Perion Network's (PERI) Buy Rating Reiterated at Lake Street Capital

Lake Street Capital reissued their buy rating on shares of Perion Network (NASDAQ:PERI - Free Report) in a report released on Wednesday,Benzinga reports. Lake Street Capital currently has a $10.50 price objective on the technology company's stock, down from their prior price objective of $11.00.

Separately, Needham & Company LLC reissued a "hold" rating on shares of Perion Network in a research note on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Perion Network currently has a consensus rating of "Hold" and an average price target of $12.25.

Perion Network Price Performance

Shares of PERI stock traded down $0.02 during trading on Wednesday, reaching $8.52. The company had a trading volume of 423,296 shares, compared to its average volume of 412,279. The firm's 50 day simple moving average is $8.88 and its two-hundred day simple moving average is $8.55. Perion Network has a one year low of $7.47 and a one year high of $23.74. The company has a market capitalization of $381.95 million, a PE ratio of 32.77, a PEG ratio of 0.76 and a beta of 1.48.

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). Perion Network had a net margin of 2.53% and a return on equity of 5.54%. The company had revenue of $129.58 million during the quarter, compared to the consensus estimate of $130.44 million. Analysts forecast that Perion Network will post 0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. bought a new position in Perion Network in the 4th quarter worth approximately $41,000. SBI Securities Co. Ltd. bought a new position in Perion Network in the 4th quarter worth approximately $45,000. Perritt Capital Management Inc bought a new position in Perion Network in the 4th quarter worth approximately $127,000. Point72 Asset Management L.P. bought a new position in Perion Network in the 3rd quarter worth approximately $134,000. Finally, XTX Topco Ltd bought a new position in Perion Network in the 3rd quarter worth approximately $150,000. 68.12% of the stock is 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.