Perion Network (NASDAQ:PERI) Upgraded by StockNews.com to "Hold" Rating

StockNews.com upgraded shares of Perion Network (NASDAQ:PERI - Free Report) from a sell rating to a hold rating in a research report released on Thursday morning.

PERI has been the topic of several other reports. Lake Street Capital reaffirmed a "buy" rating and set a $10.50 price objective (down from $11.00) on shares of Perion Network in a research report on Wednesday, February 19th. Needham & Company LLC reaffirmed a "hold" rating on shares of Perion Network in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Perion Network currently has an average rating of "Hold" and a consensus price target of $12.25.

Perion Network Price Performance

NASDAQ:PERI traded up $0.05 during mid-day trading on Thursday, reaching $8.21. 176,221 shares of the company's stock traded hands, compared to its average volume of 592,042. Perion Network has a 12-month low of $7.47 and a 12-month high of $22.65. The company has a 50 day moving average price of $8.75 and a 200-day moving average price of $8.53. The firm has a market capitalization of $368.01 million, a price-to-earnings ratio of 31.62, a PEG ratio of 0.76 and a beta of 1.53.

Perion Network (NASDAQ:PERI - Get Free Report) last announced its quarterly 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 business had revenue of $129.58 million during the quarter, compared to analysts' expectations of $130.44 million. Perion Network had a return on equity of 5.55% and a net margin of 2.53%. As a group, analysts forecast that Perion Network will post 0.51 EPS for the current year.

Institutional Investors Weigh In On Perion Network

Hedge funds have recently added to or reduced their stakes in the stock. Private Capital Management LLC raised its position in shares of Perion Network by 33.4% in the 3rd 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. Systematic Financial Management LP increased its stake in 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. Y.D. More Investments Ltd raised its holdings in Perion Network by 10.3% in the fourth quarter. Y.D. More Investments Ltd now owns 391,332 shares of the technology company's stock worth $3,346,000 after buying an additional 36,624 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Perion Network by 39.5% in 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. Finally, Clearline Capital LP grew its holdings in shares of Perion Network by 20.5% during the fourth quarter. Clearline Capital LP now owns 339,705 shares of the technology company's stock valued at $2,877,000 after buying an additional 57,880 shares during the last quarter. 68.12% of the stock is owned by 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.