Perion Network Ltd. (NASDAQ:PERI) Receives $12.13 Consensus Price Target from Analysts

Shares of Perion Network Ltd. (NASDAQ:PERI - Get Free Report) have earned an average rating of "Hold" from the six analysts that are covering the stock, Marketbeat reports. Five investment 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 analysts that have issued a report on the stock in the last year is $12.13.

A number of brokerages have recently weighed in on PERI. Stifel Nicolaus reduced their price objective on shares of Perion Network from $9.00 to $7.50 and set a "hold" rating for the company in a research note on Monday, October 14th. Needham & Company LLC reissued a "hold" rating on shares of Perion Network in a research report on Thursday, August 1st. Finally, Lake Street Capital raised Perion Network from a "hold" rating to a "buy" rating and set a $10.00 target price on the stock in a report on Wednesday, July 31st.

Perion Network Stock Up 1.6 %

Shares of NASDAQ:PERI traded up $0.13 during trading on Friday, reaching $8.02. 264,530 shares of the company traded hands, compared to its average volume of 684,778. Perion Network has a 1-year low of $7.47 and a 1-year high of $32.99. The firm has a market cap of $379.43 million, a P/E ratio of 5.15, a price-to-earnings-growth ratio of 0.41 and a beta of 1.48. The firm has a fifty day simple moving average of $8.18 and a 200 day simple moving average of $9.54.

Perion Network (NASDAQ:PERI - Get Free Report) last posted its earnings results on Wednesday, July 31st. The technology company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.12 by $0.03. The company had revenue of $108.69 million during the quarter, compared to the consensus estimate of $106.98 million. Perion Network had a net margin of 11.34% and a return on equity of 15.65%. As a group, research analysts anticipate that Perion Network will post 0.91 EPS for the current year.

Hedge Funds Weigh In On Perion Network

Several large investors have recently added to or reduced their stakes in the company. BigSur Wealth Management LLC acquired a new position in shares of Perion Network in the second quarter valued at $84,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Perion Network by 17.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,244 shares of the technology company's stock valued at $128,000 after buying an additional 2,299 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Perion Network by 9.7% during the 2nd quarter. Van ECK Associates Corp now owns 16,540 shares of the technology company's stock worth $138,000 after acquiring an additional 1,468 shares during the period. Riverwater Partners LLC bought a new stake in Perion Network in the second quarter valued at about $157,000. Finally, Hsbc Holdings PLC bought a new stake in Perion Network in the second quarter valued at about $157,000. Institutional investors and hedge funds 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 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.