Perion Network (NASDAQ:PERI) Price Target Cut to $10.00 by Analysts at Lake Street Capital

Perion Network (NASDAQ:PERI) had its price target lowered by Lake Street Capital from $16.00 to $10.00 in a report published on Tuesday, Benzinga reports. The firm currently has a hold rating on the technology company’s stock.

Several other research firms also recently weighed in on PERI. Roth Capital downgraded Perion Network from a buy rating to a neutral rating in a report on Tuesday, April 9th. Needham & Company LLC downgraded Perion Network from a buy rating to a hold rating in a report on Monday, June 10th. Roth Mkm reissued a neutral rating and issued a $13.00 price objective (down from $35.00) on shares of Perion Network in a report on Tuesday, April 9th. StockNews.com downgraded Perion Network from a buy rating to a hold rating in a report on Tuesday, May 14th. Finally, Oppenheimer downgraded Perion Network from an outperform rating to a market perform rating in a report on Monday, June 10th. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Perion Network currently has an average rating of Hold and an average price target of $24.60.

Perion Network Stock Up 2.1 %

Shares of Perion Network stock opened at $8.61 on Tuesday. The firm has a market capitalization of $413.19 million, a P/E ratio of 4.12, a P/E/G ratio of 0.39 and a beta of 1.40. Perion Network has a 52 week low of $8.14 and a 52 week high of $36.86. The firm’s 50 day moving average is $12.06 and its two-hundred day moving average is $21.46.

Perion Network (NASDAQ:PERI) last announced its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $157.82 million during the quarter, compared to analysts’ expectations of $156.96 million. Perion Network had a net margin of 13.94% and a return on equity of 20.70%. As a group, research analysts expect that Perion Network will post 1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Perion Network

Several hedge funds have recently modified their holdings of the stock. Cetera Advisors LLC acquired a new stake in shares of Perion Network during the first quarter worth $394,000. Tidal Investments LLC acquired a new stake in Perion Network in the first quarter valued at $851,000. B. Riley Wealth Advisors Inc. acquired a new stake in Perion Network in the first quarter valued at $204,000. Pitcairn Co. lifted its holdings in Perion Network by 9.0% in the first quarter. Pitcairn Co. now owns 12,406 shares of the technology company’s stock valued at $279,000 after acquiring an additional 1,027 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Perion Network by 2.4% in the first quarter. Vanguard Group Inc. now owns 1,485,179 shares of the technology company’s stock valued at $33,387,000 after acquiring an additional 35,476 shares during the period. 68.12% of the stock is owned by institutional investors and hedge funds.

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.