Perion Network Ltd (NASDAQ:PERI) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Perion Network Ltd (NASDAQ:PERI) have received a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $13.88.

Separately, Weiss Ratings lowered shares of Perion Network from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday.

Perion Network Price Performance

NASDAQ PERI traded down $0.15 during mid-day trading on Monday, hitting $8.44. The stock had a trading volume of 310,257 shares, compared to its average volume of 423,625. The firm’s 50 day moving average is $9.38 and its 200 day moving average is $9.42. The stock has a market capitalization of $329.37 million, a price-to-earnings ratio of -24.11, a PEG ratio of 1.00 and a beta of 1.17. Perion Network has a twelve month low of $7.63 and a twelve month high of $11.27.

Perion Network (NASDAQ:PERI) last announced its earnings results on Tuesday, August 11th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. Perion Network had a negative net margin of 2.95% and a positive return on equity of 2.43%. The company had revenue of $98.24 million for the quarter, compared to analysts’ expectations of $96.72 million. As a group, equities research analysts expect that Perion Network will post 0.45 earnings per share for the current year.

Insider Activity at Perion Network

In other news, Director Eyal Kaplan sold 2,916 shares of Perion Network stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $9.77, for a total transaction of $28,489.32. Following the transaction, the director owned 54,142 shares in the company, valued at $528,967.34. The trade was a 5.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 6,765 shares of company stock worth $65,943. 2.78% of the stock is owned by insiders.

Institutional Investors Weigh In On Perion Network

Hedge funds have recently modified their holdings of the company. Systematic Financial Management LP raised its stake in Perion Network by 5.9% during the first quarter. Systematic Financial Management LP now owns 869,066 shares of the technology company’s stock worth $8,689,000 after purchasing an additional 48,246 shares during the period. CastleKnight Management LP boosted its holdings in Perion Network by 13.8% in the 4th quarter. CastleKnight Management LP now owns 479,020 shares of the technology company’s stock valued at $4,589,000 after purchasing an additional 58,000 shares during the last quarter. Sei Investments Co. grew its stake in shares of Perion Network by 100.2% in the 1st quarter. Sei Investments Co. now owns 166,538 shares of the technology company’s stock valued at $1,664,000 after buying an additional 83,359 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Perion Network in the 1st quarter valued at approximately $1,568,000. Finally, Perkins Capital Management Inc. increased its holdings in shares of Perion Network by 13.4% during the 1st quarter. Perkins Capital Management Inc. now owns 156,865 shares of the technology company’s stock worth $1,567,000 after buying an additional 18,490 shares during the last quarter. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Perion Network Company Profile

Perion Network Ltd. (NASDAQ: PERI) is a global digital advertising technology company headquartered in Israel. The company provides solutions that help advertisers, brands, agencies, publishers and commerce platforms reach audiences across digital channels, including connected television, online video, display, social media, retail media and search.

Perion’s portfolio includes Undertone, which develops high-impact digital advertising campaigns; Hivestack, a programmatic platform for digital out-of-home advertising; and CodeFuel, which provides search monetization and related technology for publishers and developers.