Perion Network (NASDAQ:PERI) Rating Increased to Buy at StockNews.com

Perion Network (NASDAQ:PERI) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

PERI has been the topic of a number of other reports. Roth Capital lowered shares of Perion Network from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 9th. Roth Mkm restated a “neutral” rating and set a $13.00 price target (down previously from $35.00) on shares of Perion Network in a research report on Tuesday, April 9th. Lake Street Capital reaffirmed a “hold” rating and issued a $16.00 price objective on shares of Perion Network in a research report on Monday, April 8th. Finally, Needham & Company LLC reduced their target price on shares of Perion Network from $35.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, April 8th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $25.80.

Perion Network Stock Performance

Shares of PERI opened at $12.86 on Monday. The firm has a market capitalization of $617.15 million, a P/E ratio of 5.50, a P/E/G ratio of 0.40 and a beta of 1.37. Perion Network has a 52 week low of $10.77 and a 52 week high of $36.86. The stock has a 50 day moving average price of $18.07 and a two-hundred day moving average price of $24.46.

Perion Network (NASDAQ:PERI) last announced its earnings results on Wednesday, February 7th. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.11. Perion Network had a return on equity of 23.06% and a net margin of 15.80%. The company had revenue of $234.23 million for the quarter, compared to analysts’ expectations of $233.09 million. During the same quarter in the previous year, the firm earned $0.84 earnings per share. Perion Network’s quarterly revenue was up 11.7% on a year-over-year basis. On average, equities analysts forecast that Perion Network will post 1.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PERI. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Perion Network during the third quarter valued at $2,573,000. Blue Trust Inc. increased its position in shares of Perion Network by 42.3% in the fourth quarter. Blue Trust Inc. now owns 1,658 shares of the technology company’s stock worth $51,000 after purchasing an additional 493 shares during the last quarter. Vanguard Group Inc. raised its stake in Perion Network by 1.9% in the third quarter. Vanguard Group Inc. now owns 1,435,197 shares of the technology company’s stock valued at $43,960,000 after purchasing an additional 26,181 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in Perion Network during the third quarter valued at approximately $365,000. Finally, Origin Asset Management LLP grew its stake in Perion Network by 69.5% in the 3rd quarter. Origin Asset Management LLP now owns 117,032 shares of the technology company’s stock worth $3,585,000 after buying an additional 48,000 shares in the last quarter. 68.12% of the stock is currently 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.