Perion Network Ltd. (NASDAQ:PERI) Receives $24.60 Average Target Price from Brokerages

Shares of Perion Network Ltd. (NASDAQ:PERI) have earned a consensus rating of “Hold” from the six brokerages that are currently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating. The average 1 year price objective among brokerages that have covered the stock in the last year is $24.60.

PERI has been the subject of several recent research reports. Roth Capital downgraded Perion Network from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 9th. StockNews.com downgraded Perion Network from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Lake Street Capital lowered their price objective on Perion Network from $16.00 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, June 11th. Oppenheimer downgraded Perion Network from an “outperform” rating to a “market perform” rating in a research note on Monday, June 10th. Finally, Roth Mkm reaffirmed 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.

Perion Network Trading Down 0.9 %

Shares of NASDAQ PERI opened at $8.35 on Friday. The company has a market cap of $400.72 million, a price-to-earnings ratio of 3.98, a PEG ratio of 0.44 and a beta of 1.40. Perion Network has a 12 month low of $8.14 and a 12 month high of $36.86. The stock has a 50-day moving average price of $11.12 and a two-hundred day moving average price of $19.97.

Perion Network (NASDAQ:PERI) last issued its 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 business had revenue of $157.82 million for the quarter, compared to analyst estimates of $156.96 million. Perion Network had a return on equity of 20.70% and a net margin of 13.94%. On average, sell-side analysts predict that Perion Network will post 0.86 earnings per share for the current year.

Institutional Trading of Perion Network

Institutional investors have recently added to or reduced their stakes in the stock. Naples Money Management LLC bought a new stake in Perion Network in the fourth quarter valued at approximately $29,000. Principal Securities Inc. bought a new position in shares of Perion Network during the 4th quarter worth approximately $49,000. Blue Trust Inc. boosted its holdings in shares of Perion Network by 42.3% during the 4th quarter. Blue Trust Inc. now owns 1,658 shares of the technology company’s stock worth $51,000 after buying an additional 493 shares in the last quarter. AllSquare Wealth Management LLC boosted its holdings in shares of Perion Network by 154.5% during the 3rd quarter. AllSquare Wealth Management LLC now owns 5,600 shares of the technology company’s stock worth $172,000 after buying an additional 3,400 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Perion Network by 16.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,105 shares of the technology company’s stock worth $188,000 after buying an additional 847 shares in the last quarter. 68.12% of the stock is currently 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.