Perion Network Ltd. (NASDAQ:PERI) Receives Consensus Recommendation of "Hold" from Brokerages

Perion Network Ltd. (NASDAQ:PERI - Get Free Report) has received an average recommendation of "Hold" from the six ratings firms that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $12.25.

A number of research analysts have issued reports on PERI shares. StockNews.com lowered shares of Perion Network from a "hold" rating to a "sell" rating in a research note on Thursday, February 20th. Needham & Company LLC reissued a "hold" rating on shares of Perion Network in a research report on Thursday, February 20th. Finally, Lake Street Capital reaffirmed a "buy" rating and set a $10.50 price target (down previously from $11.00) on shares of Perion Network in a research report on Wednesday, February 19th.

Perion Network Stock Performance

Perion Network stock traded down $0.40 during midday trading on Thursday, hitting $8.09. 643,107 shares of the company's stock were exchanged, compared to its average volume of 427,536. The company has a market cap of $362.63 million, a PE ratio of 31.12, a P/E/G ratio of 0.76 and a beta of 1.48. The firm has a 50-day moving average of $8.89 and a two-hundred day moving average of $8.56. Perion Network has a 12 month low of $7.47 and a 12 month high of $23.74.

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Perion Network (NASDAQ:PERI - Get Free Report) last announced its earnings results on Wednesday, February 19th. The technology company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.15). The firm had revenue of $129.58 million during the quarter, compared to the consensus estimate of $130.44 million. Perion Network had a return on equity of 5.55% and a net margin of 2.53%. As a group, equities analysts expect that Perion Network will post 0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Private Capital Management LLC grew its holdings in Perion Network by 33.4% during the third quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company's stock worth $18,816,000 after acquiring an additional 598,228 shares during the period. Clearline Capital LP purchased a new position in shares of Perion Network during the 3rd quarter valued at approximately $2,221,000. Systematic Financial Management LP increased its holdings in shares of Perion Network by 38.3% during the 4th quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company's stock valued at $5,489,000 after purchasing an additional 179,557 shares in the last quarter. Sphera Management Technology Funds Ltd acquired a new position in shares of Perion Network in the 4th quarter valued at $995,000. Finally, JPMorgan Chase & Co. boosted its holdings in Perion Network by 39.5% during the third quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company's stock worth $2,984,000 after buying an additional 107,278 shares in the last quarter. Hedge funds and other institutional investors 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.