Perion Network (NASDAQ:PERI) Receives “Hold” Rating from Needham & Company LLC

Perion Network (NASDAQ:PERI)‘s stock had its “hold” rating reaffirmed by equities research analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports.

A number of other equities research analysts have also commented on the company. Lake Street Capital upgraded Perion Network from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Wednesday, July 31st. Stifel Nicolaus decreased their price target on Perion Network from $9.00 to $7.50 and set a “hold” rating on the stock in a research report on Monday, October 14th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Perion Network currently has a consensus rating of “Hold” and a consensus target price of $12.13.

Perion Network Stock Performance

Shares of PERI stock traded down $0.14 during trading hours on Thursday, hitting $8.89. The company had a trading volume of 361,136 shares, compared to its average volume of 318,091. Perion Network has a 12 month low of $7.47 and a 12 month high of $32.99. The firm has a market capitalization of $420.56 million, a price-to-earnings ratio of 9.56, a PEG ratio of 0.45 and a beta of 1.47. The firm’s fifty day moving average is $8.13 and its 200 day moving average is $9.26.

Perion Network (NASDAQ:PERI) last released its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. Perion Network had a return on equity of 10.91% and a net margin of 7.81%. The company had revenue of $102.20 million for the quarter, compared to analyst estimates of $99.93 million. On average, sell-side analysts expect that Perion Network will post 0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Acadian Asset Management LLC lifted its holdings in Perion Network by 43.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,722,676 shares of the technology company’s stock worth $14,367,000 after buying an additional 522,424 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Perion Network by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 1,485,179 shares of the technology company’s stock worth $33,387,000 after buying an additional 35,476 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Perion Network by 4.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,333,615 shares of the technology company’s stock worth $11,136,000 after buying an additional 55,745 shares in the last quarter. Y.D. More Investments Ltd lifted its holdings in Perion Network by 580.4% during the 2nd quarter. Y.D. More Investments Ltd now owns 264,379 shares of the technology company’s stock worth $2,191,000 after buying an additional 225,520 shares in the last quarter. Finally, ARK Investment Management LLC lifted its holdings in Perion Network by 24.2% during the 3rd quarter. ARK Investment Management LLC now owns 238,544 shares of the technology company’s stock worth $1,880,000 after buying an additional 46,542 shares in the last quarter. Institutional investors and hedge funds own 68.12% of the company’s stock.

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.