Perion Network’s (PERI) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Perion Network (NASDAQ:PERI) in a research note published on Thursday,Benzinga reports.

Several other equities research analysts also recently issued reports on PERI. Stifel Nicolaus reduced their price objective on Perion Network from $9.00 to $7.50 and set a “hold” rating for the company in a research note on Monday, October 14th. Lake Street Capital raised Perion Network from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Wednesday, July 31st. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $12.13.

Perion Network Trading Down 1.6 %

PERI traded down $0.14 on Thursday, hitting $8.89. 361,036 shares of the company’s stock were exchanged, compared to its average volume of 673,321. The stock has a fifty day moving average of $8.12 and a two-hundred day moving average of $9.28. Perion Network has a twelve month low of $7.47 and a twelve month high of $32.99. The firm has a market cap of $420.59 million, a PE ratio of 5.76, a P/E/G ratio of 0.42 and a beta of 1.47.

Perion Network (NASDAQ:PERI) last posted its earnings results on Wednesday, November 6th. The technology company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The firm had revenue of $102.20 million for the quarter, compared to analysts’ expectations of $99.93 million. Perion Network had a return on equity of 15.65% and a net margin of 11.34%. On average, analysts predict that Perion Network will post 0.91 EPS for the current year.

Hedge Funds Weigh In On Perion Network

Institutional investors have recently modified their holdings of the business. Squarepoint Ops LLC lifted its position in Perion Network by 997.5% during the 2nd quarter. Squarepoint Ops LLC now owns 133,815 shares of the technology company’s stock worth $1,117,000 after buying an additional 121,622 shares in the last quarter. Y.D. More Investments Ltd raised its position in shares of Perion Network by 580.4% in the 2nd quarter. Y.D. More Investments Ltd now owns 264,379 shares of the technology company’s stock valued at $2,191,000 after buying an additional 225,520 shares in the last quarter. ARK Investment Management LLC raised its stake 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 worth $1,603,000 after acquiring an additional 117,253 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Perion Network during the 1st quarter worth $820,000. Finally, Altshuler Shaham Ltd bought a new position in shares of Perion Network during the second quarter valued at $696,000. Institutional investors own 68.12% of the company’s stock.

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.