Perion Network Ltd. (NASDAQ:PERI) Receives $25.80 Consensus Price Target from Brokerages

Perion Network Ltd. (NASDAQ:PERI) has received an average rating of “Hold” from the six brokerages that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $25.80.

A number of research firms recently commented on PERI. Roth Capital downgraded Perion Network from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Perion Network in a report on Thursday. StockNews.com raised shares of Perion Network from a “hold” rating to a “buy” rating in a report on Monday. Lake Street Capital reaffirmed a “hold” rating and set a $16.00 price target on shares of Perion Network in a research note on Monday, April 8th. Finally, Roth Mkm reiterated a “neutral” rating and set a $13.00 price objective (down previously from $35.00) on shares of Perion Network in a research report on Tuesday, April 9th.

Perion Network Stock Performance

Shares of PERI stock opened at $12.22 on Friday. The stock has a fifty day simple moving average of $17.44 and a two-hundred day simple moving average of $24.21. The firm has a market capitalization of $586.45 million, a PE ratio of 5.22, a PEG 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.

Perion Network (NASDAQ:PERI) last issued 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 the consensus estimate of $233.09 million. During the same quarter last year, the company earned $0.84 EPS. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts forecast that Perion Network will post 1.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Perion Network

Institutional investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. raised its position in Perion Network by 18.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,943,795 shares of the technology company’s stock worth $88,657,000 after purchasing an additional 624,441 shares during the period. Clal Insurance Enterprises Holdings Ltd lifted its holdings in Perion Network by 14.2% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,651,441 shares of the technology company’s stock valued at $81,199,000 after buying an additional 330,000 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its position in Perion Network by 12.8% in the 4th 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. Vanguard Group Inc. grew its stake in Perion Network by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,435,197 shares of the technology company’s stock worth $43,960,000 after acquiring an additional 26,181 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Perion Network by 8.5% during the fourth quarter. Victory Capital Management Inc. now owns 1,188,634 shares of the technology company’s stock worth $36,693,000 after acquiring an additional 92,665 shares during the period. Institutional investors own 68.12% of the company’s stock.

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.