Perion Network Ltd. (NASDAQ:PERI) Given Average Recommendation of "Hold" by Analysts

Perion Network Ltd. (NASDAQ:PERI - Get Free Report) has earned an average recommendation of "Hold" from the five brokerages that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $13.67.

PERI has been the topic of several recent research reports. Needham & Company LLC reissued a "hold" rating on shares of Perion Network in a research report on Thursday, August 1st. Lake Street Capital upgraded shares of Perion Network from a "hold" rating to a "buy" rating and set a $10.00 target price for the company in a research note on Wednesday, July 31st. Finally, Oppenheimer lowered shares of Perion Network from an "outperform" rating to a "market perform" rating in a report on Monday, June 10th.

Institutional Investors Weigh In On Perion Network

Several hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its stake in Perion Network by 16.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,105 shares of the technology company's stock valued at $188,000 after buying an additional 847 shares in the last quarter. Pitcairn Co. lifted its stake in Perion Network by 9.0% during the first quarter. Pitcairn Co. now owns 12,406 shares of the technology company's stock worth $279,000 after purchasing an additional 1,027 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Perion Network by 9.7% in the second quarter. Van ECK Associates Corp now owns 16,540 shares of the technology company's stock worth $138,000 after purchasing an additional 1,468 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Perion Network by 17.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,244 shares of the technology company's stock valued at $128,000 after purchasing an additional 2,299 shares during the last quarter. Finally, Nebula Research & Development LLC raised its holdings in shares of Perion Network by 12.2% during the fourth quarter. Nebula Research & Development LLC now owns 24,384 shares of the technology company's stock worth $753,000 after purchasing an additional 2,659 shares during the period. Institutional investors own 68.12% of the company's stock.

Perion Network Stock Performance

PERI traded down $0.11 on Monday, reaching $7.86. 191,537 shares of the company's stock were exchanged, compared to its average volume of 728,684. The company has a market cap of $377.21 million, a price-to-earnings ratio of 3.80, a PEG ratio of 0.40 and a beta of 1.48. Perion Network has a twelve month low of $7.47 and a twelve month high of $32.99. The company's 50 day moving average is $8.37 and its 200-day moving average is $11.25.

Perion Network (NASDAQ:PERI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.03. Perion Network had a net margin of 11.34% and a return on equity of 15.65%. The firm had revenue of $108.69 million during the quarter, compared to analysts' expectations of $106.98 million. Sell-side analysts forecast that Perion Network will post 0.91 EPS for the current year.

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.