Stifel Nicolaus Trims Perion Network (NASDAQ:PERI) Target Price to $7.50

Perion Network (NASDAQ:PERI - Free Report) had its price target lowered by Stifel Nicolaus from $9.00 to $7.50 in a research report report published on Monday, Benzinga reports. Stifel Nicolaus currently has a hold rating on the technology company's stock.

PERI has been the subject of several other reports. Lake Street Capital raised Perion Network from a hold rating to a buy rating and set a $10.00 target price for the company in a research report on Wednesday, July 31st. Needham & Company LLC restated a hold rating on shares of Perion Network in a report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Perion Network currently has a consensus rating of Hold and an average target price of $12.13.

Perion Network Price Performance

Shares of PERI stock traded down $0.08 during trading hours on Monday, hitting $7.83. The company had a trading volume of 233,106 shares, compared to its average volume of 704,602. The stock has a market capitalization of $375.77 million, a PE ratio of 3.69, a price-to-earnings-growth ratio of 0.39 and a beta of 1.48. The company's fifty day moving average is $8.23 and its 200 day moving average is $10.24. Perion Network has a fifty-two week low of $7.47 and a fifty-two week high of $32.99.

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

Institutional Investors Weigh In On Perion Network

A number of large investors have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in shares of Perion Network by 16.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,105 shares of the technology company's stock worth $188,000 after acquiring an additional 847 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Perion Network in the fourth quarter valued at about $220,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Perion Network during the first quarter worth about $204,000. BigSur Wealth Management LLC purchased a new position in shares of Perion Network during the second quarter worth about $84,000. Finally, Lifestyle Asset Management Inc. acquired a new position in Perion Network in the 1st quarter valued at about $230,000. 68.12% of the stock is owned by hedge funds and other institutional investors.

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.