Perion Network (NASDAQ:PERI) Sets New 1-Year Low at $12.03

Perion Network Ltd. (NASDAQ:PERI) reached a new 52-week low on Monday . The company traded as low as $12.03 and last traded at $12.09, with a volume of 351661 shares trading hands. The stock had previously closed at $12.58.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PERI. Roth Capital cut shares of Perion Network from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 9th. Roth Mkm reissued a “neutral” rating and issued a $13.00 target price (down previously from $35.00) on shares of Perion Network in a research note on Tuesday, April 9th. Lake Street Capital reissued a “hold” rating and issued a $16.00 target price on shares of Perion Network in a research note on Monday, April 8th. Needham & Company LLC lowered their target price on shares of Perion Network from $35.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. Finally, StockNews.com cut shares of Perion Network from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Perion Network has an average rating of “Hold” and an average price target of $25.80.

Perion Network Price Performance

The firm has a market capitalization of $570.60 million, a P/E ratio of 5.08, a P/E/G ratio of 0.40 and a beta of 1.24. The stock’s 50 day moving average is $21.20 and its two-hundred day moving average is $26.08.

Perion Network (NASDAQ:PERI) last posted its quarterly earnings results on Wednesday, February 7th. The technology company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The business had revenue of $234.23 million during the quarter, compared to the consensus estimate of $233.09 million. Perion Network had a net margin of 15.80% and a return on equity of 23.06%. Perion Network’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 earnings per share. As a group, equities research analysts expect that Perion Network Ltd. will post 1.45 EPS for the current year.

Institutional Investors Weigh In On Perion Network

Several large investors have recently bought and sold shares of PERI. Legal & General Group Plc bought a new stake in Perion Network in the third quarter valued at approximately $25,000. Naples Money Management LLC bought a new stake in Perion Network in the fourth quarter valued at approximately $29,000. Ronald Blue Trust Inc. increased its stake in Perion Network by 227.2% in the third quarter. Ronald Blue Trust Inc. now owns 1,165 shares of the technology company’s stock valued at $36,000 after purchasing an additional 809 shares in the last quarter. Principal Securities Inc. bought a new stake in Perion Network in the fourth quarter valued at approximately $49,000. Finally, Blue Trust Inc. increased its stake in Perion Network by 42.3% in the fourth quarter. Blue Trust Inc. now owns 1,658 shares of the technology company’s stock valued at $51,000 after purchasing an additional 493 shares in the last quarter. 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 provides 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.