter. Meitav Investment House Ltd. lifted its holdings in Perion Network by 62.7% during the 3rd quarter. Meitav Investment House Ltd. now owns 998,854 shares of the technology company’s stock worth $30,644,000 after purchasing an additional 385,010 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its holdings in Perion Network by 14.2% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,651,441 shares of the technology company’s stock worth $81,199,000 after purchasing an additional 330,000 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Perion Network by 12.8% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,299,039 shares of the technology company’s stock worth $70,971,000 after purchasing an additional 260,000 shares during the last quarter. Finally, Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD acquired a new stake in Perion Network during the 3rd quarter worth approximately $5,771,000. 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.