Perion Network (NASDAQ:PERI) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Perion Network (NASDAQ:PERI - Free Report) in a research note published on Thursday,Benzinga reports.

A number of other analysts also recently issued reports on PERI. Stifel Nicolaus cut their price target on shares of Perion Network from $9.00 to $7.50 and set a "hold" rating for the company in a report on Monday, October 14th. Lake Street Capital raised Perion Network from a "hold" rating to a "buy" rating and set a $10.00 price objective on the stock in a research note on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to 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 NASDAQ PERI traded up $0.05 during mid-day trading on Thursday, reaching $9.10. The company's stock had a trading volume of 452,774 shares, compared to its average volume of 673,622. The firm has a market capitalization of $430.52 million, a PE ratio of 5.88, a P/E/G ratio of 0.42 and a beta of 1.47. The stock has a fifty day moving average of $8.11 and a two-hundred day moving average of $9.28. Perion Network has a 52 week low of $7.47 and a 52 week high of $32.99.

Perion Network (NASDAQ:PERI - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.11. The firm had revenue of $102.20 million during the quarter, compared to analyst estimates of $99.93 million. Perion Network had a return on equity of 15.65% and a net margin of 11.34%. Analysts anticipate that Perion Network will post 0.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Perion Network

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Pitcairn Co. grew its holdings 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 acquiring an additional 1,027 shares during the period. Van ECK Associates Corp raised its holdings in Perion Network by 9.7% during the second quarter. Van ECK Associates Corp now owns 16,540 shares of the technology company's stock valued at $138,000 after buying an additional 1,468 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Perion Network by 17.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,244 shares of the technology company's stock worth $128,000 after buying an additional 2,299 shares during the period. Atomi Financial Group Inc. grew its position in shares of Perion Network by 29.7% in the first quarter. Atomi Financial Group Inc. now owns 12,640 shares of the technology company's stock valued at $284,000 after purchasing an additional 2,896 shares during the last quarter. Finally, Sei Investments Co. increased its stake in Perion Network by 9.4% in the second quarter. Sei Investments Co. now owns 59,343 shares of the technology company's stock valued at $496,000 after acquiring an additional 5,078 shares during the period. 68.12% of the stock is currently owned by institutional investors.

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.