Perion Network's (PERI) Hold Rating Reaffirmed at Needham & Company LLC

Perion Network (NASDAQ:PERI - Get Free Report)'s stock had its "hold" rating restated by Needham & Company LLC in a report issued on Thursday,Benzinga reports.

Several other equities analysts also recently weighed in on the company. StockNews.com downgraded Perion Network from a "hold" rating to a "sell" rating in a report on Friday, April 4th. Lake Street Capital restated a "buy" rating and set a $10.50 price objective (down from $11.00) on shares of Perion Network in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Perion Network presently has a consensus rating of "Hold" and a consensus target price of $12.00.

Perion Network Stock Up 2.3 %

Shares of Perion Network stock traded up $0.20 during trading on Thursday, reaching $8.88. 725,323 shares of the stock were exchanged, compared to its average volume of 490,856. Perion Network has a 1 year low of $7.00 and a 1 year high of $13.49. The firm has a market cap of $398.05 million, a price-to-earnings ratio of 34.16, a price-to-earnings-growth ratio of 0.76 and a beta of 1.35. The stock's fifty day moving average is $8.35 and its 200 day moving average is $8.52.

Perion Network (NASDAQ:PERI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.15). The business 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%. Equities analysts forecast that Perion Network will post 0.51 earnings per share for the current year.

Institutional Trading of Perion Network

A number of institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC bought a new stake in Perion Network in the 4th quarter worth approximately $489,000. Y.D. More Investments Ltd increased its position in Perion Network by 10.3% during the fourth quarter. Y.D. More Investments Ltd now owns 391,332 shares of the technology company's stock valued at $3,346,000 after acquiring an additional 36,624 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Perion Network by 39.5% in the third quarter. JPMorgan Chase & Co. now owns 378,667 shares of the technology company's stock valued at $2,984,000 after acquiring an additional 107,278 shares during the period. Private Capital Management LLC boosted its position in Perion Network by 33.4% in the third quarter. Private Capital Management LLC now owns 2,387,800 shares of the technology company's stock worth $18,816,000 after purchasing an additional 598,228 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Perion Network during the 3rd quarter valued at about $658,000. Hedge funds and other institutional investors own 68.12% of the company's stock.

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.