Analysts Set Perion Network Ltd. (NASDAQ:PERI) Price Target at $12.25

Perion Network Ltd. (NASDAQ:PERI) has been assigned an average rating of “Hold” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $12.25.

Several brokerages have recently issued reports on PERI. Lake Street Capital reaffirmed a “buy” rating and issued a $10.50 price objective (down previously from $11.00) on shares of Perion Network in a research note on Wednesday, February 19th. StockNews.com upgraded shares of Perion Network from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Perion Network in a report on Thursday, February 20th.

Hedge Funds Weigh In On Perion Network

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sphera Management Technology Funds Ltd acquired a new stake in shares of Perion Network in the fourth quarter worth $995,000. Two Sigma Advisers LP boosted its position in Perion Network by 2.2% during the 4th quarter. Two Sigma Advisers LP now owns 116,600 shares of the technology company’s stock worth $988,000 after acquiring an additional 2,500 shares during the period. Two Sigma Investments LP grew its stake in Perion Network by 5.0% during the 4th quarter. Two Sigma Investments LP now owns 200,862 shares of the technology company’s stock valued at $1,701,000 after acquiring an additional 9,592 shares in the last quarter. State of Wyoming increased its holdings in shares of Perion Network by 217.2% in the 4th quarter. State of Wyoming now owns 19,676 shares of the technology company’s stock valued at $167,000 after purchasing an additional 13,472 shares during the period. Finally, Systematic Financial Management LP lifted its position in shares of Perion Network by 38.3% in the fourth quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company’s stock worth $5,489,000 after purchasing an additional 179,557 shares in the last quarter. 68.12% of the stock is currently owned by hedge funds and other institutional investors.

Perion Network Price Performance

PERI opened at $8.16 on Monday. The business has a 50 day moving average price of $8.75 and a two-hundred day moving average price of $8.52. The company has a market capitalization of $365.77 million, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 0.76 and a beta of 1.53. Perion Network has a 1-year low of $7.47 and a 1-year high of $22.65.

Perion Network (NASDAQ:PERI) last announced its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.15). The firm had revenue of $129.58 million during the quarter, compared to analyst estimates of $130.44 million. Perion Network had a net margin of 2.53% and a return on equity of 5.55%. Equities analysts expect that Perion Network will post 0.51 EPS for the current fiscal year.

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.