Lake Street Capital Upgrades Perion Network (NASDAQ:PERI) to Buy

Lake Street Capital upgraded shares of Perion Network (NASDAQ:PERI) from a hold rating to a buy rating in a report published on Wednesday, MarketBeat Ratings reports. The firm currently has $10.00 price objective on the technology company’s stock.

A number of other research analysts have also weighed in on the company. Needham & Company LLC lowered Perion Network from a buy rating to a hold rating in a research report on Monday, June 10th. Roth Mkm reaffirmed a neutral rating and issued a $13.00 price target (down previously from $35.00) on shares of Perion Network in a report on Tuesday, April 9th. Oppenheimer downgraded shares of Perion Network from an outperform rating to a market perform rating in a report on Monday, June 10th. StockNews.com downgraded shares of Perion Network from a buy rating to a hold rating in a report on Tuesday, May 14th. Finally, Roth Capital downgraded shares of Perion Network from a buy rating to a neutral rating in a report on Tuesday, April 9th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Perion Network currently has an average rating of Hold and a consensus target price of $13.67.

Perion Network Stock Performance

Shares of PERI stock opened at $8.12 on Wednesday. Perion Network has a 52-week low of $7.84 and a 52-week high of $36.26. The firm has a market capitalization of $389.68 million, a PE ratio of 3.87, a PEG ratio of 0.45 and a beta of 1.41. The stock has a fifty day simple moving average of $9.30 and a two-hundred day simple moving average of $16.13.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The firm had revenue of $157.82 million for the quarter, compared to analysts’ expectations of $156.96 million. Perion Network had a net margin of 11.34% and a return on equity of 15.65%. On average, sell-side analysts forecast that Perion Network will post 0.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Perion Network

Several institutional investors have recently bought and sold shares of PERI. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Perion Network by 18.8% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,943,795 shares of the technology company’s stock valued at $88,657,000 after buying an additional 624,441 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Perion Network by 12.8% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,299,039 shares of the technology company’s stock valued at $70,971,000 after buying an additional 260,000 shares during the period. ARK Investment Management LLC increased its holdings in Perion Network by 156.9% during the second quarter. ARK Investment Management LLC now owns 192,002 shares of the technology company’s stock valued at $1,603,000 after buying an additional 117,253 shares during the period. Victory Capital Management Inc. grew its holdings in Perion Network by 8.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,188,634 shares of the technology company’s stock worth $36,693,000 after purchasing an additional 92,665 shares during the last quarter. Finally, Congress Asset Management Co. MA grew its holdings in Perion Network by 9.0% in the fourth quarter. Congress Asset Management Co. MA now owns 841,948 shares of the technology company’s stock worth $25,991,000 after purchasing an additional 69,342 shares during the last quarter. 68.12% of the stock is owned by hedge funds and other 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.